There is a newer version
of
the New York Laws
2018 New York Laws
EPT - Estates, Powers and Trusts
Article 10 - Powers
Part 5 - Extent of Donee's Authority to Appoint or Contract to Appoint an Estate in Appointive Property
10-5.2 - Contract to Appoint; Power Presently Exercisable
Universal Citation: NY Est Pow & Trusts L § 10-5.2 (2018)
§ 10-5.2 Contract to appoint; power presently exercisableThe donee of a power of appointment which is presently exercisable, or of a postponed power which has become exercisable, can contract to make an appointment to the extent that the contract or the promised appointment does not confer a benefit upon a person who is not a permissible appointee under the power.
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