CHAPTER 6. POWERS OF APPOINTMENT-RENUNCIATION OR EXERCISE

IC 32-17-6
    Chapter 6. Powers of Appointment-Renunciation or Exercise

IC 32-17-6-1
Application of chapter
    Sec. 1. This chapter applies to a person who holds a power ofappointment under any of the following:
        (1) A last will and testament of a decedent.
        (2) A deed.
        (3) An indenture of trust inter vivos.
        (4) An insurance policy.
        (5) Any other contract or instrument.
As added by P.L.2-2002, SEC.2.

IC 32-17-6-2
Execution of instruments; renouncing or exercising power
    Sec. 2. A person described in section 1 of this chapter mayexecute an appropriate written instrument to, in whole or in part:
        (1) renounce the person's right of appointment; or
        (2) exercise the person's power of appointment one (1) or moretimes.
As added by P.L.2-2002, SEC.2.

IC 32-17-6-3
Renouncing right of appointment
    Sec. 3. A renouncement of a right of appointment is final andirrevocable unless the right to revoke the renouncement or torepossess the right of appointment is expressly reserved in theinstrument of renouncement.
As added by P.L.2-2002, SEC.2.

IC 32-17-6-4
Power of appointment
    Sec. 4. Unless a person exercising a power of appointmentexpressly renounces and surrenders the right to revoke anappointment in the instrument of appointment, the person maysubsequently revoke the appointment and may periodically:
        (1) exercise;
        (2) revoke the exercise of; and
        (3) reexercise the power of appointment.
As added by P.L.2-2002, SEC.2.

IC 32-17-6-5
Effect of subsequent appointment
    Sec. 5. A subsequent exercise of a right of appointment is arevocation of all prior appointments to the extent that the subsequentappointment conflicts or is inconsistent with any prior appointments.
As added by P.L.2-2002, SEC.2.

IC 32-17-6-6 Last unrevoked appointment
    Sec. 6. The last unrevoked exercise of a power of appointment iseffective and controlling.
As added by P.L.2-2002, SEC.2.