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2007 Laws of Maryland
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Ch. 381
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DETERMINED DATE OR 60 YEARS AFTER THE EFFECTIVE DATE OF THE
PROPERTY INTEREST.
(4) A DOCUMENT CREATING A NONDONATIVE PROPERTY
INTEREST THAT REFERS TO ONE OR MORE LIVES IN BEING FOR DETERMINING
THE DATE BY WHICH THE PROPERTY INTEREST SHALL BE EXERCISED OR
VESTED SHALL BE VOID:
(I) IF THE REFERENCE IS TO THE DURATION OF NOT MORE
THAN 10 IDENTIFIED LIVES IN BEING AND NOT MORE THAN 21 YEARS, AT THE
EXPIRATION OF THE PERIOD OF TIME REFERENCED; OR
(II) IF THE REFERENCE IS TO THE DURATION OF MORE
THAN 10 IDENTIFIED LIVES IN BEING OR TO IDENTIFIED LIVES IN BEING AND
MORE THAN 21 YEARS, AT THE EXPIRATION OF 60 YEARS.
Article - Real Property
2-116.
(d) Notwithstanding the repeal of the British Statute of Uses, executory
interests and powers of appointment are valid in the State, subject to the rule against
perpetuities AS MODIFIED BY §§ 11-102 AND 11-102.1 OF THE ESTATES AND
TRUSTS ARTICLE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2007.
Approved by the Governor, May 8, 2007.
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CHAPTER 382
(House Bill 196)
AN ACT concerning
Frederick County - Public Facilities Bonds
FOR the purpose of authorizing and empowering the County Commissioners of
Frederick County, from time to time, to borrow not more than $120,000,000 in
order to finance the cost of certain public facilities in Frederick County, as
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- 2364 -
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