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Section 559.2 - Definition — scope of power.

IA Code § 559.2 (2019) (N/A)
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559.2 Definition — scope of power.

The term “power to appoint” as used in this chapter, shall mean and include all powers which are in substance and effect powers of appointment, regardless of the language used in creating them and whether they are:

1. General, special, or otherwise.

2. Vested, contingent, or conditional.

3. In gross, appendant, simply collateral, in trust or in the nature of a trust or otherwise.

4. Exercisable by an instrument amending, revoking, altering, or terminating a trust or an estate, or an interest thereunder or otherwise.

5. Exercisable presently or in the future.

6. Exercisable in an individual or a fiduciary capacity whether alone or in conjunction with one or more other persons or corporations.

7. Powers to invade or consume property.

8. Powers remaining after one or more partial releases have heretofore or hereafter been made with respect to a power to appoint.

[C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §559.2]

2013 Acts, ch 30, §159; 2014 Acts, ch 1026, §121; 2014 Acts, ch 1092, §125

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