                                 CODE OF VIRGINIA

EMPLOYEE TRUSTS (§ 55.1-131)

Pension, profit sharing, stock bonus, annuity, or other employee trusts
established by employers for the purpose of distributing the income and
principal of such trust 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 their
provisions to accomplish the purposes for which they are established.

HISTORY: 1950, p. 740, § 55-13.1; 2019, c. 712.