(a) The rule of the common law known as the rule against perpetuities is abolished. (b) Article 2 of this Chapter sets out the Uniform Statutory Rule Against Perpetuities. (c) This section applies to a property interest or a power of appointment created on or after October 1, 1995. This section clarifies the intent of the General Assembly to abolish the common-law rule against perpetuities when it enacted Chapter 190 of the 1995 Session Laws, which enacted the Uniform Statutory Rule Against Perpetuities.
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