Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY
< > • Effective - 28 Aug 2016456.1090. Power to contract — presently exercisable power of appointment — power of appointment not presently exercisable. — 1. A powerholder of a presently exercisable power of appointment may contract:
(1) Not to exercise the power; or
(2) To exercise the power if the contract when made does not confer a benefit on an impermissible appointee.
2. A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:
(1) Is also the donor of the power; and
(2) Has reserved the power in a revocable trust.
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(L. 2016 H.B. 1765)
---- end of effective 28 Aug 2016 ----
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