To exempt personal property held in certain trusts from the law against "perpetuities.” "Perpetuities" is a legal doctrine intended to prevent assets from being tied-up in long-term family or "dynasty" trusts. However, the law has the effect of causing trusts to be set up in other states.
38 Yeas / 0 Nays | |
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Democrat (17 Yeas / 0 Nays) | |
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