§ 14.5-507. Power of appointment
West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-507
§ 14.5-507. Power of appointment
(a)(1) A power of appointment held by a person other than the settlor of the trust is not a property interest.
(b) None of the following shall be sufficient to create a general power of appointment or a power of withdrawal with respect to a beneficiary or settlor:
(3) The settlor or the beneficiary of a trust serving as a trust administrator, a partner of a partnership, a manager of a limited liability company, or an officer of a corporation, or serving in another managerial function of another type of entity if part or all of the trust property consists of an interest in the entity;
Credits
Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-507, MD EST & TRST § 14.5-507
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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