Ky. Rev. Stat. § 390.140

Current through 2024 Ky. Acts ch. 225

Section 390.140 - Substantial compliance with donor-imposed formal requirement

A powerholder's substantial compliance with a formal requirement of an 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:

(1) The powerholder knows of and intends to exercise the power; and

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

KRS 390.140

Added by 2020 Ky. Acts ch. 41,§ 13, eff. 7/14/2020.