A grantor may not establish more than one preservation trust. However, in the event a preservation trust established by a grantor is wholly revoked or terminated, the grantor may establish a new preservation trust, and this act shall be applicable to such new preservation trust.
Added by Laws 2004, c. 509, § 9, emerg. eff. June 9, 2004. Amended by Laws 2005, c. 438, § 8, emerg. eff. June 8, 2005.