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N.Y. Est. Powers & Trusts Law § 10-3.2

Classification of powers of appointment as to kind; general and

2014-09-22

§ 10-3.2 Classification of powers of appointment as to kind; general and\n special; exclusive and non-exclusive\n (a) A power of appointment is:\n (1) general or special.\n (2) exclusive or non-exclusive.\n (b) A power of appointment is general to the extent that it is\nexercisable wholly in favor of the donee, his estate, his creditors or\nthe creditors of his estate.\n (c) All other powers of appointment are special.\n (d) A special power of appointment is exclusive if it may be exercised\nin favor of one or more of the appointees to the exclusion of the\nothers.\n (e) A special power of appointment is non-exclusive if it must be\nexercised in favor of all the appointees.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.