reglab/housing_qa huggingface dataset:
IA Code § 633A.4104 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4104 - Vacancy in office of trustee.

633A.4104 Vacancy in office of trustee.   A vacancy in the office of trustee exists if any of the following occurs:   1. The person named as trustee declines to serve as trustee.   2. The person named as trustee cannot be identified or does not exist.   3. The trustee resigns or is removed.   4. The trustee dies.   5. A guardian or conservator of the trustee’s person or estate is appointed.  99 Acts, ch 125, §39, 109; 2000 Acts, ch 1150, §21  C2001, §633.4104  2005 Acts, ch 38, §54  CS2005, §633A.4104
IA Code § 633A.4105 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4105 - Filling vacancy.

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
IA Code § 633A.4106 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 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.  99 Acts, ch 125, §41, 109  C2001, §633.4106  2002 Acts, ch 1107, §8; 2005 Acts, ch 38, §54, 55  CS2005, §633A.4106
IA Code § 633A.4107 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4107 - Removal of trustee.

633A.4107 Removal of trustee.   1. A trustee may be removed in accordance with the terms of the trust, or on petition of a settlor, cotrustee, or beneficiary under section 633A.6202.   2. The court may remove a trustee, or order other appropriate relief if any of the following occurs:   a. If the trustee has committed a material breach of the trust.   b. If the trustee is unfit to administer the trust.   c. If hostility or lack of cooperation among cotrustees impairs the administration of the trust.   d. If the trustee’s investment performance is consistently and substantially substandard.   e. If the trustee’s compensation is excessive under the circumstances.   f. If the trustee merges with another institution or the location or place of administration of the trust changes.   g. For other good cause shown.   3. If it appears to the court that trust property or the interests of a beneficiary may suffer loss or injury pending a final decision on a petition for removal of a trustee, the court may suspend the powers of the trustee, compel the trustee to surrender trust property to a cotrustee, receiver, or temporary trustee, or order other appropriate relief.  99 Acts, ch 125, §42, 109; 2000 Acts, ch 1150, §23  C2001, §633.4107  2003 Acts, ch 95, §13; 2005 Acts, ch 38, §54, 55  CS2005, §633A.4107
IA Code § 633A.4108 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4108 - Delivery of property by former trustee.

633A.4108 Delivery of property by former trustee.   Unless a cotrustee remains in office, a former trustee, or if the trustee’s appointment terminated because of death or disability, the former trustee’s personal representative or guardian or conservator, is responsible for and has the powers necessary to protect the trust property and other powers essential to the trust’s administration until the property is delivered to a successor trustee or a person appointed by the court to receive the property.  99 Acts, ch 125, §43, 109  C2001, §633.4108  2005 Acts, ch 38, §54  CS2005, §633A.4108
IA Code § 633A.4109 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4109 - Compensation of trustee.

633A.4109 Compensation of trustee.   1. If the terms of the trust do not specify the trustee’s compensation, a trustee or cotrustee is entitled to compensation that is reasonable under the circumstances.   2. If the terms of the trust specify the trustee’s compensation, the trustee is entitled to be compensated as so provided, except that upon proper showing, the court may allow more or less compensation in the following instances:   a. If the duties of the trustee are substantially different from those contemplated when the trust was created.   b. If the compensation specified by the terms of the trust would be inequitable, or unreasonably low or high.   c. In extraordinary circumstances calling for equitable relief.  99 Acts, ch 125, §44, 109  C2001, §633.4109  2005 Acts, ch 38, §54  CS2005, §633A.4109
IA Code § 633A.4110 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4110 - Repayment for expenditures.

633A.4110 Repayment for expenditures.   A trustee is entitled to be repaid out of the trust property, with interest as appropriate, for all of the following expenditures:   1. Expenditures that were properly incurred in the administration of the trust.   2. To the extent that they benefited the trust, expenditures that were not properly incurred in the administration of the trust.  99 Acts, ch 125, §45, 109  C2001, §633.4110  2005 Acts, ch 38, §54  CS2005, §633A.4110
IA Code § 633A.4111 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4111 - Notice of increased trustee’s fee.

633A.4111 Notice of increased trustee’s fee.   1. As used in this section, “trustee’s fee” includes a trustee’s periodic base fee, rate of percentage compensation, minimum fee, hourly rate, and transaction charge, but does not include fees for extraordinary services.   2. A trustee shall not charge an increased trustee’s fee for administration of a trust unless the trustee first gives at least thirty days’ written notice of the increased fee to all of the following beneficiaries:   a. Each qualified beneficiary.   b. Each beneficiary who was given the last preceding accounting.   c. Each beneficiary who has made a written request to the trustee for notice of an increased trustee’s fee, and has given an address for receiving notice by mail.   3. If a beneficiary files a petition for review of an increased trustee’s fee or for removal of a trustee and serves a copy of the petition on the trustee within the thirty-day period, the increased fee does not take effect until otherwise ordered by the court or the petition is dismissed.  99 Acts, ch 125, §46, 109; 2000 Acts, ch 1150, §24  C2001, §633.4111  2002 Acts, ch 1107, §9; 2005 Acts, ch 38, §54  CS2005, §633A.4111
IA Code § 633A.4201 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4201 - Duty to administer trust — alteration by terms of trust.

633A.4201 Duty to administer trust — alteration by terms of trust.   1. On acceptance of a trust, the trustee shall administer the trust according to the terms of the trust and according to this trust code, except to the extent the terms of the trust provide otherwise.   2. The terms of the trust may expand, restrict, eliminate, or otherwise alter the duties prescribed by this trust code, and the trustee may reasonably rely on those terms, but nothing in this trust code authorizes a trustee to act in bad faith or in disregard of the purposes of the trust or the interest of the beneficiaries.  99 Acts, ch 125, §47, 109  C2001, §633.4201  2005 Acts, ch 38, §54  CS2005, §633A.4201
IA Code § 633A.4202 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4202 - Duty of loyalty — impartiality — confidential relationship.

633A.4202 Duty of loyalty — impartiality — confidential relationship.   1. A trustee shall administer the trust solely in the interest of the beneficiaries, and shall act with due regard to their respective interests.   2. Any transaction involving the trust which is affected by a material conflict between the trustee’s fiduciary and personal interests is voidable by a beneficiary affected by the transaction unless one of the following applies:   a. The transaction was expressly authorized by the terms of the trust.   b. The beneficiary consented to or affirmed the transaction or released the trustee from liability as provided in section 633A.4506.   c. The transaction is approved by the court after notice to interested persons.   3. A transaction affected by a material conflict between personal and fiduciary interests includes any sale, encumbrance, or other transaction involving the trust property entered into by the trustee, the spouse, descendant, agent, or attorney of a trustee, or corporation or other enterprise in which the trustee has a substantial beneficial interest.   4. A transaction not involving trust property between a trustee and a beneficiary which occurs during the existence of the trust or while the trustee retains significant influence over the beneficiary and from which the trustee obtains an advantage is an abuse of a confidential relationship unless the trustee establishes that the transaction was fair.   5. This section does not apply to any of the following:   a. An agreement between a trustee and a beneficiary relating to the appointment of the trustee.   b. The payment of compensation to the trustee, whether by agreement, the terms of the trust, or this trust code.   c. A transaction between a trust and another trust, decedent’s or conservatorship estate of which the trustee is a fiduciary if the transaction is fair to the beneficiaries of the trust.   d. An investment by a trustee in securities of an investment company or investment trust to which the trustee, or its affiliate, provides services in a capacity other than as trustee if the investment complies with the prudent investor rule. The trustee may be compensated by the investment company or investment trust for providing services from fees charged to the trust if the trustee provides annual notice and a copy of the trustee’s annual report, including the rate and method by which the trustee’s compensation was determined, to the persons specified in section 633A.4213.   e. A deposit of trust money in a regulated financial service institution operated by the trustee.  99 Acts, ch 125, §48, 109  C2001, §633.4202  2002 Acts, ch 1107, §10; 2005 Acts, ch 38, §54, 55  CS2005, §633A.4202
IA Code § 633A.4203 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4203 - Standard of prudence.

633A.4203 Standard of prudence.   A trustee shall administer the trust with the reasonable care, skill, and caution as a prudent person would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust.  99 Acts, ch 125, §49, 109  C2001, §633.4203  2005 Acts, ch 38, §54  CS2005, §633A.4203
IA Code § 633A.4204 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4204 - Costs of administration.

633A.4204 Costs of administration.   A trustee may only incur costs that are reasonable in relation to the trust property, purposes, and other circumstances of the trust.  99 Acts, ch 125, §50, 109  C2001, §633.4204  2005 Acts, ch 38, §54  CS2005, §633A.4204
IA Code § 633A.4205 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4205 - Special skills.

633A.4205 Special skills.   A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee’s representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise.  99 Acts, ch 125, §51, 109  C2001, §633.4205  2005 Acts, ch 38, §54  CS2005, §633A.4205
IA Code § 633A.4206 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4206 - Delegation.

633A.4206 Delegation.   1. A trustee shall not delegate to an agent or cotrustee the entire administration of the trust or the responsibility to make or participate in the making of decisions with respect to discretionary distributions, but a trustee may otherwise delegate the performance of functions that a prudent trustee of comparable skills might delegate under similar circumstances.   2. The trustee shall exercise reasonable care, skill, and caution in the following activities:   a. Selecting an agent.   b. Establishing the scope and terms of a delegation, consistent with the purposes and terms of the trust.   c. Periodically reviewing an agent’s overall performance and compliance with the terms of the delegation.   d. Redressing an action or decision of an agent which would constitute a breach of trust if performed by the trustee.   3. A trustee who complies with the requirements of subsections 1 and 2 is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom a function was delegated.   4. In performing a delegated function, an agent shall exercise reasonable care to comply with the terms of the delegation.   5. By accepting the delegation of a trust function from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state.  99 Acts, ch 125, §52, 109  C2001, §633.4206  2005 Acts, ch 38, §54  CS2005, §633A.4206
IA Code § 633A.4207 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4207 - Directory powers.

633A.4207 Directory powers.   1. While a trust is revocable, the trustee may follow a written direction of the settlor that is contrary to the terms of the trust.   2. In addition to any powers granted to a trustee, the terms of the trust may confer powers upon trust directors and trust protectors as set forth in sections 633A.4801 through 633A.4810. A person’s status as a trust director or trust protector under Iowa law shall be determined on the basis of the powers granted and not on the title given to such person in the trust instrument.  99 Acts, ch 125, §53, 109  C2001, §633.4207  2003 Acts, ch 95, §14; 2005 Acts, ch 38, §54  CS2005, §633A.4207  2006 Acts, ch 1104, §11; 2020 Acts, ch 1076, §3, 4  Subsection 2 amended  Subsection 3 stricken
IA Code § 633A.4208 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4208 - Cotrustees.

633A.4208 Cotrustees.   1. If a trust has more than one trustee, each trustee shall perform all of the following duties:   a. Participate in the administration of the trust.   b. Take reasonable steps to prevent a cotrustee from committing a breach of trust, and to compel a cotrustee to redress a breach of trust.   2. A trustee who complies with subsection 1 is not liable to the beneficiaries or to the trust for the decisions or actions of a cotrustee.  99 Acts, ch 125, §54, 109  C2001, §633.4208  2005 Acts, ch 38, §54  CS2005, §633A.4208
IA Code § 633A.4209 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4209 - Control and safeguarding of trust property.

633A.4209 Control and safeguarding of trust property.   A trustee shall take reasonable steps under the circumstances to take control of and to safeguard the trust property unless it is in the best interests of the trust to abandon or refuse acceptance of the property.  99 Acts, ch 125, §55, 109  C2001, §633.4209  2005 Acts, ch 38, §54  CS2005, §633A.4209
IA Code § 633A.4210 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4210 - Separation and identification of trust property.

633A.4210 Separation and identification of trust property.   A trustee shall do all of the following:   1. Keep the trust property separate from other property of the trustee unless the trust provides otherwise.   2. Cause the trust property to be designated in such a manner that the interest of the trust clearly appears.  99 Acts, ch 125, §56, 109  C2001, §633.4210  2005 Acts, ch 38, §54  CS2005, §633A.4210
IA Code § 633A.4211 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4211 - Enforcement and defense of claims and actions.

633A.4211 Enforcement and defense of claims and actions.   A trustee shall take reasonable steps to enforce claims of the trust, to defend claims against the trust, and to defend against actions that may result in a loss to the trust.  99 Acts, ch 125, §57, 109  C2001, §633.4211  2002 Acts, ch 1107, §11; 2005 Acts, ch 38, §54  CS2005, §633A.4211
IA Code § 633A.4212 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4212 - Prior fiduciaries.

633A.4212 Prior fiduciaries.   A trustee shall take reasonable steps to do all of the following:   1. Compel a former trustee or other fiduciary to deliver trust property to the trustee.   2. Redress a breach of trust known to the trustee to have been committed by a prior trustee or other fiduciary.  99 Acts, ch 125, §58, 109  C2001, §633.4212  2005 Acts, ch 38, §54  CS2005, §633A.4212
IA Code § 633A.4214 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4214 - Duties with regard to discretionary powers.

633A.4214 Duties with regard to discretionary powers.   1. A trustee shall exercise a discretionary power within the bounds of reasonable judgment and in accordance with applicable fiduciary principles and the terms of the trust.   2. Notwithstanding the use of such terms as “absolute”, “sole”, or “uncontrolled” in the grant of discretion, a trustee shall act in accordance with fiduciary principles and shall not act in bad faith or in disregard of the purposes of the trust or the power. Absent an abuse of discretion, a trustee’s exercise of discretion is not subject to control by a court.   3. Subject to paragraph “c” and unless the terms of the trust expressly indicate that a rule in this subsection does not apply, all of the following shall apply:   a. A person other than a settlor who is a beneficiary and trustee of a trust that confers on the trustee the power to make discretionary distributions to or for the trustee’s personal benefit may exercise the power only in accordance with an ascertainable standard relating to the trustee’s individual health, education, support, or maintenance within the meaning of section 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986.   b. A trustee shall not exercise a power to make discretionary distributions to satisfy a legal obligation of support that the trustee personally owes to another person.   c. This subsection does not apply to the following:   (1) A power held by the settlor’s spouse who is the trustee of a trust for which a marital deduction, as defined in section 2056(b)(5) or 2523(e) of the Internal Revenue Code of 1986, was previously allowed.   (2) A trust that may be revoked or amended by the settlor.   (3) A trust, if contributions to the trust qualify for an annual exclusion under section 2503(c) of the Internal Revenue Code of 1986.   4. A power whose exercise is limited or prohibited by subsection 3 may be exercised by a majority of the remaining trustees whose exercise of the power is not so limited or prohibited. If the power of all trustees is so limited or prohibited, the court may appoint a special fiduciary with authority to exercise the power.  99 Acts, ch 125, §60, 109  C2001, §633.4214  2002 Acts, ch 1107, §13; 2003 Acts, ch 95, §16; 2003 Acts, ch 108, §109; 2005 Acts, ch 38, §54  CS2005, §633A.4214
IA Code § 633A.4301 (2021)
2021 Iowa Code|Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES|Chapter 633A - IOWA TRUST CODE|Section 633A.4301 - Short title.

633A.4301 Short title.   This part may be cited as the “Uniform Prudent Investor Act”.  99 Acts, ch 125, §61, 109  C2001, §633.4301  2005 Acts, ch 38, §54, 55  CS2005, §633A.4301