Montana Code 72-7-203. Presumption of unlimited authority
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72-7-203. Presumption of unlimited authority. Subject to 72-7-204 and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is:
Terms Used In Montana Code 72-7-203
- Instrument: means a writing. See Montana Code 72-7-102
- 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 Montana Code 72-7-102
(1)presently exercisable;
(2)exclusionary; and
(3)except as otherwise provided in 72-7-204, general.