New Mexico Statutes 45-2-704. Power of appointment; compliance with specific reference requirement
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A powerholder’s substantial compliance with a formal requirement of appointment imposed in a governing instrument by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:
Terms Used In New Mexico Statutes 45-2-704
- Donor: The person who makes a gift.
A. the powerholder knows of and intends to exercise the power; and
B. the powerholder’s manner of attempted exercise does not impair a material purpose of the donor in imposing the requirement.