§ 154-237. Exclusive benefit of participants.

No part of the trust fund shall, by reason of any amendment, be used for, or diverted to, purposes other than for the exclusive benefit of participants and beneficiaries or for expenses authorized hereunder; nor shall any amendment reduce any then vested interest or accrued benefit of a participant or beneficiary, except that any amendment that is necessary to bring the plan and trust into conformity with governmental regulations may be made retroactively to qualify it for tax exemption even though such amendment may reduce or divest interests that would be vested except for this section.

(91-RC-669, § 9.2, 12-18-91)