Presumption of unlimited authority

Subject to the provisions of G.S. 31D-2-205, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is all of the following: (1) Presently exercisable. (2) Exclusionary. (3) Except as otherwise provided in G.S. 31D-2-204, general. (2015-205, s. 3(a).)