Current through 2024, ch. 69
Section 46-11-205 - Rules of classificationA. As used in this section, "adverse party" means a person with a substantial beneficial interest in property that 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.B. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.C. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.Laws 2016, ch. 69, § 205.Added by 2016, c. 69,s. 205, eff. 1/1/2017.