11.95A.120  <<  11.95A.130 >>   11.95A.140

Presumption of unlimited authorityException.

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.
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