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Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

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  456.1005.  Rules of classification. — 1.  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.

  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.

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(L. 2016 H.B. 1765)


---- end of effective   28 Aug 2016 ----

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