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Current as of January 01, 2020 | Updated by FindLaw Staff
(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.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 31D. North Carolina Uniform Powers of Appointment Act § 31D-2-205. Rules of classification - last updated January 01, 2020 | https://codes.findlaw.com/nc/chapter-31d-north-carolina-uniform-powers-of-appointment-act/nc-gen-st-sect-31d-2-205/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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