A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:
A. is also the donor of the power; and
B. has reserved the power in a revocable trust.
§ 46-11-406 NMSA 1978
Power to contract; power of appointment not presently exercisable
Known as the Uniform Powers of Appointment Act
The act spans §§ 46–46 (38 sections).
Laws 2016, ch. 69, § 406.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.