Section 75A-4-303 - Intent to exercise - After-acquired powerUnless the terms of the instrument exercising a power of appointment manifest a contrary intent:
(1) except as otherwise provided in Subsection (2), a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and(2) if the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or the gift-in-default clause is ineffective.Renumbered from § 75-10-303 and amended by Chapter 364, 2024 General Session ,§ 105, eff. 9/1/2024.Added by Chapter 125, 2017 General Session ,§ 15, eff. 5/9/2017.