§555-2  Trust not in violation of rule
against perpetuities.  Any employees trust may continue for such time as
may be necessary to accomplish the purposes for which it has been created and
its income may be accumulated for such time as may be necessary to accomplish
such purposes.  No employees trust shall be deemed to be subject to or in
violation of any principle of law against perpetuities under chapter 525 or at
common law, or restraints on alienation or perpetual accumulations or perpetual
trusts.



The enactment of this chapter shall not in
itself give rise to any implication that trusts of this nature have been
subject to or in violation of any principle of law against perpetuities under
chapter 525 or at common law, or restraints on alienation or perpetual
accumulations or perpetual trusts. [L 1953, c 170, §§2, 3; RL 1955, §341-2; HRS
§555-2; am L 1992, c 262, §4]