N.C. Gen. Stat. § 31D-3-304

Current through Session Law 2024-53

Section 31D-3-304 - Substantial compliance with donor-imposed formal requirement

A power holder's substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if both of the following apply:

(1) The power holder knows of and intends to exercise the power.

(2) The power holder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement.

N.C. Gen. Stat. § 31D-3-304

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