§ 390.090

390.090 Rules of classification. (1) As used in this section, 'adverse party' means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate. (2) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral. (3) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary. Effective: July 15, 2020 History: Created 2020 Ky. Acts ch. 41, sec. 8, effective July 15, 2020.