An accumulation of the income of property may be directed by any will, trust, or transfer in writing sufficient to pass the property or create the trust out of which the fund is to arise, for the benefit of one or more persons, objects, or purposes, to commence within the time in this Chapter permitted for the vesting of future interests and not to extend beyond the period limiting the time within which the absolute power of alienation of property may be suspended as prescribed by law.

SOURCE: CC § 724.