15-2.5-205. Rules of classification - definitions

15-2.5-205. Rules of classification - definitions. (1) In this section, "adverse party" means a person with a substantial beneficial interest in property, which interest 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. (2) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral. (3) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.