CODE OF VIRGINIA

SUBSTANTIAL COMPLIANCE WITH DONOR-IMPOSED FORMAL REQUIREMENT (§ 64.2-2716)

A powerholder’s substantial compliance with a formal requirement of
appointment imposed by the donor, including a requirement that the instrument
exercising the power of appointment make reference or specific reference to the
power, is sufficient if:

   1.  The powerholder knows of and intends to exercise the power; and

   2.  The powerholder’s manner of attempted exercise of the power does not
   impair a material purpose of the donor in imposing the requirement.

HISTORY: 2016, c. 266.