Powerholder’s authority to revoke or amend exercise

702.314 Powerholder’s authority to revoke or amend exercise. A powerholder may revoke or amend an exercise of a power of appointment only to the extent that any of the following applies: (1) The powerholder reserves a power of revocation or amendment in the instrument exercising the power of appointment and, if the power is a nongeneral power of appointment, the terms of the instrument creating the power of appointment do not prohibit the reservation. (2) The terms of the instrument creating the power of appointment provide that the exercise of the power of appointment is revocable or amendable. History: 2023 a. 127.