House
Amendment
to
Senate
Amendment
to
House
File
609
S-5182
Amend
the
Senate
amendment,
H-8388,
to
House
File
1
609,
as
passed
by
the
House,
as
follows:
2
1.
Page
1,
after
line
4
by
inserting:
3
<
___.
Page
1,
after
line
4
by
inserting:
4
<
Sec.
___.
Section
557.7,
Code
2011,
is
amended
to
5
read
as
follows:
6
557.7
Contingent
remainders.
7
A
Except
as
provided
in
section
558.68A,
a
8
contingent
remainder
shall
take
effect,
notwithstanding
9
any
determination
of
the
particular
estate,
in
the
same
10
manner
in
which
it
would
have
taken
effect
if
it
had
11
been
an
executory
devise
or
a
springing
or
shifting
12
use,
and
shall,
as
well
as
such
limitations,
be
subject
13
to
the
rule
respecting
remoteness
known
as
the
rule
14
against
perpetuities
,
exclusive
of
any
other
supposed
15
rule
respecting
limitations
to
successive
generations
16
or
double
possibilities
.
17
Sec.
___.
NEW
SECTION
.
558.68A
Exception
to
rule
18
against
perpetuities.
19
1.
Notwithstanding
section
558.68,
a
rule
of
20
law
against
perpetuities,
a
suspension
of
the
power
21
of
alienation
of
the
title
to
property,
or
a
law
22
restricting
or
limiting
the
duration
of
trusts
shall
23
not
apply
with
respect
to
any
interest
in
real
or
24
personal
property
held
in
trust
if
the
instrument
25
creating
the
trust
specifically
states
that
such
rule
26
or
the
provisions
of
section
558.68
shall
not
apply
27
to
the
trust
and
if
either
the
trustee
of
the
trust
28
has
unlimited
power
to
sell
all
trust
assets
or
if
one
29
or
more
persons,
one
of
whom
may
be
the
trustee,
has
30
unlimited
power
to
terminate
the
entire
trust.
31
2.
A
trust
of
real
or
personal
property
created
32
by
an
employer
as
part
of
a
stock
bonus
plan,
pension
33
plan,
disability
or
death
benefit
plan,
or
profit
34
sharing
plan,
for
the
benefit
of
some
or
all
the
35
employer’s
employees,
to
which
contributions
are
made
36
by
the
employer
or
employees,
or
both,
for
the
purposes
37
of
distributing
to
the
employees
or
their
beneficiaries
38
the
earnings
or
the
principal,
or
both,
of
such
39
trust
is
not
invalid
as
violating
the
rule
against
40
perpetuities
or
any
other
law
restricting
or
limiting
41
the
duration
of
trusts;
but
the
trust
may
continue
for
42
the
time
that
is
necessary
to
accomplish
the
purposes
43
for
which
it
was
created.
44
3.
Subsection
1
shall
be
effective
for
interests
45
in
real
or
personal
property
in
trust
created
by
an
46
inter
vivos
or
testamentary
trust
or
will
executed
on
47
or
after
July
1,
2012,
or
pursuant
to
the
exercise
of
48
a
general
power
of
appointment
created
on
or
after
49
July
1,
2012.
For
the
purposes
of
this
subsection,
50
-1-
H8388.5699.H
(2)
84
md
1/
2
#1.
“general
power
of
appointment”
means
a
power
that
is
1
exercisable
in
favor
of
the
individual
possessing
the
2
power,
the
person’s
estate,
the
person’s
creditors,
or
3
the
creditors
of
the
person’s
estate.
>>
4
2.
Page
5,
line
36,
after
<
including
>
by
inserting
5
<
trusts
of
real
or
personal
property,
>
6
3.
By
renumbering
as
necessary.
7
-2-
H8388.5699.H
(2)
84
md
2/
2
#2.