[§526-11]  Disclaimer of power held in
fiduciary capacity.  (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. [L 2000, c 43, pt of §1]