Effective - 28 Aug 2018, 2 histories
456.985. Act to govern powers — exceptions. — 1. Except as otherwise provided in the terms of an instrument creating or exercising a power of appointment, sections 456.970 to 456.1135 govern powers of appointment.
2. The terms of an instrument creating or exercising a power of appointment prevail over any provisions of sections 456.970 to 456.1135 except:
(1) The requisites for the creation of a power of appointment under subsections 1 to 4 of section 456.990;
(2) The transferability of a power of appointment by a powerholder under subsection 1 of section 456.995;
(3) The limitations on the authority of a donor to extend a general power of appointment beyond the death of a powerholder under subsection 3 of section 456.995;
(4) The power is exclusionary if the permissible appointees of a power of appointment are not defined and limited under subsection 3 of section 456.1005;
(5) The requisites for the exercise of a power of appointment under section 456.1015;
(6) The effect of an impermissible appointment under section 456.1045;
(7) A general power of appointment which is presently exercisable may be reached by the creditors of the powerholder or the powerholder's estate under section 456.1100.
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(L. 2016 H.B. 1765, A.L. 2018 H.B. 1250)