Sec. 10. A spendthrift provision described in section 4(4) of this chapter is considered a restriction on the transfer of the transferor's beneficial interest in the trust that is enforceable under applicable nonbankruptcy law within the meaning of Section 541(c)(2) of the federal Bankruptcy Code (11 U.S.C. 541(c)(2)) or any successor provision of the federal Bankruptcy Code.
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