Section 9-2.2. Anticipation of directed accumulation  


Latest version.
  • (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.