Iowa § 523I.507 Investment of care funds by governmental subdivisions

Iowa Statutes

§ 523I.507 — Investment of care funds by governmental subdivisions

Iowa § 523I.507

Title XIIICOMMERCE

Ch. 523IIOWA CEMETERY ACT

This text of Iowa § 523I.507 (Investment of care funds by governmental subdivisions) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 523I.507 (2026).

Text

Notwithstanding section 12B.10, a perpetual care cemetery owned by a governmental
subdivision may invest and reinvest deposits pursuant to the requirements of this chapter.
The trustee shall use the judgment and care under the circumstances then prevailing that
persons of prudence, discretion, and intelligence exercise in the management of their own
affairs, not in regard to speculation but in regard to the permanent disposition of their
funds, considering the probable income as well as the probable safety of their capital. The
trustee of the trust funds has a fiduciary duty to make reasonable investment decisions and
to properly oversee and manage the funds entrusted to the trust fund.

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Notwithstanding section 12B.10, a perpetual care cemetery owned by a governmental
subdivision may invest and reinvest deposits pursuant to the requirements of this chapter.
The trustee shall use the judgment and care under the circumstances then prevailing that
persons of prudence, discretion, and intelligence exercise in the management of their own
affairs, not in regard to speculation but in regard to the permanent disposition of their
funds, considering the probable income as well as the probable safety of their capital. The
trustee of the trust funds has a fiduciary duty to make reasonable investment decisions and
to properly oversee and manage the funds entrusted to the trust fund.