2010 New York Code
EPT - Estates, Powers & Trusts
Article 9 - PERPETUITIES AND ACCUMULATIONS
Part 1 - (9-1.1 - 9-1.8) PERPETUITIES
9-1.7 - Trust for self-employed individuals and others

§ 9-1.7 Trust for self-employed individuals and others
    No trust created under a retirement plan, which is exempt from federal
  income  taxation  under  the  laws  of  the United States, is invalid as
  violating the rule against  perpetuities  or  the  rules  governing  the
  accumulation  of income.  Such a trust may continue for such time as may
  be necessary to accomplish the purposes for which  it  is  created;  may
  permit  the  accumulation  of  income  until  such time as the income is
  distributed to the beneficiaries under the terms of the trust; and  may,
  according  to  its  terms,  be  made irrevocable and the interest of its
  beneficiaries nontransferable by assignment or otherwise.   A  trust  so
  made  irrevocable  is not subject to revocation upon the written consent
  of its beneficiaries as provided in 7-1.9.