Section 75A-4-311 - 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:
(1) the gift-in-default clause controls the disposition of the unappointed property; or(2) 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: (i) the permissible appointees are defined and limited; and(ii) the terms of the instrument creating the power do not manifest a contrary intent; or(b) if there is no taker under Subsection (2)(a), passes under a reversionary interest to the donor or the donor's transferee or successor in interest.Renumbered from § 75-10-311 and amended by Chapter 364, 2024 General Session ,§ 113, eff. 9/1/2024.Added by Chapter 125, 2017 General Session ,§ 23, eff. 5/9/2017.