Mississippi § 71-1-41 - Employee trust plan.
Full text of Mississippi Mississippi Code of 1972 Annotated § 71-1-41 — Employee trust plan., with citation guidance and answers to common questions.
§ 71-1-41. Employee trust plan.
A trust of real or personal property, or real and personal property combined, created either heretofore or hereafter by an employer as part of a pension plan, disability or death benefit plan, or profit-sharing plan for the exclusive benefit of some or all of his or its employees, to which contributions are made by such employer or employees, or both, for the purpose of distributing to such employees the earnings and the principal of such trust, shall not be deemed to be invalid as violating any existing laws against perpetuities, restraints on alienation, suspension of the power of alienation, or the accumulation of income; but such a trust may continue for such time as may be necessary to accomplish the purpose for which it may be created. No trust of real or personal property, or real and personal property combined, created either heretofore or hereafter under a retirement plan for which provision has been made under the laws of the United States of America exempting such trust from federal income tax shall be deemed to be invalid as violating any existing laws against perpetuities, restraints on alienation, suspension of the power of alienation of title to property, or the accumulation of income; but such a trust may continue for such time as may be necessary to accomplish the purposes for which it may be created, may be permitted to accumulate the income arising from the property held therein until such time as such income shall become distributable to the beneficiary or beneficiaries under the terms of the trust, may according to its terms be made irrevocable, and the interests of its beneficiary or beneficiaries therein may be made nontransferable by assignment or otherwise.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 71-1-41
What does Mississippi Code of 1972 Annotated § 71-1-41 cover?
Section 71-1-41 ("Employee trust plan.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 71-1-41?
A common citation format is "Mississippi Code of 1972 Annotated § 71-1-41" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 71-1-41 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.