A powerholder shall not transfer a power of appointment. If a powerholder dies without exercising or releasing a power, the power lapses.
History: Laws 2016, ch. 69, § 202.
Effective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
Structure New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 11 - Uniform Powers of Appointment
Article 2 - CREATION, REVOCATION AND AMENDMENT OF POWER OF APPOINTMENT
Section 46-11-201 - Creation of power of appointment.
Section 46-11-202 - Nontransferability.
Section 46-11-203 - Presumption of unlimited authority.
Section 46-11-204 - Exception to presumption of unlimited authority.