A trust instrument governed by the laws of this state may provide for a person to act as an investment trust director or a distribution trust director with regard to investment decisions or discretionary distributions, respectively. Unless otherwise provided by the terms of the governing instrument, a person may simultaneously serve as a trust director and a trust protector.
Iowa Code § 633A.4808
Investment trust director or distribution trust director provided for in trust instrument
Known as the Iowa Trust Code
The act spans §§ 633A.1101 to 633A.6308 (136 sections).
2020 Acts, ch 1076, §14
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.