Public-domain · open source
OpenJurist

NRS 162B.240

Rules of classification

Known as the Uniform Powers of Appointment Act

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

(Added to NRS by 2017, 1374)

1. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.

2. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.

3. As used in this section, “adverse party” means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder’s exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder’s estate, a creditor of the powerholder or a creditor 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.