Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
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.
History: 1974 c 442 art 1 s 524.1-108; 1975 c 347 s 14
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.
History: 1974 c 442 art 1 s 524.1-108; 1975 c 347 s 14
Official Publication of the State of Minnesota
Revisor of Statutes