New York Estates, Powers & Trusts Law Section 10-8.4 - Rule against accumulations; law determining validity in exercise of a power of appointment

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.

Last modified: February 3, 2019