1. (1) As used in this section, "adverse party" means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.
2. (2)
3. (3)

Effective: July 15, 2020

History: Created 2020 Ky. Acts ch. 41, sec. 8, effective July 15, 2020.