75B-1-203. Income permitted to accumulate.
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Effective 9/1/2024
75B-1-203. Income permitted to accumulate.
The income arising from or earned by the property held in a retirement trust is permitted to accumulate, in accordance with the terms of the trust:
(1)for the time period permitted by the instrument creating the trust; or
(2)if the instrument creating the trust does not specify a time period, for the time period that is necessary for a trustee of the trust to accomplish the purposes for which the trust was created.
Renumbered and Amended by Chapter 364 , 2024 General Session