10-8.4 - Rule against accumulations; law determining validity in exercise of a power of appointment - New York Statutes

§ 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.