ROBERT L. EHRLICH, JR., Governor                         H.B. 1348

(2) A TRUST CREATED PURSUANT TO A STATUTE, JUDGMENT, OR
DECREE THAT REQUIRES THAT THE TRUST BE ADMINISTERED IN THE MANNER OF
AN EXPRESS TRUST.

9-202.

(A)     (1) A PERSON MAY DISCLAIM IN WHOLE OR IN PART ANY INTEREST IN
OR POWER OVER PROPERTY, INCLUDING A POWER OF APPOINTMENT.

(2) A PERSON MAY DISCLAIM THE INTEREST OR POWER EVEN IF THE
CREATOR IMPOSED A SPENDTHRIFT PROVISION OR SIMILAR RESTRICTION UPON
TRANSFER OR A RESTRICTION OR LIMITATION ON THE RIGHT TO DISCLAIM.

(B)     (1) EXCEPT TO THE EXTENT THAT A FIDUCIARY'S RIGHT TO DISCLAIM IS
EXPRESSLY RESTRICTED OR LIMITED BY ANOTHER STATUTE OF THE STATE OR BY
THE INSTRUMENT CREATING THE FIDUCIARY RELATIONSHIP, A FIDUCIARY MAY
DISCLAIM IN WHOLE OR IN PART ANY INTEREST IN OR POWER OVER PROPERTY,
INCLUDING A POWER OF APPOINTMENT, WHETHER ACTING IN A PERSONAL OR
REPRESENTATIVE CAPACITY.

(2) A FIDUCIARY MAY DISCLAIM THE INTEREST OR POWER EVEN IF THE
CREATOR IMPOSED A SPENDTHRIFT PROVISION OR SIMILAR RESTRICTION UPON
TRANSFER OR A RESTRICTION OR LIMITATION ON THE RIGHT TO DISCLAIM, OR AN
INSTRUMENT OTHER THAN THE INSTRUMENT THAT CREATED THE FIDUCIARY
RELATIONSHIP IMPOSED A RESTRICTION OR LIMITATION ON THE RIGHT TO
DISCLAIM.

(C)     TO BE EFFECTIVE, A DISCLAIMER MUST:

(1)      BE IN WRITING OR OTHER RECORD;

(2)      DECLARE THE DISCLAIMER;

(3)      DESCRIBE THE INTEREST OR POWER DISCLAIMED;

(4)      BE SIGNED BY THE PERSON MAKING THE DISCLAIMER; AND

(5)      BE DELIVERED OR FILED IN THE MANNER PROVIDED IN § 9-209 OF
THIS SUBTITLE.

(D)     A PARTIAL DISCLAIMER MAY BE EXPRESSED AS A FRACTION,
PERCENTAGE, MONETARY AMOUNT, TERM OF YEARS, LIMITATION OF A POWER, OR
ANY OTHER INTEREST OR ESTATE IN THE PROPERTY.

(E)     A DISCLAIMER BECOMES IRREVOCABLE WHEN IT IS DELIVERED OR FILED
PURSUANT TO § 9-209 OF THIS SUBTITLE OR WHEN IT BECOMES EFFECTIVE AS
PROVIDED IN §§ 9-203 THROUGH 9-208 OF THIS SUBTITLE, WHICHEVER OCCURS
LATER

(F)     A DISCLAIMER MADE UNDER THIS SUBTITLE IS NOT A TRANSFER,
ASSIGNMENT, OR RELEASE.

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