2019 North Carolina General Statutes
Chapter 31D - North Carolina Uniform Powers of Appointment Act
Article 5 - Rights of Power Holder's Creditors in Appointive Property.
§ 31D-5-504 - Creditor claim; nongeneral power.
31D-5-504. Creditor claim; nongeneral power.
(a) Except as otherwise provided in subsections (b) and (c) of this section, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the power holder or the power holder's estate.
(b) Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the power holder or the power holder's estate to the extent that the power holder owned the property and, reserving the nongeneral power, transferred the property in violation of the Uniform Voidable Transactions Act, Article 3A of Chapter 39 of the General Statutes.
(c) If the initial gift in default of appointment is to the power holder or the power holder's estate, a nongeneral power of appointment is treated for purposes of this Article as a general power.
(2015-205, s. 3(a).)
