A power of appointment is exercised only:
A. if the instrument exercising the power is valid under applicable law; and
B. if the terms of the instrument exercising the power:
(1) manifest the powerholder's intent to exercise the power; and
(2) subject to Section 304 [46-11-304 NMSA 1978] of the Uniform Powers of Appointment Act, satisfy the requirements of exercise, if any, imposed by the donor; and
C. to the extent the appointment is a permissible exercise of the power.
History: Laws 2016, ch. 69, § 301.
Effective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
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