State Codes and Statutes

Statutes > Pennsylvania > Title-20 > Chapter-61 > 6107-1

§ 6107.1. Applicability of rule against perpetuities. (a) Traditional rule.--Sections 6104 (relating to rule against perpetuities), 6105 (relating to rule against perpetuities; disposition when invalidity occurs), 6106 (relating to income accumulations; when valid) and 6107 (relating to income accumulations; disposition when invalidity occurs): (1) shall apply to every interest created before January 1, 2007; but (2) shall not apply to any interest created after December 31, 2006. (b) Modern rule.--All of the following apply to every interest created after December 31, 2006: (1) No interest shall be void as a perpetuity. (2) No direction or authorization to accumulated income shall be void as a perpetuity. (July 7, 2006, P.L.625, No.98, eff. imd.) 2006 Amendment. Act 98 added section 6107.1. Cross References. Section 6107.1 is referred to in sections 6106, 6107 of this title.

State Codes and Statutes

Statutes > Pennsylvania > Title-20 > Chapter-61 > 6107-1

§ 6107.1. Applicability of rule against perpetuities. (a) Traditional rule.--Sections 6104 (relating to rule against perpetuities), 6105 (relating to rule against perpetuities; disposition when invalidity occurs), 6106 (relating to income accumulations; when valid) and 6107 (relating to income accumulations; disposition when invalidity occurs): (1) shall apply to every interest created before January 1, 2007; but (2) shall not apply to any interest created after December 31, 2006. (b) Modern rule.--All of the following apply to every interest created after December 31, 2006: (1) No interest shall be void as a perpetuity. (2) No direction or authorization to accumulated income shall be void as a perpetuity. (July 7, 2006, P.L.625, No.98, eff. imd.) 2006 Amendment. Act 98 added section 6107.1. Cross References. Section 6107.1 is referred to in sections 6106, 6107 of this title.

State Codes and Statutes

State Codes and Statutes

Statutes > Pennsylvania > Title-20 > Chapter-61 > 6107-1

§ 6107.1. Applicability of rule against perpetuities. (a) Traditional rule.--Sections 6104 (relating to rule against perpetuities), 6105 (relating to rule against perpetuities; disposition when invalidity occurs), 6106 (relating to income accumulations; when valid) and 6107 (relating to income accumulations; disposition when invalidity occurs): (1) shall apply to every interest created before January 1, 2007; but (2) shall not apply to any interest created after December 31, 2006. (b) Modern rule.--All of the following apply to every interest created after December 31, 2006: (1) No interest shall be void as a perpetuity. (2) No direction or authorization to accumulated income shall be void as a perpetuity. (July 7, 2006, P.L.625, No.98, eff. imd.) 2006 Amendment. Act 98 added section 6107.1. Cross References. Section 6107.1 is referred to in sections 6106, 6107 of this title.