To the extent a powerholder of a general power of appointment, other than a power to revoke, amend, or withdraw property from a trust, makes an ineffective appointment: (1) the gift-in-default clause controls the disposition of the ineffectively appointed property; or (2) if there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property: (A) passes to: (i) the powerholder if the powerholder is a permissible appointee and living; or (ii) if the powerholder is an impermissible appointee or not living, the powerholder's estate if the estate is a permissible appointee; or (B) if there is no taker under subparagraph (A), passes under a reversionary interest to the donor or the donor's transferee or successor in interest. disposition of the ineffectively appointed property; or extent the clause is ineffective, the ineffectively appointed property: permissible appointee and living; or appointee or not living, the powerholder's estate if the estate is a permissible appointee; or passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
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