Requisites for exercise of power of appointment

(a) 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 § 19-1703.04, satisfy the requirements of exercise, if any, imposed by the donor; and (3) To the extent the appointment is a permissible exercise of the power.