Illinois Code § 760 ILCS 3/1329

Power to contract: presently exercisable power of appointment.
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A powerholder of a presently exercisable power of appointment may contract:

 
 
(1) not to exercise the power; or

 
 
(2) to exercise the power if the contract when made 
 
does not confer a benefit on an impermissible appointee. 

does not confer a benefit on an impermissible appointee.

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