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:
1. Is also the donor of the power; and
2. Has reserved the power in a revocable trust.
NRS 162B.450
Power to contract: Power of appointment not presently exercisable
Known as the Uniform Powers of Appointment Act
The act spans §§ 162–162 (56 sections).
(Added to NRS by 2017, 1378)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.