1. MCA Contents
  2. TITLE 72
  3. CHAPTER 7
  4. Part 2
  5. 72-7-205 Rules of classification

TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

CHAPTER 7. UNIFORM POWERS OF APPOINTMENT ACT

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

Rules Of Classification

72-7-205. 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.

History: En. Sec. 9, Ch. 293, L. 2015.