N.C. Gen. Stat. § 31D-2-204

Current through Session Law 2024-53

Section 31D-2-204 - Exception to presumption of unlimited authority

Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if both of the following apply:

(1) The power is exercisable only at the power holder's death.

(2) The permissible appointees of the power are a defined and limited class that does not include the power holder's estate, the power holder's creditors, or the creditors of the power holder's estate.

N.C. Gen. Stat. § 31D-2-204

Added by 2015 N.C. Sess. Laws 205,s. 3-a, eff. 8/11/2015.