New York Estates, Powers & Trusts Law Section 10-5.2 - Contract to appoint; power presently exercisable

10-5.2 Contract to appoint; power presently exercisable
The donee of a power of appointment which is presently exercisable, or
  of  a postponed power which has become exercisable, can contract to make
  an  appointment  to  the  extent  that  the  contract  or  the  promised
  appointment  does  not  confer  a  benefit  upon  a  person who is not a
  permissible appointee under the power.

Last modified: February 3, 2019