To the extent that a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend 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 that the clause is ineffective, the ineffectively appointed property: a. Passes to: (1) The powerholder if the powerholder is a permissible appointee and living; or (2) If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or b. If there is no taker under subdivision 2 a, passes under a reversionary interest to the donor or the donor's transferee or successor in interest. 2016, c. 266.
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