Section 31D-5-503 - Power to withdraw(a) For purposes of this Article, a power to withdraw property from a trust is treated as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.(b) The lapse, release, or waiver of a power to withdraw property from a trust shall not be deemed to be an exercise of the power.N.C. Gen. Stat. § 31D-5-503
Added by 2015 N.C. Sess. Laws 205,s. 3-a, eff. 8/11/2015.