§ 10-8.1 Rule against perpetuities; time at which permissible period

begins

(a) Where an estate is created by an instrument exercising a power of
appointment, the permissible period of the rule against perpetuities
begins:

(1) In the case of an instrument exercising a general power which is
presently exercisable, on the effective date of the instrument of
exercise.

(2) In all other cases, at the time of the creation of the power.

(b) Where the creator of a trust reserves to himself an unqualified
power to revoke, the permissible period of the rule against perpetuities
begins when the power to revoke terminates by reason of the death of the
creator, by a release of such power or otherwise.