A disclaimer by an appointee of a nonfiduciary power of appointment must be:

1. (1) delivered to:

   1. (A) the holder;
   2. (B) the personal representative of the holder's estate; or
   3. (C) the fiduciary under the instrument that created the power; or
2. (2) filed with a court having authority to appoint the fiduciary if no fiduciary is then serving.

As added by P.L.5-2003, SEC.1.