524.2-1113 DISCLAIMER OF POWER HELD IN FIDUCIARY CAPACITY. (a) If a fiduciary disclaims a power held in a fiduciary capacity which has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable. (b) If a fiduciary disclaims a power held in a fiduciary capacity which has been exercised, the disclaimer takes effect immediately after the last exercise of the power. (c) A disclaimer under this section is effective as to another fiduciary if: (1) the disclaimer so provides; and (2) the fiduciary disclaiming has the authority to bind the estate, trust, or other person for whom the fiduciary is acting. History: 2009 c 67 s 13
Minnesota Legal Code