A powerholder of a presently exercisable power of appointment may contract:
(1) Not to exercise the power; or (2) To exercise the power if the contract when made does not confer a benefit on an impermissible appointee.
KRS 390.290
Power to contract -- Presently exercisable power of appointment
Known as the Uniform Powers of Appointment Act
The act spans §§ 390–390 (37 sections).
Effective: July 15, 2020 History: Created 2020 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.