Single beneficiaries — separate trust accounts
Known as the Iowa Uniform Custodial Trust Act
The act spans §§ 633–633 (21 sections).
2021 Acts, ch 8, §6
1. Beneficial interests in a custodial trust shall not be created for multiple beneficiaries.
2. All custodial trust property held under this chapter by the same custodial trustee for the use and benefit of a single beneficiary may be administered as a single custodial trust.
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.