31D-2-201. Creation of power of appointment.
(a) A power of appointment is created only if all of the following apply:
(1) The instrument creating the power is valid under applicable law.
(2) Except as otherwise provided in subsection (b) of this section, the instrument creating the power transfers the appointive property.
(3) The terms of the instrument creating the power manifest the donor's intent to create in a power holder a power of appointment over the appointive property exercisable in favor of a permissible appointee.
(b) Subdivision (1) of subsection (a) of this section does not apply to the creation of a power of appointment by the exercise of a power of appointment.
(c) A power of appointment may not be created in a deceased individual.
(d) Subject to an applicable rule against perpetuities or restraint on alienation, a power of appointment may be created in an unborn or unascertained power holder.
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