Legislation
SECTION 10-8.4
Rule against accumulations; law determining validity in
Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 10, PART 8
§ 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.
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.