West Virginia § 36-1-23 Exemption of certain employee trusts from rule against perpetuities or restraints on alienation

West Virginia Statutes

§ 36-1-23 — Exemption of certain employee trusts from rule against perpetuities or restraints on alienation

West Virginia·Ch. 36 ESTATES AND PROPERTY·Art. 1 CREATION OF ESTATES GENERALLY

Pension, profit sharing, stock bonus, annuity or other employee trusts heretofore or hereafter established by employers 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 or restraints on the power of alienation of title to property; but such trusts 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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Pension, profit sharing, stock bonus, annuity or other employee trusts heretofore or hereafter established by employers 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 or restraints on the power of alienation of title to property; but such trusts may continue for such period of time as may be required by the provisions thereof to accomplish the purposes for which they are established.

West Virginia § 36-1-23 (Exemption of certain employee trusts from rule against perpetuities or restraints on alienation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.