31D-2-203. Presumption of unlimited authority.
Subject to the provisions of G.S. 31D-2-205, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is all of the following:
(1) Presently exercisable.
(2) Exclusionary.
(3) Except as otherwise provided in G.S. 31D-2-204, general. (2015-205, s. 3(a).)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 31D - North Carolina Uniform Powers of Appointment Act
Article 2 - Creation, Revocation, and Amendment of Power of Appointment.
§ 31D-2-201 - Creation of power of appointment.
§ 31D-2-202 - Nontransferability.
§ 31D-2-203 - Presumption of unlimited authority.
§ 31D-2-204 - Exception to presumption of unlimited authority.