Section 23-2-113. When equity may relieve against collusive, illusory, mistaken, etc., executions

   (a) As used in this Code section, the term:

   (1) "Collusive execution" means every execution whereby the person exercising a power uses it by contrivance for his own benefit, he not being legitimately an intended beneficiary.

   (2) "Illusory appointment" means an appointment whereby a nominal benefit only is given to one of a class, to all of whom a substantial benefit was intended.

(b) Equity may relieve against mistaken or defective executions, collusive executions, and illusory appointments.

Orig. Code 1863, §§ 3098, 3099, 3100; Code 1868, §§ 3110, 3111, 3112; Code 1873, §§ 3167, 3168, 3169; Code 1882, §§ 3167, 3168, 3169; Civil Code 1895, §§ 4018, 4019, 4020; Civil Code 1910, §§ 4615, 4616, 4617; Code 1933, §§ 37-602, 37-603, 37-604.