A power of appointment created in favor of two or more powerholders can only be exercised when all of the powerholders unite in its exercise. If one or more of the powerholders dies, becomes legally incapable of exercising the power, or releases the power, the power may be exercised by the others, unless expressly prohibited by the creating instrument.
(Amended by Stats. 2016, Ch. 81, Sec. 7. (AB 2846) Effective January 1, 2017.)