Application · as in force on May 31, 2026
§ 7-5.8 Application
This part shall apply to all funds in trust accounts, as defined in paragraph (d) of section 7-5.1, which are in existence on its effective date, except that its provisions shall not impair or defeat any rights which have accrued prior to such date.
This part applies to all qualifying trust-account funds already in existence on its effective date, but it cannot impair or defeat rights that accrued before that date. ★
Marked in the text: penalties, time limits, sums of money. Editorial emphasis added by this edition; it does not appear in the statute as enacted.
This provision appears in Volume 1 — The Surrogate's Court in Plain English; Volume 3 — The Surrogate's Court: Court Rules & the EPTL; Volume 5 — Your Career: Surrogate's Court in Plain English.