A power of appointment is exercised only: 1. If the instrument exercising the power is valid under applicable law; 2. If the terms of the instrument exercising the power: a. Manifest the powerholder's intent to exercise the power; and b. Subject to § 64.2-2716, satisfy the requirements of exercise, if any, imposed by the donor; and 3. To the extent that the appointment is a permissible exercise of the power. 2016, c. 266.
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