55-13.1 - Employee trusts. - Virginia Statutes

§ 55-13.1. Employee trusts.

Pension, profit sharing, stock bonus, annuity or other employee trustsheretofore or hereafter established by employers for the purpose ofdistributing the income and principal thereof to some or all of theiremployees, or the beneficiaries of such employees, shall not be invalid asviolating any laws or rules against perpetuities or restraints on the powerof alienation of title to property; but such trusts may continue for suchperiod of time as may be required by the provisions thereof to accomplish thepurposes for which they are established.

(1950, p. 740.)