Common use of Qualification Under Internal Revenue Laws Clause in Contracts

Qualification Under Internal Revenue Laws. The Employer intends that the Trust qualify under the applicable provisions of the Code. Until advised to the contrary, the Trustee may assume that the Trust is so qualified and is entitled to tax exemption under the Code. If the Plan of the Employer fails to attain or retain qualification, the Plan of the Employer shall no longer participate in this prototype and shall be considered an individually designed plan. MODEL SECTION 401(a)(31) AMENDMENT TO THE CAPSTONE PHARMACY SERVICES, INC. 401(K) PROFIT SHARING PLAN AND TRUST Section 1. This Article applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the plan to the contrary that would otherwise limit a distributee's election under this Article, a distributee may elect, at the time and in the manner prescribed by the plan administrator, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover.

Qualification Under Internal Revenue Laws. The Employer intends that the Trust qualify under the applicable provisions of the Code. Until advised to the contrary, the Trustee may assume that the Trust is so qualified and is entitled to tax exemption under the Code. If the Plan of the Employer fails to attain or retain qualification, the Plan of the Employer shall no longer participate in this prototype and shall be considered an individually designed plan. 89 122 MODEL SECTION 401(a)(31) AMENDMENT TO THE CAPSTONE PHARMACY SERVICES, INC. 401(KJMI'S EMPLOYEE RETIREMENT 401(k) PROFIT SHARING PLAN AND TRUSTPLAN Section 1. This Article applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the plan to the contrary that would otherwise limit a distributee's election under this Article, a distributee may elect, at the time and in the manner prescribed by the plan administrator, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover.