N.M. Stat. § 46-11-204

Current through 2024, ch. 69

Section 46-11-204 - Exception to presumption of unlimited authority

Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:

A. the power is exercisable only at the powerholder's death; and

B. the permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors or the creditors of the powerholder's estate.

NMS § 46-11-204

Laws 2016, ch. 69, § 204.

Added by 2016, c. 69,s. 204, eff. 1/1/2017.