§ 34-22-1 - Disclaimer and renunciation or restriction of power.
SECTION 34-22-1
§ 34-22-1 Disclaimer and renunciation orrestriction of power. – A person to whom any power of appointment, or power of apportionment, or anyother power, whether coupled with an interest or not, is given, may disclaim orrenounce the whole, or any part, of that power to the extent that the power hasnot been exercised by that person, and may also restrict any such power, eitheras to persons to whom he or she may appoint or the amounts he or she mayappoint, or both. The disclaimer or renunciation shall relate back to thecreation of the power and shall take and have effect as of that time. No titleto any property or interest with respect to which such renunciation ordisclaimer is made shall pass to any person by virtue of the power to theextent of the renunciation or disclaimer, and the power shall be void to theextent of the renunciation or disclaimer. After such disclaimer orrenunciation, the power may be exercised by the other or others, if any, or thesurvivors or survivor of the others, of the persons to whom the power is given,unless the contrary is expressed in the instrument creating the power. Thissection shall apply to all powers of appointment and powers of apportionmentand all other powers, whether created before or after the original enactment ofthis section.