72-33-203. Trust property. (1) A trust is created only if there is trust property.
     (2) The requirement of subsection (1) may be satisfied if the trust (or its trustee) is designated to be beneficiary of the proceeds of an insurance contract, an annuity contract, an employee benefit plan, an individual retirement account, or similar device, even though the designation may be revoked.

     History: En. Sec. 11, Ch. 685, L. 1989.