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Iowa Code § 559.2

Definition — scope of power

Redline — January 1, 2012 → current.View current text →
Current — January 1, 2016
As of January 1, 2012
The term “power to appoint” as used in section 559.1, shall mean and include all powers which are in substance and effect powers of appointment, regardless of the language used in creating them and whether they are (1) general, special or otherwise, (2) vested, contingent or conditional, (3) in gross, appendant, simply collateral, in trust or in the nature of a trust or otherwise, (4) exercisable by an instrument amending, revoking, altering or terminating a trust or an estate, or an interest thereunder or otherwise, (5) exercisable presently or in the future, (6) exercisable in an individual or a fiduciary capacity whether alone or in conjunction with one or more other persons or corporations, (7) powers to invade or consume property, or (8) powers remaining after one or more partial releases have heretofore or hereafter been made with respect to a power to appoint.
The term “power to appoint” as used in this chapter, shall mean and include all powers which are in substance and effect powers of appointment, regardless of the language used in creating them and whether they are:
1. General, special, or otherwise.
2. Vested, contingent, or conditional.
3. In gross, appendant, simply collateral, in trust or in the nature of a trust or otherwise.
4. Exercisable by an instrument amending, revoking, altering, or terminating a trust or an estate, or an interest thereunder or otherwise.
5. Exercisable presently or in the future.
6. Exercisable in an individual or a fiduciary capacity whether alone or in conjunction with one or more other persons or corporations.
7. Powers to invade or consume property.
8. Powers remaining after one or more partial releases have heretofore or hereafter been made with respect to a power to appoint.
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Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.