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This entry was published on 2014-09-22
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SECTION 9-2.2
Anticipation of directed accumulation
Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 9, PART 2
§ 9-2.2 Anticipation of directed accumulation

(a) When a valid accumulation is directed for the benefit of a person
without other sufficient means to support or educate himself, the
supreme court or, if such accumulation was directed by will, the
surrogate's court of the county in which such will is admitted to
probate, on the application of such person, his guardian, committee, or
conservator may direct that a suitable sum from the income accumulated
or to be accumulated be applied for the support or education of such
person.

(b) When the proceeds of a life insurance policy issued or delivered
in this state are being retained under an agreement by the insurer to
credit interest thereon for the benefit of a person without other
sufficient means to support or educate himself, the supreme court, on
the application of such person, his guardian, committee, or conservator
may direct that a suitable sum from the interest credited or agreed to
be credited be applied for the support or education of such person.