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§ 31d-3-303 — North Carolina Law | CourtGPT
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  6. § 31d-3-303
North Carolina Legal Code

§ 31d-3-303

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\nUnless the terms of an instrument exercising a power of appointment manifest a contrary intent:\n(1) If the power holder is not also the donor of the power, a blanket-exercise clause in the instrument extends to a power acquired by the power holder after executing the instrument containing the clause.\n(2) If the power holder is also the donor of the power, the blanket-exercise clause extends to the power acquired by the power holder after executing the instrument only if there is no gift-in-default clause or the gift-in-default clause is ineffective. The blanket-exercise clause does not extend to the power if there is a gift-in-default clause that is effective. (2015-205, s. 3(a).)