2010 New York Code
EPT - Estates, Powers & Trusts
Article 10 - POWERS
Part 3 - (10-3.1 - 10-3.4) VARIETIES OF POWERS
10-3.3 - Classification of powers of appointment as to time of exercise; presently exercisable, testamentary and postponed

§ 10-3.3 Classification of powers of appointment as to time of exercise;
             presently exercisable, testamentary and postponed
    (a)  A power of appointment, as to the time of its exercise, is either
  presently exercisable, testamentary or postponed.
    (b) A power of appointment is  presently  exercisable  if  it  may  be
  exercised  by  the donee, during his lifetime or by his written will, at
  any time after its creation, and does not include a postponed  power  as
  described in paragraph (d).
    (c)  A  power of appointment is testamentary if it is exercisable only
  by a written will of the donee.
    (d) A power of appointment is postponed if it is  exercisable  by  the
  donee only after the expiration of a stated time or after the occurrence
  or non-occurrence of a specified event.