(a)        In this section, the term “adverse party” means a person with a substantial beneficial interest in property who would be affected adversely by a power holder’s exercise or nonexercise of a power of appointment in favor of the power holder, the power holder’s estate, a creditor of the power holder, or a creditor of the power holder’s estate.

(b)        If a power holder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.

(c)        If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary. ?(2015-205, s. 3(a).)

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Terms Used In North Carolina General Statutes 31D-2-205