N.Y. Estates, Powers and Trusts Law 10-8.4 – Rule against accumulations; law determining validity in
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§ 10-8.4 Rule against accumulations; law determining validity in
exercise of a power of appointment
When a direction for the accumulation of income is contained in an instrument exercising a power, heretofore or hereafter created, the validity of such direction is determined by the law in effect when the power is exercised, and not by the law in effect when the power was created.