Section 205 – Rules of classification.

• (1) In this section, “adverse party” means a person with a substantial beneficial interest in property that would be affected adversely by a powerholder’s exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder’s estate, a creditor of the powerholder, or a creditor of the powerholder’s estate.

• (2) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.

• (3) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.

Enacted by Chapter 125, 2017 General Session