Exception to presumption of unlimited authority.

§ 31D-2-204. Exception to presumption of unlimited authority. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if both of the following apply: (1) The power is exercisable only at the power holder's death. (2) The permissible appointees of the power are a defined and limited class that does not include the power holder's estate, the power holder's creditors, or the creditors of the power holder's estate.