Section 190B:2-902 - When nonvested property interest or power of appointment created(a) Except as provided in subsections (b) and (c) and in section 2-905(a), the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.(b) For purposes of this part, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of (i) a nonvested property interest or (ii) a property interest subject to a power of appointment described in section 2-901(b) or (c), the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.(c) For purposes of this part, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.Mass. Gen. Laws ch. 190B, § 2-902
Added by Acts 2008, c. 521,§ 9, eff. 7/1/2011.