Montana Code 72-2-827. Disclaimer of power held in fiduciary capacity
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72-2-827. Disclaimer of power held in fiduciary capacity. (1) If a fiduciary disclaims a power held in a fiduciary capacity which has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.
Terms Used In Montana Code 72-2-827
- Fiduciary: A trustee, executor, or administrator.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(2)If a fiduciary disclaims a power held in a fiduciary capacity which has been exercised, the disclaimer takes effect immediately after the last exercise of the power.
(3)A disclaimer under this section is effective as to another fiduciary if the disclaimer so provides and the fiduciary disclaiming has the authority to bind the estate, trust, or other person for whom the fiduciary is acting.