Legislation
SECTION 10-5.2
Contract to appoint; power presently exercisable
Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 10, PART 5
§ 10-5.2 Contract to appoint; power presently exercisable
The donee of a power of appointment which is presently exercisable, or
of a postponed power which has become exercisable, can contract to make
an appointment to the extent that the contract or the promised
appointment does not confer a benefit upon a person who is not a
permissible appointee under the power.
The donee of a power of appointment which is presently exercisable, or
of a postponed power which has become exercisable, can contract to make
an appointment to the extent that the contract or the promised
appointment does not confer a benefit upon a person who is not a
permissible appointee under the power.