14-10011. Disclaimer of power held in fiduciary capacity
A. If a fiduciary disclaims a power held in a fiduciary capacity that has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.
B. If a fiduciary disclaims a power held in a fiduciary capacity that has been exercised, the disclaimer takes effect immediately after the last exercise of the power.
C. A disclaimer under this section is effective as to another fiduciary if the disclaimer so provides and the fiduciary disclaiming has the authority to bind the estate, trust or other person for whom the fiduciary is acting.
Section: Previous 14-10004 14-10005 14-10006 14-10007 14-10008 14-10009 14-10010 14-10011 14-10012 14-10013 14-10014 14-10015 14-10016 14-10017 14-10018 NextLast modified: October 13, 2016