There is a newer version of the New York Consolidated Laws
2014 New York Laws
EPT - Estates, Powers & Trusts
Article 10 - POWERS
Part 8 - (10-8.1 - 10-8.4) RULE AGAINST PERPETUITIES AND ACCUMULATIONS AS AFFECTED BY POWERS OF APPOINTMENT
10-8.4 - Rule against accumulations; law determining validity in exercise of a power of appointment
NY Est Pow & Trusts L § 10-8.4 (2014) What's This?
10-8.4 Rule against accumulations; law determining validity inexercise 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.
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