A power holder of a presently exercisable power of appointment may contract:
(1) Not to exercise the power.
(2) To exercise the power if the contract when made does not confer a benefit on an impermissible appointee.
N.C. Gen. Stat. § 31D-4-405
Power to contract; presently exercisable power of appointment
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.