Nevada § 111.1037 - Exclusions from statutory rule against perpetuities

§ 111.1037. Exclusions from statutory rule against perpetuities

NRS 111.1031 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: (a) A premarital or postmarital agreement; (b) A separation or divorce settlement; (c) A spouse's election; (d) A similar arrangement arising out of a prospective, existing or previous marital

relationship between the parties; (e) A contract to make or not to revoke a will or trust; (f) A contract to exercise or not to exercise a power of appointment; (g) A transfer in satisfaction of a duty of support; or (h) A reciprocal transfer; 2. A fiduciary's power relating to the administration or management of assets, including

the power of a fiduciary to sell, lease or mortgage property, and the power of a fiduciary

to determine principal and income; 3. A power to appoint a fiduciary; 4. A discretionary power of a trustee to distribute principal before termination of

a trust to a beneficiary having an indefeasibly vested interest in the income and

principal; 5. A nonvested property interest held by a charity, government, or governmental agency

or subdivision, if the nonvested property interest is preceded by an interest held

by another charity, government, or governmental agency or subdivision; 6. A property interest in or a power of appointment with respect to a trust or other

property arrangement if such a trust or other property arrangement: (a) Was established for eleemosynary purposes; and (b) As set forth in the terms of such trust or other property arrangement, is to continue

for an indefinite or unlimited period; 7. A nonvested property interest in or a power of appointment with respect to a trust

or other property arrangement forming part of a pension, profit-sharing, stock bonus,

health, disability, death benefit, income deferral, or other current or deferred benefit

plan for one or more employees, independent contractors, or their beneficiaries or

spouses, to which contributions are made for the purpose of distributing to or for

the benefit of the participants or their beneficiaries or spouses the property, income

or principal in the trust or other property arrangement, except a nonvested property

interest or a power of appointment that is created by an election of a participant

or a beneficiary or spouse; or 8. A property interest, power of appointment or arrangement that was not subject to

the common-law rule against perpetuities or is expressly excluded by another statute

of this state.