Iowa Code 633A.4401 – General powers — fiduciary duties
Current as of: 2023 | Check for updates
|
Other versions
1. A trustee, without authorization by the court, may exercise the following powers:
a. The powers conferred by the terms of the trust.
b. Except as limited by the terms of the trust, powers conferred by this trust code.
Terms Used In Iowa Code 633A.4401
- Fiduciary: A trustee, executor, or administrator.
- 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. This part does not affect the power of the court to relieve a trustee from restrictions in the terms of the trust on the exercise of powers, to confer on a trustee additional powers whether or not authorized by the terms of the trust, or to restrict the exercise of a power otherwise given to the trustee by the terms of the trust or this trust code.
3. The grant of a power to a trustee, whether by the terms of the trust, this trust code, or the court, does not in itself govern the exercise of the power. In exercising a power, the trustee shall act in accordance with fiduciary principles.