N.C. Gen. Stat. §41-23, which repealed the common law Rule Against Perpetuities as well as the Uniform Statutory Rule Against Perpetuities (N.C. Gen. Stat. §41-15) as they apply to trusts created or administered in North Carolina is constitutional.
The prohibition against “perpetuities and monopolies” found at Article I, Section 34 of the North Carolina Constitution applies only to unreasonable restraints on the alienation of property and not to the vesting of remote interests.
Plaintiff’s Brief in Support of Motion for Summary Judgment
Defendant’s Brief in Opposition to Motion for Summary Judgment
Plaintiff’s Reply Brief in Support of Motion for Summary Judgment