§ 34-11-38. Rule against perpetuities reform.
The common law rule against perpetuities shall no longer be deemed to be in force and/or of any effect in this state, provided, the provisions of this section shall not be construed to invalidate or modify the terms of any interest which would have been valid prior to the effective date of this act, and, provided further, that the provisions of this section shall apply to both legal and equitable interests.
(P.L. 1983, ch. 214, § 1; P.L. 1999, ch. 403, § 1.)