633A.4105 Filling vacancy.
1. A trustee must be appointed to fill a vacancy in the office of the trustee only if the trust has no trustee or the terms of the trust require a vacancy in the office of cotrustee to be filled.
2. A vacancy in the office of trustee shall be filled according to the following:
a. By the person named in or nominated pursuant to the method specified by the terms of the trust.
b. If the terms of the trust do not name a person or specify a method for filling the vacancy, or if the person named or nominated pursuant to the method specified fails to accept, one of the following methods shall be used:
(1) By majority vote of all qualified beneficiaries, who are adults, and the representative of any minor or incompetent qualified beneficiary as provided in section 633A.6303.
(2) By a person appointed by the court on petition of an interested person or of a person named as trustee by the terms of the trust. The court, in selecting a trustee, shall consider any nomination made by the adult beneficiaries and representatives of any minor and incompetent beneficiaries as designated in section 633A.6303.
99 Acts, ch 125, §40, 109; 2000 Acts, ch 1150, §22
C2001, §633.4105
2002 Acts, ch 1107, §6, 7; 2003 Acts, ch 44, §103; 2003 Acts, ch 95, §12; 2005 Acts, ch 38, §54, 55
CS2005, §633A.4105
Structure Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 633A - IOWA TRUST CODE
Section 633A.1101 - Short title.
Section 633A.1102 - Definitions.
Section 633A.1103 - Per stirpes rule of descent.
Section 633A.1104 - Common law of trusts.
Section 633A.1105 - Trust terms control.
Section 633A.1106 - General rule concerning application of the Iowa trust code.
Section 633A.1107 - Scope of trust code.
Section 633A.1108 - Governing law.
Section 633A.1109 - Methods of notice and document delivery — waiver.
Section 633A.2101 - Methods of creating trusts.
Section 633A.2102 - Requirements for validity.
Section 633A.2103 - Statute of frauds.
Section 633A.2104 - Trust purposes.
Section 633A.2105 - Honorary trusts — trusts for pets.
Section 633A.2106 - Resulting trusts.
Section 633A.2107 - Constructive trusts.
Section 633A.2201 - Termination of trust.
Section 633A.2202 - Modification or termination by settlor and all beneficiaries.
Section 633A.2204 - Modification of administrative provisions by court for change of circumstances.
Section 633A.2205 - Noncharitable trust with uneconomically low value.
Section 633A.2206 - Reformation — tax objectives.
Section 633A.2207 - Combination of trusts.
Section 633A.2208 - Division of trusts.
Section 633A.2301 - Rights of beneficiary, creditor, and assignee.
Section 633A.2302 - Spendthrift protection recognized.
Section 633A.2303 - Spendthrift trusts for the benefit of settlor.
Section 633A.2304 - Amount reachable by creditors or transferees of settlor.
Section 633A.2305 - Discretionary trusts — effect of standard.
Section 633A.2306 - Court action — trustee’s discretion.
Section 633A.2307 - Overdue mandatory distribution.
Section 633A.3101 - Competency to create, revoke, or modify a revocable trust.
Section 633A.3102 - Revocation or modification.
Section 633A.3103 - Other rights of settlor.
Section 633A.3104 - Claims against revocable trust.
Section 633A.3105 - Rights of and claims against holder of general power of appointment.
Section 633A.3106 - Children born or adopted after execution of a revocable trust.
Section 633A.3107 - Effect of divorce or dissolution.
Section 633A.3108 - Limitation on contest of revocable trust.
Section 633A.3110 - Notice to creditors, heirs, and surviving spouse.
Section 633A.3111 - Rights of trustee regarding claims in a probate administration.
Section 633A.3112 - Trustee’s liability for distributions.
Section 633A.3113 - Definitions — revocable trusts.
Section 633A.3114 - Allowance to surviving spouse.
Section 633A.3115 - Allowance to children who do not reside with surviving spouse.
Section 633A.4101 - Acceptance or declination to serve as trustee.
Section 633A.4102 - Trustee’s bond.
Section 633A.4103 - Actions by cotrustees.
Section 633A.4104 - Vacancy in office of trustee.
Section 633A.4105 - Filling vacancy.
Section 633A.4106 - Resignation of trustee.
Section 633A.4107 - Removal of trustee.
Section 633A.4108 - Delivery of property by former trustee.
Section 633A.4109 - Compensation of trustee.
Section 633A.4110 - Repayment for expenditures.
Section 633A.4111 - Notice of increased trustee’s fee.
Section 633A.4201 - Duty to administer trust — alteration by terms of trust.
Section 633A.4202 - Duty of loyalty — impartiality — confidential relationship.
Section 633A.4203 - Standard of prudence.
Section 633A.4204 - Costs of administration.
Section 633A.4205 - Special skills.
Section 633A.4206 - Delegation.
Section 633A.4207 - Directory powers.
Section 633A.4208 - Cotrustees.
Section 633A.4209 - Control and safeguarding of trust property.
Section 633A.4210 - Separation and identification of trust property.
Section 633A.4211 - Enforcement and defense of claims and actions.
Section 633A.4212 - Prior fiduciaries.
Section 633A.4213 - Duty to inform and account.
Section 633A.4214 - Duties with regard to discretionary powers.
Section 633A.4215 - Distributions in further trust.
Section 633A.4301 - Short title.
Section 633A.4302 - Standard of care — portfolio strategy — risk and return objectives.
Section 633A.4303 - Diversification.
Section 633A.4304 - Duties at inception of trusteeship.
Section 633A.4306 - Impartiality.
Section 633A.4307 - Investment costs.
Section 633A.4308 - Reviewing compliance.
Section 633A.4309 - Language invoking prudent investor rule.
Section 633A.4401 - General powers — fiduciary duties.
Section 633A.4402 - Specific powers of trustees.
Section 633A.4501 - Violations of duties — breach of trust.
Section 633A.4502 - Breach of trust — actions.
Section 633A.4503 - Breach of trust — liability.
Section 633A.4504 - Limitation of action against trustee.
Section 633A.4505 - Exculpation of trustee.
Section 633A.4506 - Beneficiary’s consent, release, or affirmance — nonliability of trustee.
Section 633A.4507 - Attorney fees and costs.
Section 633A.4601 - Personal liability — limitations.
Section 633A.4602 - Dissenting cotrustees.
Section 633A.4603 - Obligations of third parties.
Section 633A.4604 - Certification of trust.
Section 633A.4605 - Liability for wrongful taking, concealing, or disposing of trust property.
Section 633A.4606 - Interest as general partner.
Section 633A.4702 - Discretionary language prevails over other standard.
Section 633A.4703 - General order for abatement.
Section 633A.4704 - Simultaneous death.
Section 633A.4705 - Principal and income.
Section 633A.4706 - Small distributions to minors — payment.
Section 633A.4707 - Person causing death.
Section 633A.4802 - Liability limits of excluded fiduciary.
Section 633A.4803 - Death of settlor.
Section 633A.4804 - Excluded fiduciary’s liability for loss if trust protector appointed.
Section 633A.4805 - Powers of trust protector.
Section 633A.4806 - Submission to court jurisdiction — effect on trust director or trust protector.
Section 633A.4807 - Powers of trust protector incorporated by reference in will or trust instrument.
Section 633A.4809 - Powers of investment trust director.
Section 633A.4810 - Powers of distribution trust director.
Section 633A.5101 - Charitable purposes.
Section 633A.5102 - Application of cy pres.
Section 633A.5103 - Trust with uneconomically low value.
Section 633A.5104 - Interested persons — proceedings.
Section 633A.5105 - Charitable trusts.
Section 633A.5106 - Settlor — enforcement of charitable trust — designation.
Section 633A.5107 - Filing requirements.
Section 633A.5108 - Role of the attorney general.
Section 633A.6101 - Subject matter jurisdiction.
Section 633A.6102 - Principal place of administration of trust.
Section 633A.6103 - Jurisdiction over trustees and beneficiaries.
Section 633A.6104 - County of venue.
Section 633A.6105 - Transfer of jurisdiction.
Section 633A.6201 - Judicial intervention intermittent.
Section 633A.6202 - Petitions — purposes of proceedings.
Section 633A.6301 - Definition and applicability.
Section 633A.6302 - Representation by holders of powers.
Section 633A.6303 - Representation by fiduciaries and parents.
Section 633A.6304 - Representation by holders of similar interests.
Section 633A.6305 - Notice of judicial settlement.
Section 633A.6306 - Appointment of guardian ad litem.