2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633A - IOWA TRUST CODE
633A.4504 - LIMITATION OF ACTION AGAINST TRUSTEE.

        633A.4504  LIMITATION OF ACTION AGAINST TRUSTEE.
         1.  Unless previously barred by adjudication, consent, or other
      limitation, a claim against a trustee for breach of trust is barred
      as to a beneficiary who has received a final account or other report
      adequately disclosing the existence of the claim, unless a proceeding
      to assert the claim is commenced within one year after the earlier of
      the receipt of the accounting or report of the termination of the
      trust relationship between the trustee and beneficiary.  An account
      or report adequately discloses the existence of a claim if it
      provides sufficient information so that the beneficiary knows of the
      claim or reasonably should have inquired into its existence.
         2.  For the purpose of subsection 1, a beneficiary is deemed to
      have received an account or report in the following instances:
         a.  In the case of an adult who is reasonably capable of
      understanding the account or report, if it is received by the adult
      personally.
         b.  In the case of an adult who is not reasonably capable of
      understanding the account or report, if it is received by the adult's
      legal representative, including a guardian ad litem or other person
      appointed for this purpose.
         c.  In the case of a minor, if it is received by the minor's
      guardian or conservator or, if the minor does not have a guardian or
      conservator, if it is received by a parent of the minor who does not
      have a conflict of interest.
         3.  Any claim for breach of trust against a trustee who has
      presented a final report to a beneficiary more than one year prior to
      July 1, 2000, shall be time barred unless some exception stated in
      this section applies which tolls the statute.  Any claim arising
      under this section within one year of July 1, 2000, shall be time
      barred after one year unless an exception applies to toll the
      statute.  

         99 Acts, ch 125, §76, 109; 2000 Acts, ch 1150, §25
         C2001, §633.4504
         2005 Acts, ch 38, §54
         CS2005, §633A.4504
         Referred to in § 633A.4213, 633A.5108