(a) In this Section, "adverse party" means a person with a substantial beneficial interest in property that 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. (b) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral. (c) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.
760 ILCS 3/1308
Rules of classification
Known as the Uniform Powers of Appointment Law
The act spans §§ 760-3-1301 to 760-3-1336 (36 sections).
P.A. 101-48, eff. 1-1-20.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.