APPLICATION OF RULES AGAINST PERPETUITIES
AN ACT with reference to the application of rules against perpetuities to powers of appointment.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:
Section 1. That Chapter 117 of the Revised Code of Delaware (1915) be and the same is hereby amended by adding thereto a new section immediately following 3907 Sec. 64, to be known as 3907 (a) Section 64 (a) and to read as follows :
3907 (a) Sec. 64 (a). Powers of Appointment; Effect of Rules against Perpetuities on: Every estate or interest in property, real or personal, created through the exercise, by will, deed or other instrument, of a power of appointment, irrespective of whether such power is limited or unlimited as to appointees, irrespective of the manner in which such power was created or may be exercised, and irrespective of whether such power was created before or after the passage of this Act, shall for the purpose of any rule of law against perpetuities, remoteness in vesting, restraint upon the power of alienation or accumulations now in effect or hereafter enacted be deemed to have been created at the time of the exercise and not at the time of the creation of such power of appointment ; and no such estate or interest shall be void on account of any such rule unless such estate or interest would have been void had it been created at the date of the exercise of such power of appointment otherwise than through the exercise of a power of appointment.
Approved April 6, 1933.