2015 North Carolina General Statutes
Chapter 31D - North Carolina Uniform Powers of Appointment Act.
Article 2 - Creation, Revocation, and Amendment of Power of Appointment.
§ 31D-2-205 - Rules of classification.
31D-2-205. Rules of classification.
(a) In this section, the term "adverse party" means a person with a substantial beneficial interest in property who would be affected adversely by a power holder's exercise or nonexercise of a power of appointment in favor of the power holder, the power holder's estate, a creditor of the power holder, or a creditor of the power holder's estate.
(b) If a power holder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
(c) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary. (2015-205, s. 3(a).)
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