N.Y. EPT Law § 9-1.7
This is the official text of N.Y. EPT Law § 9-1.7, part of New York’s EPT Law — part of the compiled statutory law of New York, published by the state as "EPT Law." Browse the sections below, each linked to its official government source.
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Trust for self-employed individuals and others
Official statutory text
§ 9-1.7 Trust for self-employed individuals and others\n No trust created under a retirement plan, which is exempt from federal\nincome taxation under the laws of the United States, is invalid as\nviolating the rule against perpetuities or the rules governing the\naccumulation of income. Such a trust may continue for such time as may\nbe necessary to accomplish the purposes for which it is created; may\npermit the accumulation of income until such time as the income is\ndistributed to the beneficiaries under the terms of the trust; and may,\naccording to its terms, be made irrevocable and the interest of its\nbeneficiaries nontransferable by assignment or otherwise. A trust so\nmade irrevocable is not subject to revocation upon the written consent\nof its beneficiaries as provided in 7-1.9.\n
Status: in_force · Read it on the official government site
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