New York Estates, Powers & Trusts Law Section 10-3.4 - Classification of powers of appointment as to duty to exercise; imperative and discretionary

10-3.4 Classification of powers of appointment as to duty to exercise;
         imperative and discretionary
(a) A power of appointment is either imperative or discretionary.
(b) A power of appointment is imperative if the instrument creating it
  imposes  on  the  donee  a duty to exercise it, and it may be imperative
  even though it is exclusive.
(c) A power of appointment is discretionary if the donee is authorized
  to exercise or not to exercise it.

Last modified: February 3, 2019