15-2.5-309. Capture doctrine - disposition of ineffectively appointed property under general

15-2.5-309. Capture doctrine - disposition of ineffectively appointed property under general power. (1) To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment: (a) The gift-in-default clause controls the disposition of the ineffectively appointed property; or (b) If there is no gift-in-default clause, or to the extent the clause is ineffective, the ineffectively appointed property: (I) Passes to: (A) The powerholder if the powerholder is a permissible appointee and living; or (B) If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or (II) If there is no taker under subparagraph (I) of this paragraph (b), passes under a reversionary interest to the donor or to the donor's transferee or successor in interest.