AR HB1339

Increases the perpetual trust duration from 90 years to 365 years for nonvested property interests under Arkansas Code § 18-3-101(a)(2).

Extends the perpetual trust duration from 90 years to 365 years for general powers of appointment not presently exercisable under § 18-3-101(b)(2).

Extends the perpetual trust duration from 90 years to 365 years for nongeneral and general testamentary powers of appointment under § 18-3-101(c)(2).

Updates the court reformation standard in § 18-3-103 to conform dispositions within the new 365-year timeframe instead of the previous 90-year limit.

Changes the short title of the chapter from "Uniform Statutory Rule Against Perpetuities" to "Statutory Rule Against Perpetuities" and repeals § 18-3-107 regarding uniform application among states.