§ 10-8.4 Rule against accumulations; law determining validity in\n exercise of a power of appointment\n When a direction for the accumulation of income is contained in an\ninstrument exercising a power, heretofore or hereafter created, the\nvalidity of such direction is determined by the law in effect when the\npower is exercised, and not by the law in effect when the power was\ncreated.\n
Rule against accumulations; law determining validity in
N.Y. Estates, Powers & Trusts Law § 10-8.4, under Rule Against Perpetuities and Accumulations As Affected By Powers of Appointment.
N.Y. Estates, Powers & Trusts Law § 10-8.4