Sec. 45a-571. (Formerly Sec. 45-123). Effect of release of one donee upon other donees.
Sec. 45a-571. (Formerly Sec. 45-123). Effect of release of one donee upon other
donees. If a power of appointment releasable according to section 45a-568 is or may
be exercisable by two or more persons in conjunction with one another or successively,
a release or disclaimer of the power, in whole or in part, executed and delivered or filed,
in accordance with section 45a-569, by any one of the donees of the power, shall, subject
to the provisions of section 45a-569, be effective to release or disclaim, to the extent
therein provided, all right of such person to exercise, or to participate in the exercise
of, the power, but, unless the instrument creating the power otherwise provides, shall
not prevent or limit the exercise or participation in the exercise thereof by the other
donee or donees thereof.
(1949 Rev., S. 6912; P.A. 80-476, S. 338.)
History: P.A. 80-476 made no substantive change; Sec. 45-123 transferred to Sec. 45a-571 in 1991.