Spendthrift provisions

A spendthrift provision as described in § 35-16-102(7)(C) shall be deemed to be a restriction on the transfer of the transferor's beneficial interest in the trust that is enforceable under applicable nonbankruptcy law within the meaning of § 541(c)(2) of the Bankruptcy Code ( 11 U.S.C. § 541(c)(2) ), or any successor provision. Acts 2007, ch. 144, § 7. A spendthrift provision as described in § 35-16-102(7)(C) shall be deemed to be a restriction on the transfer of the transferor's beneficial interest in the trust that is enforceable under applicable nonbankruptcy law within the meaning of § 541(c)(2) of the Bankruptcy Code ( 11 U.S.C. § 541(c)(2) ), or any successor provision. Acts 2007, ch. 144, § 7.