Section 10-6.8. Imperative power of appointment; effectuation

(a)  The  exercise of an imperative power of appointment devolves upon
  the supreme court or, in the case of a will, the  surrogate's  court  in
  the following cases:
    (1) Failure to designate the donee.
    (2) Death of the designated donee without exercising the power.
    (3) Incompetence of the sole donee.
    (4)  Defective exercise of the power, either wholly or in part, by the
  donee.
    (b) Where an imperative power of appointment:
    (1) Is exclusive, and the donee dies without exercising the power,  it
  must be exercised for the benefit of all of the appointees equally.
    (2)  Has  been  exercised defectively by the donee, it may be properly
  exercised in favor of persons intended to be benefited by the donee.
    (3) Has been exercised defectively by the donee,  a  purchaser  for  a
  valuable   consideration  claiming  under  such  defective  exercise  is
  entitled to the same relief as a  similar  purchaser  claiming  under  a
  defective disposition from an actual owner.
    (4)  Is  non-exclusive,  and the right of the appointee is assignable,
  creditors or assignees of such appointee can compel the exercise of such
  power for their benefit.
    (5) Is non-exclusive, the committee of an appointee  or  his  assignee
  for the benefit of creditors can compel the exercise of such power.