(a) If a fiduciary disclaims a power held in a fiduciary capacity which 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 which 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 28-2-204 28-2-205 28-2-206 28-2-207 28-2-208 28-2-209 28-2-210 28-2-211 28-2-212 28-2-213 28-2-214 28-2-215 28-2-216 28-2-217 28-2-218 NextLast modified: November 15, 2016