2006 New York Code - Powers



 
                                 ARTICLE 10
 
                                   POWERS
 
          PART 1. COMMON LAW OF POWERS ESTABLISHED WITH EXCEPTIONS
 
  Section 10-1.1  Common  law  of  powers  retained, except as modified by
                    this article.
 
                             PART 2. DEFINITIONS
 
  Section 10-2.1  Power.
          10-2.2  Other words defined.
 
                         PART 3. VARIETIES OF POWERS
 
  Section 10-3.1  Powers of appointment and other powers.
          10-3.2  Classification of powers  of  appointment  as  to  kind;
                    general and special; exclusive and non-exclusive.
          10-3.3  Classification  of  powers  of appointment as to time of
                    exercise;  presently  exercisable,  testamentary   and
                    postponed.
          10-3.4  Classification  of  powers  of appointment as to duty to
                    exercise; imperative and discretionary.
 
                 PART 4. CREATION OF A POWER OF APPOINTMENT
 
  Section 10-4.1  Rules for creation of a power of appointment.
 
         PART 5. EXTENT OF DONEE'S AUTHORITY TO APPOINT OR CONTRACT
                 TO APPOINT AN ESTATE IN APPOINTIVE PROPERTY
 
  Section 10-5.1  Scope of the authority of the donee.
          10-5.2  Contract to appoint; power presently exercisable.
          10-5.3  Contract to appoint; power not presently exercisable.
          10-5.4  Priority.
 
                 PART 6. RULES GOVERNING EXERCISE OF A POWER
                               OF APPOINTMENT
 
  Section 10-6.1  Exercise of a power  of  appointment;  manifestation  of
  intention of donee.
          10-6.2  Exercise  of  a  power  of  appointment;  conformity  to
                    directions of donor.
          10-6.3  Exercise of a power of appointment; type of instrument.
          10-6.4  Exercise of a power of appointment; required consents.
          10-6.5  Exercise  of  exclusive  and  non-exclusive   power   of
                    appointment.
          10-6.6  Exercise  of  a  power  of appointment; effect when more
                    extensive or less extensive than authorized; trustee's
                    authority to invade principal in trust.
          10-6.7  Exercise by all donees; exceptions.
          10-6.8  Imperative power of appointment; effectuation.
          10-6.9  Exercise of a power of appointment in further trust.
 
             PART 7. RIGHTS OF CREDITORS IN APPOINTIVE PROPERTY
 
  Section 10-7.1  Creditors of the donee; special power.
          10-7.2  Creditors  of  the  donee;   general   power   presently
                    exercisable.
          10-7.3  Creditors of the donee; power subject to a condition.
          10-7.4  Creditors  of  the  donee;  general  power not presently
                    exercisable.
 
           PART 8. RULE AGAINST PERPETUITIES AND ACCUMULATIONS AS
                      AFFECTED BY POWERS OF APPOINTMENT
 
  Section 10-8.1  Rule against perpetuities;  time  at  which  permissible
                  period begins.
          10-8.2  Rule   against   perpetuities;   law   which  determines
                    permissible period.
          10-8.3  Rule against perpetuities; facts to be considered.
          10-8.4  Rule against accumulations; law determining validity  in
                    exercise of a power of appointment.
 
          PART 9. REVOCATION AND RELEASE OF A POWER OF APPOINTMENT
 
  Section 10-9.1  Revocability of a power of appointment.
          10-9.2  Release of a power of appointment.
 
               PART 10. PROVISIONS AFFECTING POWERS OTHER THAN
                            POWERS OF APPOINTMENT
 
  Section 10-10.1 Power   to  distribute  principal  or  allocate  income;
                  restriction on exercise.
          10-10.2 Power to lease in tenant for life; scope.
          10-10.3 Power  to  lease  in  tenant  for  life;  transfer   and
                    extinguishment.
          10-10.4 Power to lease in tenant for life; effect of mortgage.
          10-10.5 Power to sell in a mortgage.
          10-10.6 Effect of reserved unqualified power to revoke.
          10-10.7 Exercise  of  powers  by multiple fiduciaries; joint and
                    several powers.
          10-10.8 Irrevocability  of   powers   other   than   powers   of
                    appointment.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.