A power of appointment is exercised only: A. if the instrument exercising the power is valid under applicable law; and B. if the terms of the instrument exercising the power: (1) manifest the powerholder's intent to exercise the power; and (2) subject to Section 304 [46-11-304 NMSA 1978] of the Uniform Powers of Appointment Act, satisfy the requirements of exercise, if any, imposed by the donor; and C. to the extent the appointment is a permissible exercise of the power. History: Laws 2016, ch. 69, § 301. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
New Mexico Legal Code