Kentucky Statutes 390.070 – Presumption of unlimited authority
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Subject to KRS § 390.090, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is:
(1) Presently exercisable; (2) Exclusionary; and
(3) Except as otherwise provided in KRS § 390.080, general.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 6, effective July 15, 2020.
(1) Presently exercisable; (2) Exclusionary; and
Terms Used In Kentucky Statutes 390.070
- Instrument: means a writing. See Kentucky Statutes 390.020
- 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 Kentucky Statutes 390.020
(3) Except as otherwise provided in KRS § 390.080, general.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 6, effective July 15, 2020.