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2020 Colorado Revised Statutes
Title 15 - Probate, Trusts, And Fiduciaries
Article 2.5. Uniform Powers of Appointment Act
Section 15-2.5-205. Rules of classification - definitions.
Universal Citation: CO Rev Stat § 15-2.5-205 (2020)
(1) In this section, "adverse party" means a person with a substantial beneficial interest in property, which interest 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.
If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
If the permissible appointees of a power of appointment are not defined and limited,the power is exclusionary.
Source: L. 2014: Entire article added, (HB 14-1353), ch. 209, p. 775, § 1, effective July 1, 2015.
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