Iowa Code § 637.602

Current through March 29, 2024

Section 637.602 - Trustee's authority to convert

A trustee, other than an interested trustee, or, where two or more persons are acting as trustee, a majority of the trustees who are not 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 637.603:

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.

Iowa Code § 637.602

2002 Acts, ch 1086, §6, 21

Referred to in §637.603, 637.606, 637.613