A power of appointment is exercised only to the extent that the appointment is a permissible exercise of the power, and only if all of the following apply:

(1) The instrument exercising the power is valid under applicable law.

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Terms Used In North Carolina General Statutes 31D-3-301

  • Donor: The person who makes a gift.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3

(2) The terms of the instrument exercising the power manifest the power holder’s intent to exercise the power.

(3) Subject to the provisions of N.C. Gen. Stat. § 31D-3-304, the terms of the instrument exercising the power satisfy the requirements of exercise, if any, imposed by the donor. (2015-205, s. 3(a).)

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