75A-4-301. Requisites for exercise of power of appointment.
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: manifest the powerholder's intent to exercise the power; and 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.