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NRS 162B.230

Exception to presumption of unlimited authority

Known as the Uniform Powers of Appointment Act

The act spans §§ 162–162 (56 sections).

(Added to NRS by 2017, 1374)

Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:

1. The power is exercisable only at the powerholder’s death; and

2. The permissible appointees of the power are a defined and limited class that does not include the powerholder’s estate, the powerholder’s creditors or the creditors of the powerholder’s estate.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.