Current through 2024
Section 11.95A.140 - Rules of classification(1) 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.(2) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.(3) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.Added by 2021 c 140,§ 3205, eff. 1/1/2022.