§ 633A.4105 — Filling vacancy

Iowa § 633A.4105

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 633A: IOWA TRUST CODE

Text

1. A trustee must be appointed to fill a vacancy in the office of the trustee only if the trust
has no trustee or the terms of the trust require a vacancy in the office of cotrustee to be filled.
2. A vacancy in the office of trustee shall be filled according to the following:
a. By the person named in or nominated pursuant to the method specified by the terms
of the trust.
b. Ifthetermsofthetrustdonotnameapersonorspecifyamethodforfillingthevacancy,
or if the person named or nominated pursuant to the method specified fails to accept, one of
the following methods shall be used:
(1) By majority vote of all qualified beneficiaries, who are adults, and the representative
of any minor or incompetent qualified beneficiary as provided in section 633A.6303.
23 IOWA TRUST CODE, §633A.4107
(2) By a person appointed by the court on petition of an interested person or of a person
named as trustee by the terms of the trust. The court, in selecting a trustee, shall consider
any nomination made by the adult beneficiaries and representatives of any minor and
incompetent beneficiaries as designated in section 633A.6303.