CODE OF VIRGINIA

REQUISITES FOR EXERCISE OF POWER OF APPOINTMENT (§ 64.2-2713)

A power of appointment is exercised only:

   1.  If the instrument exercising the power is valid under applicable law;

   2.  If the terms of the instrument exercising the power:
               
            

      a.  Manifest the powerholder’s intent to exercise the power; and

      b.  Subject to § 64.2-2716, satisfy the requirements of exercise, if any,
      imposed by the donor; and

   3.  To the extent that the appointment is a permissible exercise of the power.

HISTORY: 2016, c. 266.