N.Y. Est. Powers & Trusts Law § 10-8.1

§ 10-8.1 Rule against perpetuities; time at which permissible period\n begins\n (a) Where an estate is created by an instrument exercising a power of\nappointment, the permissible period of the rule against perpetuities\nbegins:\n (1) In the case of an instrument exercising a general power which is\npresently exercisable, on the effective date of the instrument of\nexercise.\n (2) In all other cases, at the time of the creation of the power.\n (b) Where the creator of a trust reserves to himself an unqualified\npower to revoke, the permissible period of the rule against perpetuities\nbegins when the power to revoke terminates by reason of the death of the\ncreator, by a release of such power or otherwise.\n