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: (i) the permissible appointees are defined and limited; and (ii) the terms of the instrument creating the power do not manifest a contrary intent; or (B) if there is no taker under subdivision (A) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
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