§ 4-28-516 - Transition concerning real and personal property. - Arkansas Statutes

4-28-516. Transition concerning real and personal property.

If, before August 1, 1997, an estate or interest in real or personal property was by terms of the transfer purportedly transferred to a nonprofit association but under the law the estate or interest did not vest in the nonprofit association, on August 1, 1997 the estate or interest vests in the nonprofit association, unless the parties have treated the transfer as ineffective.