The holder of a power of appointment may represent and bind persons whose interests as permissible appointees or takers in default are subject to the power. A qualified power of appointment is a power exercisable in favor of:
(1) The power holder, the power holder's estate, the power holder's creditors and the creditors of the power holder's estate; or
(2) All persons other than the power holder, the power holder's estate, the power holder's creditors, and the creditors of the power holder's estate.
CREDIT(S)
(Mar. 10, 2004, D.C. Law 15-104, § 2(b), 51 DCR 208.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 15-104, see notes following § 19-1301.01.
Uniform Law
This section is based upon § 302 of the Uniform Trust Code. See 7C, Uniform Laws Annotated, Master Edition, or ULA Database on Westlaw.