Kentucky Statutes 390.170 – Impermissible appointment
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(1) Except as provided in KRS § 390.160, an exercise of a power of appointment in favor of an impermissible appointee is ineffective.
(2) An exercise of a power of appointment in favor of a permissible appointee is ineffective to the extent the appointment is a fraud on the power.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 16, effective July 15, 2020.
(2) An exercise of a power of appointment in favor of a permissible appointee is ineffective to the extent the appointment is a fraud on the power.
Terms Used In Kentucky Statutes 390.170
- Appointee: means a person to whom a powerholder makes an appointment of appointive property. See Kentucky Statutes 390.020
- Fraud: Intentional deception resulting in injury to another.
- Permissible appointee: means a person in whose favor a powerholder may exercise a power of appointment. See Kentucky Statutes 390.020
- 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
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 16, effective July 15, 2020.