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Panel backs extending vesting period in rule‑against‑perpetuities from 90 to 360 years
Summary
The subcommittee approved a bill to extend the Uniform Statutory Rule Against Perpetuities from 90 to 360 years, with bar witnesses saying the change would allow dynasty trusts and could encourage wealth to remain in the state.
The Senate Judiciary subcommittee voted to report favorably a bill that would extend the statute governing when future property interests must vest, moving the Uniform Statutory Rule Against Perpetuities' default vesting period from 90 years to 360 years.
Paula, committee staff, summarized the change as an extension of the period by which a nonvested property interest becomes valid…
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