For purposes of this chapter:
(a) If there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of (1) a nonvested property interest or (2) a property interest subject to a power of appointment described in Section 21206 or 21207, the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.
(b) A joint power with respect to community property held by individuals married to each other is a power exercisable by one person alone.
(Added by Stats. 1991, Ch. 156, Sec. 24.)
Last modified: October 25, 2018