Effective 5/9/2017
75-10-301. Requisites for exercise of power of appointment.
A power of appointment is exercised only:
75-10-301. Requisites for exercise of power of appointment.
A power of appointment is exercised only:
- (1) if the instrument exercising the power is valid under applicable law;
- (2) if the terms of the instrument exercising the power:
- (a) manifest the powerholder’s intent to exercise the power; and
- (b) satisfy the requirements of exercise, if any, imposed by the donor; and
- (3) to the extent the appointment is a permissible exercise of the power.
Enacted by Chapter 125, 2017 General Session