Statute 162b 340

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: (1) The powerholder if the powerholder is a permissible appointee and living; or (2) 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 paragraph (a), passes under a reversionary interest to the donor or the donor’s transferee or successor in interest. (Added to NRS by 2017, 1376)