15-2.5-301. Requisites for exercise of power of appointment

15-2.5-301. Requisites for exercise of power of appointment. (1) A power of appointment may be exercised only: (a) If the instrument exercising the power is valid under applicable law; (b) If the terms of the instrument exercising the power: (I) Manifest the powerholder's intent to exercise the power; and (II) Subject to section 15-2.5-304, satisfy the requirements of exercise, if any, imposed by the donor; and (c) To the extent the appointment is a permissible exercise of the power.