Montana Code 72-7-307. Impermissible appointment
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72-7-307. Impermissible appointment. (1) Except as otherwise provided in 72-7-306, an exercise of a power of appointment in favor of an impermissible appointee is ineffective.
Terms Used In Montana Code 72-7-307
- Appointee: means a person to which a powerholder makes an appointment of appointive property. See Montana Code 72-7-102
- Fraud: Intentional deception resulting in injury to another.
- Permissible appointee: means a person in whose favor a powerholder may exercise a power of appointment. See Montana Code 72-7-102
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Montana Code 72-7-102
(2)An exercise of a power of appointment in favor of a permissible appointee is ineffective to the extent the appointment is a fraud on the power.