Section 46-11-311 - Disposition of unappointed property under released or unexercised nongeneral powerTo the extent a powerholder releases, ineffectively exercises or fails to exercise a nongeneral power of appointment:
A. the gift-in-default clause controls the disposition of the unappointed property; orB. if there is no gift-in-default clause or to the extent that the clause is ineffective, the unappointed property:(1) passes to the permissible appointees if: (a) the permissible appointees are defined and limited; and(b) the terms of the instrument creating the power do not manifest a contrary intent; 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, § 311.Added by 2016, c. 69,s. 311, eff. 1/1/2017.