58-1102: Same; income from trust property; accumulation.
The income arising from any personal property held in a trust created as
part of a stock bonus plan, pension plan, disability or death benefit plan,
or profit-sharing plan, or retirement plan, for the exclusive benefit of
employees, or self-employed persons, to which contributions are made by an
employer, or employees, or both, or by such self-employed persons, for the
purpose of distributing in accordance with such plan to such employees or
self-employed persons, the earnings or the principal, or both earnings and
principal of the trust fund, may be permitted to accumulate until the fund
shall be sufficient to accomplish the purposes of such plan.
History: L. 1959, ch. 240, § 2; June 30.