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§ 6106. Income accumulations; when valid

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: July 7, 2006

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 20 Pa.C.S.A. Decedents, Estates and Fiduciaries (Refs & Annos)
Chapter 61. Estates (Refs & Annos)
Effective: July 7, 2006
20 Pa.C.S.A. § 6106
§ 6106. Income accumulations; when valid
Currentness
(a) General.--Except as set forth in section 6107.1 (relating to applicability of rule against perpetuities), no direction or authorization to accumulated income shall be void, except as herein provided.
(b) Void accumulations; exceptions.--Except as set forth in section 6107.1, upon the expiration of the period allowed by the common law rule against perpetuities as measured by actual rather than possible events, any direction or authorization to accumulate income shall be void. This subsection shall not apply to:
(1) Directions or authorizations to accumulate income in a trust for any charitable purpose or purposes.
(2) Directions or authorizations to accumulate income in a bona fide trust inter vivos primarily for the benefit of business employees, their families or appointees, under a stock bonus, pension, disability or death benefit, profit-sharing or other employee-benefit plan.
(c) Time for beginning period.--Except as set forth in section 6107.1, the period allowed by the common law rule against perpetuities under subsection (b) of this section shall be measured from the expiration of any time during which one person while living has the unrestricted power to transfer to himself the entire legal and beneficial interest in the property.

Credits

1972, June 30, P.L. 508, No. 164, § 2, eff. July 1, 1972. Amended 2006, July 7, P.L. 625, No. 98, § 3, imd. effective.
20 Pa.C.S.A. § 6106, PA ST 20 Pa.C.S.A. § 6106
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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