Laws of New York (Last Updated: November 21, 2014) |
EPT Estates, Powers and Trusts |
Article 10. POWERS |
Part 3. VARIETIES OF POWERS |
Section 10-3.4. Classification of powers of appointment as to duty to exercise;
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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.