Nevada Revised Statutes 162B.240 – Rules of classification
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1. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
Terms Used In Nevada Revised Statutes 162B.240
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.
3. As used in this section, ‘adverse party’ means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder’s exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder’s estate, a creditor of the powerholder or a creditor of the powerholder’s estate.