North Carolina Statutes
§ 32-75 — Employee trusts
Pension, profit sharing, stock bonus, annuity, or other employee trusts established for the purpose of distributing the income and principal thereof to some or all of their employees, or the beneficiaries of such employees, shall not be invalid as violating any laws or rules against perpetuities, restraints on the power of alienation of title to property, or the accumulation of income; but such trusts may continue for such period of time as may be required by the provisions thereof to accomplish the purpose for which they were established. (1954, c. 8; 1977, c. 502, s. 2; 2005-192, s. 1.)
Free access — add to your briefcase to read the full text and ask questions with AI
North Carolina § 32-75 (Employee trusts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 32-1
Short title§ 32-13
Uniformity of interpretation§ 32-2
Definition of terms§ 32-25
Definition§ 32-26
Incorporation by reference of powers enumerated in § 32-27; restriction on exercise of such powers§ 32-53
Definitions§ 32-54
Compensation of trustees§ 32-55
Notice