Sec. 45a-572. (Formerly Sec. 45-123a). Exercise in favor of further power. - Connecticut Statutes

      Sec. 45a-572. (Formerly Sec. 45-123a). Exercise in favor of further power. (a) Except to the extent otherwise expressly provided in the instrument creating the power, the donee of a power of appointment over any trust may appoint all or any part of the property subject to such power in further trust and may create further special powers of appointment. Where the donee of the original power could have appointed the property outright to the donee of the further power, any restrictions on the class of permissible appointees imposed by the donor of the original power shall lapse with the exercise of such power. The trustee of any trust the property of which is so appointed shall transfer and pay over such appointed property to the trustee designated by the donee, to be administered subject to the jurisdiction of any court having jurisdiction over the trust to which such property is appointed.

      (b) Nothing contained in this section shall be construed to permit the creation of any interest which violates the rule against perpetuities.

      (c) This section shall be applicable to all powers of appointment whether created before, on or after June 9, 1976.

      (P.A. 76-425, S. 1-4; P.A. 80-476, S. 339.)

      History: P.A. 80-476 corrected spelling errors; Sec. 45-123a transferred to Sec. 45a-572 in 1991.