Iowa Code 633A.4706 – Small distributions to minors — payment
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Terms Used In Iowa Code 633A.4706
- Trustee: A person or institution holding and administering property in trust.
633A.4706 Small distributions to minors — payment.
When a minor becomes entitled under the terms of the trust to a beneficial interest in the
trust upon the distribution of the trust fund and the value of the interest does not exceed the sum of twenty-five thousand dollars, the trustee may pay the interest to a custodian under any uniform transfers to minors Act. Receipt by the custodian shall have the same force and effect as though payment had been made to a duly appointed and qualified conservator for the minor.
2005 Acts, ch 38, §47
Uniform transfers to minors, see chapter 565B
When a minor becomes entitled under the terms of the trust to a beneficial interest in the
trust upon the distribution of the trust fund and the value of the interest does not exceed the sum of twenty-five thousand dollars, the trustee may pay the interest to a custodian under any uniform transfers to minors Act. Receipt by the custodian shall have the same force and effect as though payment had been made to a duly appointed and qualified conservator for the minor.
2005 Acts, ch 38, §47
Uniform transfers to minors, see chapter 565B