1. MCA Contents
  2. TITLE 72
  3. CHAPTER 7
  4. Part 2
  5. 72-7-201 Creation of power of appointment

TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

CHAPTER 7. UNIFORM POWERS OF APPOINTMENT ACT

Part 2. Creation, Revocation, and Amendment of Power of Appointment

Creation Of Power Of Appointment

72-7-201. Creation of power of appointment. (1) A power of appointment is created only if:

(a) the instrument creating the power:

(i) is valid under applicable law; and

(ii) except as otherwise provided in subsection (2), transfers the appointive property; and

(b) the terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee.

(2) Subsection (1)(a)(ii) does not apply to the creation of a power of appointment by the exercise of a power of appointment.

(3) A power of appointment may not be created in a deceased individual.

(4) Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.

History: En. Sec. 5, Ch. 293, L. 2015.