1. (1) A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:

   1. (a) Is also the donor of the power; and
   2. (b) Has reserved the power in the instrument creating the power.

Source: L. 2014: Entire article added, (HB 14-1353), ch. 209, p. 781, § 1, effective July 1, 2015.