Alabama Code (Last Updated: November 28, 2014) |
Title35 PROPERTY. |
Chapter4A. ALABAMA UNIFORM STATUTORY RULE AGAINST PERPETUITIES. |
§35-4A-6. Prospective application.
Latest version.
-
This chapter applies to a nonvested property interest or a power of appointment that is created on or after January 1, 2012. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable.