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2007 Laws of Maryland
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Ch. 381
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BY repealing and reenacting, with amendments,
Article - Real Property
Section 2-116(d)
Annotated Code of Maryland
(2003 Replacement Volume and 2006 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Estates and Trusts
11-102.
(A) IN THIS SECTION, "USUFRUCTUARY" MEANS A PERSON HAVING A
USUFRUCT OR RIGHT TO ENJOY A THING IN WHICH THE PERSON HAS NO
PROPERTY INTEREST.
(B) Subject to §§ 4-409 and 11-103, the common-law rule against
perpetuities as now recognized in the State is preserved, but the rule does not apply to
the following:
(a) (1) A legacy or inter vivos conveyance having a value of $5,000 or less,
or of any burial lot of any value, in trust or otherwise, for the purpose of providing for
the perpetual care or keeping in good order and condition, or making repairs to, any
lot, vault, mausoleum, or other place of sepulture belonging to any individual or
several individuals in any cemetery or graveyard, the lots in which are intended for
the burial of members of the family, family connections, relatives, or friends of the
owners, or their successors in ownership.;
(b) (2) A legacy or inter vivos conveyance intended to transfer assets from
any corporation incorporated for charitable objects, to any other charitable corporation
on a contingency or future event.;
(c) (3) A trust created by an employer as part of a pension, stock bonus,
disability, death benefit, profit-sharing, retirement, welfare, or other plan for the
exclusive benefit of some or all of the employees of the employer or their beneficiaries,
to which contributions are made by the employer or employees, or both the employer
and employees, for the purpose of making distributions to or for the benefit of
employees or their beneficiaries out of the income or principal or both the income and
principal of the trust, or for any other purposes set out in the plan.;
(d) (4) A trust for charitable purposes, which shall include all purposes as
are within the spirit or letter of the statute of 43 Elizabeth Ch. 4 (1601), commonly
known as the statute of charitable uses.;
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