Iowa Code § 637.604
Interested trustee’s authority to convert
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
If there is no trustee of the trust other than an interested trustee, the interested trustee or, where two or more persons are acting as trustee and are interested trustees, a majority of such interested trustees may, in the trustee’s sole discretion and without the approval of the court, do any of the following subject to the requirements of section 637.605:
If there is no trustee of the trust other than an interested trustee, the interested trustee or, where two or more persons are acting as trustee and are interested trustees, a majority of such interested trustees may, in the trustee’s sole discretion and without the approval of the court, do any of the following subject to the requirements of section 637.605:
1. Convert an income trust to a total return unitrust.
1. Convert an income trust to a total return unitrust.
2. Reconvert a total return unitrust to an income trust.
2. Reconvert a total return unitrust to an income trust.
3. Change the method used to determine the fair market value of the trust.
3. Change the method used to determine the fair market value of the trust.
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.