Ky. Rev. Stat. § 390.090

Current through 2024 Ky. Acts ch. 225
Section 390.090 - 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.

KRS 390.090

Added by 2020 Ky. Acts ch. 41,§ 8, eff. 7/14/2020.