Sec. 45a-491. Statutory rule against perpetuities.
Sec. 45a-491. Statutory rule against perpetuities. (a) A nonvested property interest is invalid unless: (1) When the interest is created, it is certain to vest or terminate
no later than twenty-one years after the death of an individual then alive; or (2) the
interest either vests or terminates within ninety years after its creation.
(b) A general power of appointment not presently exercisable because of a condition
precedent is invalid unless: (1) When the power is created, the condition precedent is
certain to be satisfied or become impossible to satisfy no later than twenty-one years
after the death of an individual then alive; or (2) the condition precedent either is satisfied
or becomes impossible to satisfy within ninety years after its creation.
(c) A nongeneral power of appointment or a general testamentary power of appointment is invalid unless: (1) When the power is created, it is certain to be irrevocably
exercised or otherwise to terminate no later than twenty-one years after the death of an
individual then alive; or (2) the power is irrevocably exercised or otherwise terminates
within ninety years after its creation.
(d) In determining whether a nonvested property interest or a power of appointment
is valid under subdivision (1) of subsection (a), (b) or (c) of this section, the possibility
that a child will be born to an individual after the individual's death is disregarded.
(e) If, in measuring a period from the creation of a trust or other property arrangement, language in a governing instrument (1) seeks to disallow the vesting or termination
of any interest or trust beyond, (2) seeks to postpone the vesting or termination of any
interest or trust until, or (3) seeks to operate in effect in any similar fashion upon, the
later of (A) the expiration of a period of time not exceeding twenty-one years after the
death of the survivor of specified lives in being at the creation of the trust or other
property arrangement or (B) the expiration of a period of time that exceeds or might
exceed twenty-one years after the death of the survivor of lives in being at the creation
of the trust or other property arrangement, that language is inoperative to the extent it
produces a period of time that exceeds twenty-one years after the death of the survivor
described in subparagraph (A) of this subsection. Nothing in this subsection shall affect
the validity of the other provisions of the trust or other property arrangement or of the
governing instrument.
(P.A. 89-44, S. 2; P.A. 91-40.)
History: P.A. 91-40 added Subsec. (e) re when language in a governing instrument is rendered inoperative.