2002 Minnesota Statutes

     524.1-108 Acts by holder of general power.  

    For the purpose of granting consent or approval with regard 
 to the acts or accounts of a personal representative or trustee, 
 including relief from liability or penalty for failure to post 
 bond or to perform other duties, and for purposes of consenting 
 to modification or termination of a trust or to deviation from 
 its terms, the sole holder or all coholders of a presently 
 exercisable general power of appointment, including one in the 
 form of a power of amendment or revocation, are deemed to act 
 for beneficiaries to the extent their interests as objects, 
 takers in default, or otherwise, are subject to the power.  

    HIST: 1974 c 442 art 1 s 524.1-108; 1975 c 347 s 14