Kentucky Statutes 390.280 – Revocation or amendment of release
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A powerholder may revoke or amend a release of a power of appointment only to the extent that:
(1) The instrument of release is revocable by the powerholder; or
(2) The powerholder reserves a power of revocation or amendment in the instrument of release.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 27, effective July 15, 2020.
(1) The instrument of release is revocable by the powerholder; or
Terms Used In Kentucky Statutes 390.280
- 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.
- Instrument: means a writing. 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
- Powerholder: means a person in whom a donor creates a power of appointment. See Kentucky Statutes 390.020
(2) The powerholder reserves a power of revocation or amendment in the instrument of release.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 27, effective July 15, 2020.