2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633A - IOWA TRUST CODE
633A.6308 - NONJUDICIAL SETTLEMENT AGREEMENTS.

        633A.6308  NONJUDICIAL SETTLEMENT AGREEMENTS.
         1.  For purposes of this part, "interested persons" means
      persons whose consent would be required in order to achieve a binding
      settlement were the settlement to be approved by the court.
         2.  Except as otherwise provided in subsection 3, or as to a
      modification or termination of a trust under section 633A.2203,
      interested persons may enter into a binding nonjudicial settlement
      agreement with respect to any matter involving a trust.
         3.  A nonjudicial settlement is valid only to the extent the
      settlement does not violate a material purpose of the trust and
      includes terms and conditions that could be properly approved by the
      court under this trust code or other applicable law.
         4.  Matters that may be resolved by a nonjudicial settlement
      agreement include any of the following:
         a.  The interpretation or construction of the terms of the
      trust.
         b.  The approval of a trustee's report or accounting.
         c.  Direction to a trustee to refrain from performing a
      particular act or the grant to a trustee of any necessary or
      desirable power.
         d.  The resignation or appointment of a trustee and the
      determination of a trustee's compensation.
         e.  The transfer of a trust's principal place of
      administration.
         f.  The liability of a trustee for an action relating to the
      trust.
         5.  Any interested person may request the court to approve a
      nonjudicial settlement agreement, to determine whether the
      representation provided was adequate, and to determine whether the
      agreement contains terms and conditions the court could have properly
      approved.  

         2003 Acts, ch 95, §22
         CS2003, §633.6308
         2005 Acts, ch 38, §54, 55
         CS2005, §633A.6308