31D-2-205. Rules of classification.
(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).)
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.