58-1102. Same; income from trust property; accumulation. - Kansas Statutes

58-1102

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 11.--TRUSTS OF PERSONAL PROPERTY

      58-1102.   Same; income from trust property; accumulation.The income arising from any personal property held in a trust created aspart of a stock bonus plan, pension plan, disability or death benefit plan,or profit-sharing plan, or retirement plan, for the exclusive benefit ofemployees, or self-employed persons, to which contributions are made by anemployer, or employees, or both, or by such self-employed persons, for thepurpose of distributing in accordance with such plan to such employees orself-employed persons, the earnings or the principal, or both earnings andprincipal of the trust fund, may be permitted to accumulate until the fundshall be sufficient to accomplish the purposes of such plan.

      History:   L. 1959, ch. 240, § 2; June 30.