2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633A - IOWA TRUST CODE
633A.4102 - TRUSTEE'S BOND.

        633A.4102  TRUSTEE'S BOND.
         1.  A trustee is not required to give a bond to secure performance
      of the trustee's duties unless one of the following applies:
         a.  A bond is expressly required by the terms of the trust.
         b.  A bond is found by the court to be necessary to protect
      the interests of beneficiaries, regardless of the terms of the trust.

         2.  If a bond is required, it must be filed, and be in an amount
      and with sureties and liabilities as the court may order.  The court
      may excuse a requirement of a bond, reduce or increase the amount of
      a bond, release a surety, or permit the substitution of another bond
      with the same or different sureties.
         3.  The amount of a bond otherwise required may be reduced by the
      value of trust property deposited with a financial institution in a
      manner that prevents its unauthorized disposition, and by the value
      of real property which the trustee, by express limitation of power,
      lacks power to convey without court authorization.
         4.  Except as otherwise provided by the terms of the trust or
      ordered by the court, the cost of a bond is charged to the trust.
         5.  A bank or trust company shall not be required to give a bond,
      whether or not the terms of the trust require a bond.  

         99 Acts, ch 125, §37, 109
         C2001, §633.4102
         2005 Acts, ch 38, §54
         CS2005, §633A.4102
         Referred to in § 633A.6105