(1) To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment:
(a) The gift-in-default clause controls the disposition of the ineffectively appointed property; or
(b) If there is no gift-in-default clause, or to the extent the clause is ineffective, the ineffectively appointed property:
(I) Passes to:
(A) The powerholder if the powerholder is a permissible appointee and living; or
(B) If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or
(II) If there is no taker under subparagraph (I) of this paragraph (b), passes under a reversionary interest to the donor or to the donor's transferee or successor in interest.
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