2007 California Probate Code Article 5. Exclusions From Statutory Rule Against Perpetuities .. 21225

CA Codes (prob:21225)

21225.  Article 2 (commencing with Section 21205) does not apply to
any of the following:
   (a) A nonvested property interest or a power of appointment
arising out of a nondonative transfer, except a nonvested property
interest or a power of appointment arising out of (1) a premarital or
postmarital agreement, (2) a separation or divorce settlement, (3) a
spouse's election, (4) or a similar arrangement arising out of a
prospective, existing, or previous marital relationship between the
parties, (5) a contract to make or not to revoke a will or trust, (6)
a contract to exercise or not to exercise a power of appointment,
(7) a transfer in satisfaction of a duty of support, or (8) a
reciprocal transfer.
   (b) A fiduciary's power relating to the administration or
management of assets, including the power of a fiduciary to sell,
lease, or mortgage property, and the power of a fiduciary to
determine principal and income.
   (c) A power to appoint a fiduciary.
   (d) A discretionary power of a trustee to distribute principal
before termination of a trust to a beneficiary having an indefeasibly
vested interest in the income and principal.
   (e) A nonvested property interest held by a charity, government,
or governmental agency or subdivision, if the nonvested property
interest is preceded by an interest held by another charity,
government, or governmental agency or subdivision.
   (f) A nonvested property interest in or a power of appointment
with respect to a trust or other property arrangement forming part of
a pension, profit-sharing, stock bonus, health, disability, death
benefit, income deferral, or other current or deferred benefit plan
for one or more employees, independent contractors, or their
beneficiaries or spouses, to which contributions are made for the
purpose of distributing to or for the benefit of the participants or
their beneficiaries or spouses the property, income, or principal in
the trust or other property arrangement, except a nonvested property
interest or a power of appointment that is created by an election of
a participant or a beneficiary or spouse.
   (g) A property interest, power of appointment, or arrangement that
was not subject to the common law rule against perpetuities or is
excluded by another statute of this state.
   (h) A trust created for the purpose of providing for its
beneficiaries under hospital service contracts, group life insurance,
group disability insurance, group annuities, or any combination of
such insurance, as defined in the Insurance Code.