Section 7601 - Definitions

The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: 'Broad power of appointment.' A power of appointment that the donee may exercise in favor of any one or more of the following: (1) One or more persons selected by the donee. (2) The donee. (3) The donee's estate. (4) Every person other than the donee, the donee's creditors, the donee's estate or the creditors of the donee's estate. 'Limited power of appointment.' A power of appointment that is not a broad power of appointment. The term includes a power to appoint to the donee's creditors or the creditors of the donee's estate.