To the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment: (1) The gift-in-default clause controls the disposition of the unappointed property; or (2) If there is no gift -in-default clause or to the extent the clause is ineffective, the unappointed property: (a) Passes to the permissible appointees if: 1. The permissible appointees are defined and limited; and 2. The terms of the instrument creating the power do not manifest a contrary intent; or (b) If there is no taker under paragraph (a) of this subsection, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
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