Iowa § 637.604 Interested trustee’s authority to convert

Iowa Statutes

§ 637.604 — Interested trustee’s authority to convert

Iowa § 637.604

Title XVJUDICIAL BRANCH AND JUDICIAL PROCEDURES

Ch. 637UNIFORM PRINCIPAL AND INCOME ACT

This text of Iowa § 637.604 (Interested trustee’s authority to convert) 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 § 637.604 (2026).

Text

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.

2.Reconvert a total return unitrust to an income trust.

3.Change the method used to determine the fair market value of the trust.

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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.

2. Reconvert a total return unitrust to an income trust.
3. Change the method used to determine the fair market value of the trust.