State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_32 > GS_32-75

§ 32‑75.  Employeetrusts.

Pension, profit sharing, stockbonus, annuity, or other employee trusts established for the purpose ofdistributing the income and principal thereof to some or all of theiremployees, or the beneficiaries of such employees, shall not be invalid asviolating any laws or rules against perpetuities, restraints on the power ofalienation of title to property, or the accumulation of income; but such trustsmay continue for such period of time as may be required by the provisions thereofto accomplish the purpose for which they were established. (1954, c. 8; 1977, c. 502, s.2; 2005‑192, s. 1.)