Nev. Rev. Stat. § 162B.240

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 162B.240 - Rules of classification

1. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.

2. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.

3. As used in this section, "adverse party" means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder or a creditor of the powerholder's estate.

NRS 162B.240

Added to NRS by 2017, 1374

Added to NRS by 2017, Ch. 262, § 28