Effective 28 Aug 2016
456.1005. Rules of classification. — 1. As used in this section, "adverse party" means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
2. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
3. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.
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(L. 2016 H.B. 1765)
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