Section 456.1015

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

Effective - 28 Aug 2016   

  456.1015.  Requisites for exercise of power of appointment. — A power of appointment is exercised only if:

  (1)  The instrument exercising the power is valid under applicable law;

  (2)  The terms of the instrument exercising the power:

  (a)  Manifest the powerholder's intent to exercise the power; and

  (b)  Subject to section 456.1030, satisfy the requirements of exercise, if any, imposed by the donor; and

  (3)  To the extent the appointment is a permissible exercise of the power.

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(L. 2016 H.B. 1765)