Connecticut General Statutes 45a-571 – Effect of release of one donee upon other donees
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If a power of appointment releasable according to section 45a-568 is or may be exercisable by two or more persons in conjunction with one another or successively, a release or disclaimer of the power, in whole or in part, executed and delivered or filed, in accordance with section 45a-569, by any one of the donees of the power, shall, subject to the provisions of section 45a-569, be effective to release or disclaim, to the extent therein provided, all right of such person to exercise, or to participate in the exercise of, the power, but, unless the instrument creating the power otherwise provides, shall not prevent or limit the exercise or participation in the exercise thereof by the other donee or donees thereof.
Terms Used In Connecticut General Statutes 45a-571
- another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
- Donee: The recipient of a gift.