Me. Stat. tit. 18-C § 2-704

Current through 131st (2023-2024) Legislature Chapter 684

Section 2-704 - Power of appointment; compliance with specific reference requirement

A powerholder's substantial compliance with a formal requirement of appointment imposed in a governing instrument by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if: [2017, c. 402, Pt. A, §2(NEW); 2019, c. 417, Pt. B, §14(AFF).]

1.Knows of and intends to exercise power. The powerholder knows of and intends to exercise the power; and

[2017, c. 402, Pt. A, §2(NEW); 2019, c. 417, Pt. B, §14(AFF).]

2.Does not impair a material purpose. The powerholder's manner of attempted exercise does not impair a material purpose of the donor in imposing the requirement.

[RR 2019, c. 1, Pt. A, §16(COR).]

18-C M.R.S. § 2-704

Amended by 2019, c. 417,§ B-14, eff. 6/20/2019.

Added by 2018, c. 402,§ A-2, eff. 7/1/2019.