31D-3-312. Disposition of unappointed property if partial appointment to taker in default.
Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the power holder makes a valid partial appointment to a taker in default of appointment, then the taker in default of appointment may share fully in unappointed property. (2015-205, s. 3(a).)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 31D - North Carolina Uniform Powers of Appointment Act
Article 3 - Exercise of Power of Appointment.
§ 31D-3-301 - Requisites for exercise of power of appointment.
§ 31D-3-302 - Intent to exercise; determining intent from residuary clause.
§ 31D-3-303 - Intent to exercise after-acquired power.
§ 31D-3-304 - Substantial compliance with donor-imposed formal requirement.
§ 31D-3-305 - Permissible appointment.
§ 31D-3-306 - Appointment to deceased appointee.
§ 31D-3-307 - Impermissible appointment.
§ 31D-3-308 - Selective allocation doctrine.
§ 31D-3-309 - Capture doctrine; disposition of ineffectively appointed property under general power.
§ 31D-3-310 - Disposition of unappointed property under released or unexercised general power.
§ 31D-3-311 - Disposition of unappointed property under released or unexercised nongeneral power.
§ 31D-3-312 - Disposition of unappointed property if partial appointment to taker in default.
§ 31D-3-313 - Appointment to taker in default.
§ 31D-3-314 - Power holder's authority to revoke or amend exercise.