197. Characteristics of an enduring power.

A power of attorney cannot be an enduring power1 unless, when he executed the instrument creating it2, the attorney was:

  1.  

    (1)     an individual who had attained 18 years and was not bankrupt or subject to a debt relief order3; or

  2.  

    (2)     a trust corporation4.

A power of attorney also cannot be an enduring power if it gives the attorney a right to appoint a substitute or successor