AR SB533

Creates the Dynasty Trust Act to allow perpetual trusts (dynasty trusts) to be created in Arkansas, aligning the state with the majority of states that permit such trusts.

Amends Arkansas Code § 18-3-102 to specify that nonvested property interests or powers of appointment created through the exercise of another power of appointment are deemed created at the same time as the original power of appointment.

Amends Arkansas Code § 18-3-104 to add an exclusion from the rule against perpetuities for trusts created or administered in Arkansas that have trustees with power to sell assets or persons with unlimited power to terminate the trust.

Allows trusts whose principal place of administration is transferred to Arkansas to qualify for the perpetual trust exception regardless of when the trust was originally created, effective on the act's effective date.

Enables transfer of trust assets held in trust back to Arkansas without creating a taxable event by suspending the rule against perpetuities during the trust's life, with the rule beginning to run only from the date of suspension.