There is a newer version
of
the New York Laws
2020 New York Laws
EPT - Estates, Powers and Trusts
Article 10 - Powers
Part 3 - Varieties of Powers
10-3.2 - Classification of Powers of Appointment as to Kind; General and Special; Exclusive and Non-Exclusive
Universal Citation: NY Est Pow & Trusts L § 10-3.2 (2020)
§ 10-3.2 Classification of powers of appointment as to kind; general and
special; exclusive and non-exclusive (a) A power of appointment is:
(1) general or special.
(2) exclusive or non-exclusive.
(b) A power of appointment is general to the extent that it is
exercisable wholly in favor of the donee, his estate, his creditors or
the creditors of his estate.
(c) All other powers of appointment are special.
(d) A special power of appointment is exclusive if it may be exercised
in favor of one or more of the appointees to the exclusion of the
others.
(e) A special power of appointment is non-exclusive if it must be
exercised in favor of all the appointees.
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