Exercise of power to distribute income or principal considered exercise of power of appointment

The exercise of the power to distribute the income or principal of the trust under § 55-2-15 shall be considered the exercise of a power of appointment (other than a power to appoint to the trustee, the trustee's creditors, the trustee's estate, or the creditors of the trustee's estate). Source: SL 2007, ch 281, § 5.