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29 chapters · 790 sections in this title.
Ark. Code Ann. § 18-3-101 Statutory rule against perpetuities
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(a) A nonvested property interest is invalid unless:(1) when the interest is created, it is certain to vest or terminate no later than 21 years after the death of an individual then alive; or(2) the interest either vests or terminates within 365 years after its creation. (1) when…
Ark. Code Ann. § 18-3-102 When nonvested property interest or power of appointment created
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(a) Except as provided in subsections (b) and (c) of this section and in § 18-3-105(a), the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law. (b) For purposes of this chapter, if there is a person w…
Ark. Code Ann. § 18-3-103 Reformation
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(1) Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the 365 years allowed by § 18-3-101(a)(2), § 18-3-101(b)(2), or § 18-3-101(c)(2) if:(1) a …
Ark. Code Ann. § 18-3-104 Exclusions from statutory rule against perpetuities
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Section 18-3-101 does not apply to: (1) a nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of (i) a premarital or postmarital agreement, (ii) a separation or div…