2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633A - IOWA TRUST CODE
633A.4106 - RESIGNATION OF TRUSTEE.

        633A.4106  RESIGNATION OF TRUSTEE.
         1.  A trustee who has accepted a trust may resign by any of the
      following methods:
         a.  As provided by the terms of the trust.
         b.  With the consent of the person holding the power to revoke
      the trust if the holder is competent or is represented by a guardian,
      conservator, or agent.
         c.  With the consent of the qualified beneficiaries who are
      adults if the trust is irrevocable or the holder of the power to
      revoke lacks competency or is not represented by a guardian,
      conservator, or agent.
         d.  Upon written notice to the holder of the power to revoke
      if the holder substantially changes the trustee's duties and the
      trustee does not concur.
         e.  By filing a petition to resign under section 633A.6202.
      The resignation takes effect ninety days after the filing, or upon
      approval of the petition by the court, whichever first occurs.  The
      court must accept the trustee's resignation but may impose such
      orders and conditions as are reasonably necessary for the protection
      of the trust property, including the appointment of a receiver or
      temporary trustee.
         2.  The liability for acts or omissions of a resigning trustee or
      of any sureties on the trustee's bond is not released or affected by
      the trustee's resignation.  
         Section History: Recent Form
         99 Acts, ch 125, §41, 109
         C2001, §633.4106
         2002 Acts, ch 1107, §8; 2005 Acts, ch 38, §54, 55
         CS2005, §633A.4106

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