Section 204 – Exception to presumption of unlimited authority.

Effective 5/9/2017
75-10-204. Exception to presumption of unlimited authority.
Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:

• (1) the power is exercisable only at the powerholder’s death; and

• (2) the permissible appointees of the power are a defined and limited class that does not include the powerholder’s estate, the powerholder’s creditors, or the creditors of the powerholder’s estate.

Enacted by Chapter 125, 2017 General Session