H0203B0171A03604 NAD:EJH 10/02/17 #90 A03604
AMENDMENTS TO HOUSE BILL NO. 203
Sponsor: SENATOR RAFFERTY
Printer's No. 171
Amend Bill, page 1, line 5, by striking out the period after
"directors" and inserting
; and, in powers of appointment, further providing for exercise
of powers of appointment.
Amend Bill, page 1, lines 8 and 9, by striking out all of
said lines and inserting
Section 1. Sections 3101(a) and 7602(e)(2) of Title 20 of
the Pennsylvania Consolidated Statutes are amended to read:
Amend Bill, page 2, line 7, by striking out all of said line
and inserting
ยง 7602. Exercise of powers of appointment.
* * *
(e) Testamentary powers.--
* * *
(2) A grant of a testamentary power to appoint to the
donee's creditors shall be construed as a power to appoint to
the creditors of the donee's estate. In the absence of a
specific contrary intent appearing in the instrument, the
grant of a testamentary power that denies the right to
appoint to the donee's creditors shall be construed as also
denying the power to appoint to the creditors of the donee's
estate.
* * *
Section 2. The amendment of section 7602(e)(2) shall apply
to all powers of appointment created before, on or after the
effective date of this section.
Section 3. This act shall take effects as follows:
(1) The amendment of section 3101(a) shall take effect
in 60 days.
(2) The remainder of this act shall take effect
immediately.
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See A03604 in
the context
of HB0203