§ 636.47 — Deposit and joint control agreements

Iowa § 636.47

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 636: SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS

Text

It shall be lawful for any party of whom a bond, undertaking or other obligation is required,
to agree with the party’s surety or sureties for the deposit of any or all moneys and assets
for which the party and the party’s surety or sureties are or may be held responsible, with
a bank, savings bank, safe-deposit or trust company, authorized by law to do business as
such, or with other depository approved by the court if such deposit is otherwise proper, for
§636.47, SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS 12
the safekeeping thereof, and in such manner as to prevent the withdrawal of such money or
assets or any part thereof, without the written consent of such surety or sureties, or an order
of court made on such notice to such surety or sureties as such court may direct; provided,
however, that such agreement shall not in any manner release from or change the liability of
the principal or sureties as established by the terms of the said bond.

Legislative History

[C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.47]