Iowa Code 633A.4208 – Cotrustees
Current as of: 2023 | Check for updates
|
Other versions
1. If a trust has more than one trustee, each trustee shall perform all of the following duties:
a. Participate in the administration of the trust.
b. Take reasonable steps to prevent a cotrustee from committing a breach of trust, and to compel a cotrustee to redress a breach of trust.
Terms Used In Iowa Code 633A.4208
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
2. A trustee who complies with subsection 1 is not liable to the beneficiaries or to the trust for the decisions or actions of a cotrustee.