South Carolina Statutes
§ 27-5-80 — Certain pension plans, annuity trusts, and the like of employers exempt from laws against perpetuities.
South Carolina·Title 27 PROPERTY AND CONVEYANCES·Ch. 5 ESTATES AND CONSTRUCTION OF DOCUMENTS CREATING ESTATES
Pension, profit sharing, stock bonus and annuity trusts, or combinations thereof, established by employers for the purpose of distributing both the principal and income thereof exclusively to eligible employees, or the beneficiaries of such employees, shall not be invalid as violating any laws or rules against perpetuities or restraints on the power of alienation of title to property; but such trust may continue for such period of time as may be required by the provisions thereof to accomplish the purposes for which they are established.
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South Carolina § 27-5-80 (Certain pension plans, annuity trusts, and the like of employers exempt from laws against perpetuities.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 57-7.1; 1960 (51) 1630.
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