Section 501B.20 Holder of a General Power
501B.20 HOLDER OF A GENERAL POWER.
For purposes of giving notice, waiving notice, initiating a proceeding, granting consent or approval, or objecting with regard to any proceedings under this chapter, the sole holder or all coholders of a presently exercisable or testamentary general power of appointment, power of revocation, or unlimited power of withdrawal are deemed to represent and act for beneficiaries to the extent that their interests as objects, takers in default, or otherwise are subject to the power.
History:
1989 c 340 art 1 s 17; 1Sp1989 c 2 s 1