https://www.taxtmi.com/acts?id=15248 Trustees for minors may at their discretion pay or apply the minor's income for maintenance, education, advancement in life, and reasonable religious, marriage or funeral expenses, paying guardians where applicable. Unapplied residue must be accumulated as compound interest by reinvestment in prescribed securities, though accumulations may be applied as current income. If income is insufficient, the trustee may apply capital for the minor's needs only with the permission of a principal Civil Court of original jurisdiction. Local laws concerning minors' persons and property remain unaffected. en-us Wed, 21 Sep 2011 10:36:24 +0530 Wed, 21 Sep 2011 10:36:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15248 Trustees for minors may at their discretion pay or apply the minor's income for maintenance, education, advancement in life, and reasonable religious, marriage or funeral expenses, paying guardians where applicable. Unapplied residue must be accumulated as compound interest by reinvestment in prescribed securities, though accumulations may be applied as current income. If income is insufficient, the trustee may apply capital for the minor's needs only with the permission of a principal Civil Court of original jurisdiction. Local laws concerning minors' persons and property remain unaffected. Act-Rules Trust and Society Wed, 21 Sep 2011 10:36:24 +0530 https://www.taxtmi.com/acts?id=15248