§ 19-1703.09. Capture doctrine: disposition of ineffectively appointed property under general power.

(a) 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: (1) The gift-in-default clause controls the disposition of the ineffectively appointed property; or (2) If there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property: (A) Passes to: (i) The powerholder if the powerholder is a permissible appointee and living; or (ii) If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or (B) If there is no taker under subparagraph (A) of this paragraph, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.