Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 637 - UNIFORM PRINCIPAL AND INCOME ACT

Section 637.101 - Short title. - 637.101 Short title. This Act may be cited as the...

Section 637.102 - Definitions. - 637.102 Definitions. As used in this chapter: 1. “Accounting period”...

Section 637.103 - Fiduciary duties — general principles. - 637.103 Fiduciary duties — general principles. 1. In allocating receipts...

Section 637.201 - Determination and distribution of net income. - 637.201 Determination and distribution of net income. After a decedent...

Section 637.202 - Distribution to residuary and remainder beneficiaries. - 637.202 Distribution to residuary and remainder beneficiaries. 1. Each beneficiary...

Section 637.301 - When right to income begins and ends. - 637.301 When right to income begins and ends. 1. An...

Section 637.302 - Apportionment of receipts and disbursements when decedent dies or income interest begins. - 637.302 Apportionment of receipts and disbursements when decedent dies or...

Section 637.303 - Apportionment when income interest ends. - 637.303 Apportionment when income interest ends. 1. For purposes of...

Section 637.401 - Character of receipts. - 637.401 Character of receipts. 1. For purposes of this section,...

Section 637.402 - Distribution from trust or estate. - 637.402 Distribution from trust or estate. 1. Subject to the...

Section 637.403 - Business and other activities conducted by trustee. - 637.403 Business and other activities conducted by trustee. 1. If...

Section 637.410 - Principal receipts. - 637.410 Principal receipts. The following items must be allocated to...

Section 637.411 - Rental property. - 637.411 Rental property. 1. An amount received as rent of...

Section 637.412 - Obligation to pay money. - 637.412 Obligation to pay money. 1. An amount received as...

Section 637.413 - Insurance policies and similar contracts. - 637.413 Insurance policies and similar contracts. 1. Proceeds from a...

Section 637.420 - Insubstantial allocations not required. - 637.420 Insubstantial allocations not required. 1. If a trustee determines...

Section 637.421 - Deferred compensation, annuities, and similar payments. - 637.421 Deferred compensation, annuities, and similar payments. 1. For purposes...

Section 637.422 - Liquidating asset. - 637.422 Liquidating asset. 1. In this section, “liquidating asset” means...

Section 637.423 - Minerals, water, and other natural resources. - 637.423 Minerals, water, and other natural resources. 1. Receipts from...

Section 637.424 - Timber. - 637.424 Timber. 1. A trustee may account for net receipts...

Section 637.425 - Property not productive of income. - 637.425 Property not productive of income. 1. If a marital...

Section 637.426 - Derivatives and options. - 637.426 Derivatives and options. 1. For purposes of this section,...

Section 637.427 - Asset-backed securities. - 637.427 Asset-backed securities. 1. For purposes of this section, “asset-backed...

Section 637.501 - Disbursements from income. - 637.501 Disbursements from income. A trustee shall make disbursements from...

Section 637.502 - Disbursements from principal. - 637.502 Disbursements from principal. 1. A trustee shall make disbursements...

Section 637.503 - Transfers from income to principal for depreciation. - 637.503 Transfers from income to principal for depreciation. 1. For...

Section 637.504 - Transfers from income to reimburse principal. - 637.504 Transfers from income to reimburse principal. 1. If a...

Section 637.505 - Income taxes. - 637.505 Income taxes. 1. A tax required to be paid...

Section 637.506 - Adjustments between principal and income because of taxes. - 637.506 Adjustments between principal and income because of taxes. 1....

Section 637.601 - Definitions. - 637.601 Definitions. For purposes of this subchapter: 1. “Disinterested person”...

Section 637.602 - Trustee’s authority to convert. - 637.602 Trustee’s authority to convert. A trustee, other than an...

Section 637.603 - Trustee requirements to convert or change computation method. - 637.603 Trustee requirements to convert or change computation method. A...

Section 637.604 - Interested trustee’s authority to convert. - 637.604 Interested trustee’s authority to convert. If there is no...

Section 637.605 - Interested trustee requirements to convert or change computation method. - 637.605 Interested trustee requirements to convert or change computation method....

Section 637.606 - Petition to court to convert trust. - 637.606 Petition to court to convert trust. 1. If any...

Section 637.607 - Valuation of trust. - 637.607 Valuation of trust. The fair market value of the...

Section 637.608 - Payout percentage. - 637.608 Payout percentage. The annual unitrust payout percentage shall be...

Section 637.609 - Unitrust amount. - 637.609 Unitrust amount. Repealed by 2008 Acts, ch 1119, §38...

Section 637.610 - Procedure upon conversion of income trust to total return unitrust. - 637.610 Procedure upon conversion of income trust to total return...

Section 637.611 - Total return unitrust administration. - 637.611 Total return unitrust administration. In administering a total return...

Section 637.612 - Principal distributions subject to governing instrument. - 637.612 Principal distributions subject to governing instrument. Conversion to a...

Section 637.613 - Construction and applicability. - 637.613 Construction and applicability. This subchapter shall be construed as...

Section 637.614 - Good faith actions. - 637.614 Good faith actions. Any trustee or disinterested person who...

Section 637.615 - Effective date. - 637.615 Effective date. This subchapter takes effect April 5, 2002,...

Section 637.701 - Application of chapter to existing trusts and estates — chapter prevails. - 637.701 Application of chapter to existing trusts and estates —...