Kentucky Statutes 390.060 – Nontransferability
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90.060 Nontransferability.
A powerholder may not transfer a power of appointment. If the powerholder dies without exercising or releasing the power, the power lapses.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 5, effective July 15, 2020.
A powerholder may not transfer a power of appointment. If the powerholder dies without exercising or releasing the power, the power lapses.
Terms Used In Kentucky Statutes 390.060
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Kentucky Statutes 390.020
- Powerholder: means a person in whom a donor creates a power of appointment. See Kentucky Statutes 390.020
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 5, effective July 15, 2020.