Current with changes from the 2024 Legislative Session
Section 456.1090 - Power to contract - presently exercisable power of appointment - power of appointment not presently exercisable1. A powerholder of a presently exercisable power of appointment may contract: (1) Not to exercise the power; or(2) To exercise the power if the contract when made does not confer a benefit on an impermissible appointee.2. A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder: (1) Is also the donor of the power; and(2) Has reserved the power in a revocable trust.Added by 2016 Mo. Laws, HB 1765,s A, eff. 8/28/2016.