Illinois Compiled Statutes 760 ILCS 40/2a – No rule of law against perpetuities or suspension of the power of …
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Terms Used In Illinois Compiled Statutes 760 ILCS 40/2a
- Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
No rule of law against perpetuities or suspension of the power of alienation of the title to property shall operate to invalidate any trust of the sort described in Section 1 of this Act heretofore created or attempted to be created unless the trust is terminated by the circuit court in a suit instituted within 3 years after the effective date of this amendatory act of 1957.