1. (1) In this section:

   1. (a) Residuary clause does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.
   2. (b) Will includes a codicil and a testamentary instrument that revises another will.

2. (2) A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if:

   1. (a) The terms of the instrument containing the residuary clause do not manifest a contrary intent;
   2. (b) The power is a general power exercisable in favor of the powerholder's estate;
   3. (c) There is no gift-in-default clause or the clause is ineffective; and
   4. (d) The powerholder did not release the power.

Source: L. 2014: Entire article added, (HB 14-1353), ch. 209, p. 776, § 1, effective July 1, 2015.