(a) As used in this Code section, the term:
(1) "Collusive execution" means every execution whereby the person exercising a power uses it by contrivance for his own benefit, he not being legitimately an intended beneficiary.
(2) "Illusory appointment" means an appointment whereby a nominal benefit only is given to one of a class, to all of whom a substantial benefit was intended.
(b) Equity may relieve against mistaken or defective executions, collusive executions, and illusory appointments.
Section: Previous 23-2-110 23-2-111 23-2-112 23-2-113 23-2-114 23-2-115 23-2-116 23-2-117 23-2-118 23-2-119 23-2-120 NextLast modified: October 14, 2016