Truly Agreed, 2016

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SS HCS HB 1765, 2016    (New Section - as Truly Agreed)    

456.985. 1. Except as otherwise provided in the terms of an instrument creating or exercising a power of appointment, sections 456.970 to 456.1135 govern powers of appointment.
     2. The terms of an instrument creating or exercising a power of appointment prevail over any provisions of sections 456.970 to 456.1135 except:
     (1) The transferability of a power of appointment by a powerholder under subsection 1 of section 456.995;
     (2) The limitations on the authority of a donor to extend a general power of appointment beyond the death of a powerholder under subsection 3 of section 456.995;
     (3) The power is exclusionary if the permissible appointees of a power of appointment are not defined and limited under subsection 3 of section 456.1005;
     (4) The requisites for the exercise of a power of appointment under section 456.1015;
     (5) The effect of an impermissible appointment under section 456.1045;
     (6) A general power of appointment which is presently exercisable may be reached by the creditors of the powerholder or the powerholder's estate under section 456.1100.


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