N.Y. EPTL 10-3.4

Current through 2024 NY Law Chapter 553
Section 10-3.4 - Classification of powers of appointment as to duty to exercise; imperative and discretionary
(a) A power of appointment is either imperative or discretionary.
(b) A power of appointment is imperative if the instrument creating it imposes on the donee a duty to exercise it, and it may be imperative even though it is exclusive.
(c) A power of appointment is discretionary if the donee is authorized to exercise or not to exercise it.

N.Y. EPTL 10-3.4