Utah Code 75A-4-103. Governing law
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(1) Unless the terms of the instrument creating a power of appointment manifest a contrary intent:
Terms Used In Utah Code 75A-4-103
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Appointee: means a person to which a powerholder makes an appointment of appointive property. See Utah Code 75A-4-102
- Donor: The person who makes a gift.
- Donor: means a person that creates a power of appointment. See Utah Code 75A-4-102
- Instrument: means a record. See Utah Code 75A-4-102
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an interest in, or another power of appointment over, the appointive property. See Utah Code 75A-4-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Utah Code 75A-4-102
- Property: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102 - State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) the creation, revocation, amendment, interpretation and definition of terms, or the determination of the rights of the appointee of the power is governed by the law of the donor‘s domicile at the relevant time; and
(1)(b) the formalities for the exercise, release, or disclaimer of the power, or the revocation or amendment of the exercise, release, or disclaimer of the power is governed by the law of the powerholder‘s state of domicile at the relevant time.
(2) The law of the powerholder’s state of domicile may not govern the interpretation and definition of terms, or the determination of the rights of the appointee of the power, which shall be governed by the law of the donor‘s domicile at the relevant time.
(3) Claims of creditors, including creditor claims regarding a power not created by a powerholder as set forth in Section 75A-4-502 , and other parties claiming an interest in property or rights subject to a power will be governed by the laws of the donor’s domicile at the time of the creation of the power and not the powerholder’s state of domicile either at the time of the creation of the power or at the time of exercise of the power.