(1) A powerholder's substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:
(a) The powerholder knows of and intends to exercise the power; and
(b) The powerholder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement.
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