§ 28-17-2 - Accumulation of income – Perpetuities – Suspension of power of alienation. - Rhode Island Statutes

SECTION 28-17-2

   § 28-17-2  Accumulation of income –Perpetuities – Suspension of power of alienation. – The income arising from any personal property held in any employees' trust asdefined in § 28-17-1 may be permitted to accumulate in accordance with theterms of the trust and the plan to which the trust forms a part for any timethat may be necessary to accomplish the purposes for which the trust has beencreated. An employees' trust shall not be deemed to be invalid as violating therule against perpetuities or any law or rule against perpetuities or thesuspension of the power of alienation of title to property, but may continuefor any time that may be necessary to accomplish the purposes for which it hasbeen created.