30.1-10.1-07. (2-1110) Disclaimer by appointee, object, or taker in default of exercise of power of appointment.

1. The disclaimer by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable.

2. A disclaimer by the object or taker in default of an exercise of a power of appointment takes effect as of the time the instrument creating the power becomes irrevocable.