Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if both of the following apply:

(1)        The power is exercisable only at the power holder’s death.

(2)        The permissible appointees of the power are a defined and limited class that does not include the power holder’s estate, the power holder’s creditors, or the creditors of the power holder’s estate. ?(2015-205, s. 3(a).)

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Terms Used In North Carolina General Statutes 31D-2-204

  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
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