Alabama § 19-3-65 Duration of Business Trust; Rules Against Perpetuities and Restraint of Alienation Not Violated

Alabama Statutes

§ 19-3-65 — Duration of Business Trust; Rules Against Perpetuities and Restraint of Alienation Not Violated

Alabama § 19-3-65

Title 19Fiduciaries and Trusts

Ch. 3Trusts

Art. 3Business Trusts

This text of Alabama § 19-3-65 (Duration of Business Trust; Rules Against Perpetuities and Restraint of Alienation Not Violated) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 19-3-65 (2026).

Text

A business trust shall not be deemed invalid as violating the rule against perpetuities or the law against suspension of the powers of alienation. Such trust may continue for such time as may be necessary to accomplish the purposes for which it may be created, provided the declaration of trust contains a provision that such trust may be terminated at any time by action of the trustees or by the vote of a specified percentage in interest of the beneficial owners thereof as set forth in the declaration of trust.

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A business trust shall not be deemed invalid as violating the rule against perpetuities or the law against suspension of the powers of alienation. Such trust may continue for such time as may be necessary to accomplish the purposes for which it may be created, provided the declaration of trust contains a provision that such trust may be terminated at any time by action of the trustees or by the vote of a specified percentage in interest of the beneficial owners thereof as set forth in the declaration of trust.