Cal. Prob. Code § 15414

Current through the 2024 Legislative Session.

Section 15414 - Termination of trust continued after expiration of period provided by statutory rule against perpetuities

Notwithstanding any other provision in this chapter, if a trust continues in existence after the expiration of the longer of the periods provided by the statutory rule against perpetuities, Article 2 (commencing with Section 21205) of Chapter 1 of Part 2 of Division 11, the trust may be terminated in either of the following manners:

(a) On petition by a majority of the beneficiaries.

(b) On petition by the Attorney General or by any person who would be affected by the termination, if the court finds that the termination would be in the public interest or in the best interest of a majority of the persons who would be affected by the termination.

Ca. Prob. Code § 15414

Added by Stats. 1991, Ch. 156, Sec. 23.