N.C. Gen. Stat. § 31D-3-304
Substantial compliance with donor-imposed formal requirement
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
A power holder's substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if both of the following apply:
A power holder’s substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if both of the following apply:
(1) The power holder knows of and intends to exercise the power.
(1) The power holder knows of and intends to exercise the power.
(2) The power holder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement.
(2) The power holder’s manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement.
History
(2015-205, s. 3(a).)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.