§ 10-6.5 Exercise of exclusive and non-exclusive power of appointment\n (a) Unless the donor expressly provides otherwise:\n (1) The donee of an exclusive power may appoint all or any part of the\nappointive property to one or more of the appointees to the exclusion of\nthe others.\n (2) The donee of a non-exclusive power must appoint in favor of all of\nthe appointees equally.\n
N.Y. Est. Powers & Trusts Law § 10-6.5
Exercise of exclusive and non-exclusive power of appointment
2017-06-30
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.