Section 46-11-309 - Capture doctrine; disposition of ineffectively appointed property under general powerTo the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke or amend a trust, makes an ineffective appointment:
A. the gift-in-default clause controls the disposition of the ineffectively appointed property; orB. if there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property: (1) passes to: (a) the powerholder if the powerholder is a permissible appointee and is living; or(b) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or(2) if there is no taker under Paragraph (1) of this subsection, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.Laws 2016, ch. 69, § 309.Added by 2016, c. 69,s. 309, eff. 1/1/2017.