Section 162B.350 - Disposition of unappointed property under released or unexercised nongeneral power To the extent a powerholder releases, ineffectively exercises or fails to exercise a nongeneral power of appointment:
1. The gift-in-default clause controls the disposition of the unappointed property; or2. If there is no gift-in-default clause or to the extent the clause is ineffective, the unappointed property: (a) Passes to the permissible appointees if: (1) The permissible appointees are defined and limited; and(2) The terms of the instrument creating the power do not manifest a contrary intent; or(b) If there is no taker under paragraph (a), passes under a reversionary interest to the donor or the donor's transferee or successor in interest.Added to NRS by 2017, 1377Added to NRS by 2017, Ch. 262, § 40