A power holder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the power holder both:
(1) Is also the donor of the power.
(2) Has reserved the power in a revocable trust.
N.C. Gen. Stat. § 31D-4-406
Power to contract; power of appointment not presently exercisable
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.