(760 ILCS 3/1322)
Sec. 1322. Appointment to taker in default. If a powerholder of a general power makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift-in-default clause had the property not been appointed, the power of appointment is deemed not to have been exercised, and the appointee takes under the gift-in-default clause.
(Source: P.A. 101-48, eff. 1-1-20 .) |