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2017 Maryland Code
Estates and Trusts
Title 14.5. Maryland Trust Act.
Subtitle 3 - Representation.
§ 14.5-302. Qualified power of appointment.
Universal Citation: MD Est & Trusts Code § 14.5-302 (2017)
- (a) Holder may represent and bind interested persons. -- The holder of a qualified power of appointment may represent and bind persons whose interests as permissible appointees or takers in default are subject to the power.
- (b) Nature of power. -- A qualified power of appointment is:
- (1) A general power of appointment; or
- (2) A power of appointment exercisable in favor of all persons other than the power holder, the estate of the power holder, the creditors of the power holder, and the creditors of the estate of the power holder.
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