reglab/statecodes huggingface dataset:
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 633F - IOWA UNIFORM CUSTODIAL TRUST ACT › Section 633F.16 - Limitations of action against custodial trustee.

633F.16 Limitations of action against custodial trustee.
1. Except as provided in subsection 3, unless previously barred by adjudication, consent, or limitation, a claim for relief against a custodial trustee for accounting or breach of duty is barred as to a beneficiary, a person to whom custodial trust property is to be paid or delivered, or the legal representative of an incapacitated or deceased beneficiary or payee who either:
a. Has received an accounting or other statement adequately disclosing the matter unless an action or proceeding to assert the claim is commenced within one year after receipt of such accounting or statement.
b. Has not received an accounting or other statement adequately disclosing the matter unless an action or proceeding to assert the claim is commenced within three years after the termination of the custodial trust.
2. For the purpose of subsection 1, a beneficiary or a person to whom custodial trust property is to be paid or delivered, is deemed to have received an accounting or other statement, in the following instances:
a. In the case of an adult who is reasonably capable of understanding the accounting or other statement if it is personally received by such person.
b. In the case of an adult who is not reasonably capable of understanding the accounting or other statement, if it is received by such adult person’s legal representative, and if none, then if received by a guardian ad litem, court visitor, or other person appointed for this purpose.
c. In the case of a minor, if it is received by a person who has authority to consent on the minor’s behalf, and if none, then if received by a guardian ad litem, court visitor, or other person appointed for this purpose.
3. Except as provided in subsection 4, a claim for relief to recover from a custodial trustee for fraud, misrepresentation, or concealment related to the final settlement of the custodial trust or concealment of the existence of the custodial trust, is barred unless an action or proceeding to assert the claim is commenced within five years after the termination of the custodial trust.
4. Unless an accounting or other statement adequately disclosing the matter was provided as set forth above, a claim for relief is not barred by this section if the claimant is or was any of the following:
a. A minor, until the earlier of one year after the claimant becomes an adult or dies; an incapacitated adult, until the earliest of one year after the following:
(1) The appointment of a legal representative.
(2) The removal of the incapacity.
(3) The death of the claimant.
b. An adult, now deceased, who was not incapacitated, until one year after the claimant’s death.
2021 Acts, ch 8, §16
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 633F - IOWA UNIFORM CUSTODIAL TRUST ACT › Section 633F.17 - Distribution on termination.

633F.17 Distribution on termination.
1. Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property:
a. To the beneficiary, if not incapacitated or deceased.
b. To the beneficiary’s legal representative or other recipient designated by the court for an incapacitated beneficiary.
c. Upon the beneficiary’s death, in the following order:
(1) As last directed in a writing signed by the deceased beneficiary while not incapacitated and received by the custodial trustee during the life of the deceased.
(2) As designated in the instrument creating the custodial trust.
(3) To the estate of the deceased beneficiary.
2. The direction to the custodial trustee by a beneficiary who is not incapacitated, for distribution on termination of the custodial trust may be in any written form clearly identifying the distributee and may be substantially similar to the following:
I, ________________ (name of beneficiary) hereby direct _____________________ (name of custodial trustee) as custodial trustee, to transfer and pay the unexpended balance of the custodial trust property of which I am beneficiary to __________________ (name of distributee) as distributee on the termination of the trust at my death. In the event of the prior death of _________ (name of distributee) above named as distributee, I designate ________________ (name of distributee) as distributee of the custodial trust property.
Signed ______________________ (signature of beneficiary).
Date ____________________
Receipt Acknowledged: ____________________ (signature of custodial trustee)
Date ___________________
3. If, when the custodial trust would otherwise terminate, the distributee is incapacitated, the custodial trust continues for the use and benefit of the distributee as beneficiary until the incapacity is removed or the custodial trust is otherwise terminated.
4. Death of a beneficiary does not terminate the power of the custodial trustee to discharge obligations of the custodial trustee or beneficiary incurred before the termination of the custodial trust.
2021 Acts, ch 8, §17; 2022 Acts, ch 1021, §167
Subsection 2 amended
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 633F - IOWA UNIFORM CUSTODIAL TRUST ACT › Section 633F.19 - Applicable law.

633F.19 Applicable law.
1. This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of business in this state or custodial trust property is located in this state. The custodial trust remains subject to this chapter despite a later change in residence or principal place of business of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from this state.
2. A transfer made pursuant to an act of another state substantially similar to this chapter is governed by the law of that state and may be enforced in this state.
2021 Acts, ch 8, §19
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 633F - IOWA UNIFORM CUSTODIAL TRUST ACT › Section 633F.20 - Uniformity of application and construction.

633F.20 Uniformity of application and construction.
This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.
2021 Acts, ch 8, §20
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 634 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 634.1 - Applicability.

634.1 Applicability.
This chapter shall apply only to trusts which are private foundations as defined in section 509 of the Internal Revenue Code, charitable trusts as described in section 4947(a) (1) of the Internal Revenue Code, or split-interest trusts as described in section 4947(a) (2) of the Internal Revenue Code. With respect to any such trust created after December 31, 1969, this chapter shall apply from such trust’s creation. With respect to any such trust created before January 1, 1970, this chapter shall apply only to such trust’s federal taxable years beginning after December 31, 1971.
[C73, 75, 77, 79, 81, §634.1]
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 634 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 634.2 - Statutory provisions as part of the trust.

634.2 Statutory provisions as part of the trust.
1. The trust instrument of each trust to which this chapter applies shall be deemed to contain provisions prohibiting the trustee from doing any of the following:
a. Engaging in any act of self-dealing, as defined in section 4941(d) of the Internal Revenue Code, which would give rise to any liability for the tax imposed by section 4941(a) of the Internal Revenue Code.
b. Retaining any excess business holdings, as defined in section 4943(c) of the Internal Revenue Code, which would give rise to any liability for the tax imposed by section 4943(a) of the Internal Revenue Code.
c. Making any investments which would jeopardize the carrying out of any of the exempt purposes of the trust, within the meaning of section 4944 of the Internal Revenue Code, so as to give rise to any liability for the tax imposed by section 4944(a) of the Internal Revenue Code.
d. Making any taxable expenditures, as defined in section 4945(d) of the Internal Revenue Code, which would give rise to any liability for the tax imposed by section 4945(a) of the Internal Revenue Code.
2. However, this section shall not apply either to those split-interest trusts or to amounts thereof which are not subject to the prohibitions applicable to private foundations by reason of the provisions of section 4947 of the Internal Revenue Code.
[C73, 75, 77, 79, 81, §634.2]
2013 Acts, ch 90, §218
Referred to in §634.6
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 634 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 634.3 - Distribution to avoid tax liability.

634.3 Distribution to avoid tax liability.
The trust instrument of each trust to which this chapter applies, except split-interest trusts, shall be deemed to contain a provision requiring the trustee to distribute for the purposes specified in the trust instrument for each taxable year of the trust amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue Code.
[C73, 75, 77, 79, 81, §634.3]
Referred to in §634.6
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 634 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 634.4 - Limitations.

634.4 Limitations.
Nothing in this chapter shall impair the rights and powers of the courts or the attorney general of this state with respect to any trust.
[C73, 75, 77, 79, 81, §634.4]
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 634 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 634.5 - Internal Revenue Code defined.

634.5 Internal Revenue Code defined.
All references to sections of the Internal Revenue Code mean the Internal Revenue Code as defined in section 422.3.
[C73, 75, 77, 79, 81, §634.5]
84 Acts, ch 1305, §41
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 634 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 634.6 - Statutory exception in trust.

634.6 Statutory exception in trust.
Nothing in this chapter shall limit the power of a person who creates a trust after July 1, 1971, or the power of a person who has retained or has been granted the right to amend a trust created before July 1, 1971, to include a specific provision in the trust instrument or an amendment to the trust instrument as the case may be, which provides that some or all of the provisions of sections 634.2 and 634.3 shall have no application to such trust.
[C73, 75, 77, 79, 81, §634.6]
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 634 - PRIVATE FOUNDATIONS AND CHARITABLE TRUSTS › Section 634.7 - Public grants by private foundations or trusts.

634.7 Public grants by private foundations or trusts.
A grant, by a trust organized and funded prior to January 1, 1992, to which this chapter applies, to the state of Iowa, or a political subdivision, or agency of the state or political subdivision, for purposes of economic development, shall be regarded as a charitable contribution if made prior to January 1, 1994.
92 Acts, ch 1244, §48
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 634A - SUPPLEMENTAL NEEDS TRUSTS FOR PERSONS WITH DISABILITIES › Section 634A.1 - Definitions.

634A.1 Definitions.
As used in this chapter, unless the context otherwise requires:
1. “Person with a disability” means a person to whom one of the following applies, prior to creation of a trust which otherwise qualifies as a supplemental needs trust for the person’s benefit:
a. Is considered to be a person with a disability under the disability criteria specified in Tit. II or Tit. XVI of the federal Social Security Act.
b. Has a physical or mental illness or condition which, in the expected natural course of the illness or condition, to a reasonable degree of medical certainty, is expected to continue for a continuous period of twelve months or more and substantially impairs the person’s ability to provide for the person’s care or custody.
2. “Supplemental needs trust” means an inter vivos or testamentary trust created for the benefit of a person with a disability and funded by a person other than the trust beneficiary or the beneficiary’s spouse, and which is declared to be a supplemental needs trust in the instrument creating the trust. “Supplemental needs trust” shall include, but is not limited to, a trust created for the benefit of a person with a disability and funded solely with moneys awarded as damages in a personal injury case or moneys received in the settlement of a personal injury case provided that the trust is created within six months of receiving the award or settlement, the trust is irrevocable, the beneficiary is not named a trustee of the trust, and the instrument creating the trust declares the trust to be a supplemental needs trust.
97 Acts, ch 112, §1; 2012 Acts, ch 1023, §84
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 635 - ADMINISTRATION OF SMALL ESTATES › Section 635.1 - When applicable.

635.1 When applicable.
When the gross value of the probate assets of a decedent subject to the jurisdiction of this state does not exceed two hundred thousand dollars, and upon a petition as provided in section 635.2 of an authorized petitioner in accordance with sections 633.227 and 633.228, or section 633.290, subsection 1, paragraph “a” or “b”, the clerk shall issue letters of appointment for administration to the proposed personal representative named in the petition, if qualified to serve pursuant to section 633.63 or upon court order pursuant to section 633.64. Unless otherwise provided in this chapter, the provisions of chapter 633 apply to an estate administered pursuant to this chapter.
[C75, 77, 79, 81, §635.1; 81 Acts, ch 199, §1; 82 Acts, ch 1204, §1 – 4]
89 Acts, ch 25, §1; 2007 Acts, ch 134, §21, 28; 2008 Acts, ch 1119, §34; 2013 Acts, ch 33, §8, 9
; 2018 Acts, ch 1140, §2, 7, 10
Referred to in §635.2, 635.7, 635.8
2018 amendment takes effect July 1, 2020, and applies to estates of decedents dying on or after July 1, 2020; 2018 Acts, ch 1140, §7, 10
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 635 - ADMINISTRATION OF SMALL ESTATES › Section 635.2 - Petition requirements.

635.2 Petition requirements.
The petition for administration of a small estate must contain the following:
1. The name, domicile, and date of death of the decedent.
2. The name and address of the surviving spouse.
3. The name and relationship of each heir so far as known to the petitioner in an intestate estate.
4. Whether the decedent died intestate or testate, and, if testate, the date the will was executed.
5. A statement that the probate assets of the decedent subject to the jurisdiction of this state do not have an aggregate gross value of more than the amount permitted under the provisions of section 635.1 and the approximate amount of personal property and income for the purposes of setting a bond.
6. The name and address of the proposed personal representative.
[C75, 77, 79, 81, §635.2; 81 Acts, ch 199, §2, 3]
89 Acts, ch 25, §2; 2007 Acts, ch 134, §22, 28; 2008 Acts, ch 1119, §35; 2017 Acts, ch 142, §1 – 3; 2018 Acts, ch 1140, §3, 6, 8
Referred to in §635.1
2017 amendments apply to petitions filed on or after July 1, 2017;
2017 Acts, ch 142, §3
2018 amendment applies July 1, 2018, to estates of decedents dying on or after July 1, 2018, and other estates opened previously and for which administration has not been completed as of July 1, 2018;
2018 Acts, ch 1140, §8
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 635 - ADMINISTRATION OF SMALL ESTATES › Section 635.7 - Report and inventory — value and conversion.

635.7 Report and inventory — value and conversion.
1. The personal representative is required to file the report and inventory for which provision is made in section 633.361, including all probate and nonprobate assets. This chapter does not exempt the personal representative from complying with the requirements of section 422.27, 450.22, 450.58, 633.480, or 633.481, and the administration of an estate whether converted to or from a small estate shall be considered one proceeding pursuant to section 633.330.
2. The report and inventory shall separately specify which assets are probate assets subject to the jurisdiction of this state and clearly state their gross value and the sum thereof.
3. If the gross value of probate assets subject to the jurisdiction of this state exceeds the amount permitted for a small estate under section 635.1, the estate shall be administered as provided in chapter 633.
4. If the report and inventory in an estate administered pursuant to chapter 633 separately specifies the gross value of the probate assets subject to the jurisdiction of this state does not exceed the amount permitted under section 635.1, the estate shall be administered as a small estate upon the filing of a statement by the personal representative that the estate is a small estate.
5. If the personal representative files a report to convert the estate administration to or from a small estate based on the gross value of probate assets subject to the jurisdiction of this state, the clerk shall make the conversion without an order of the court.
6. Other interested parties may apply to convert proceedings from a small estate to a regular estate or from a regular estate to a small estate which the court may grant only upon good cause shown.
[C75, 77, 79, 81, §635.7; 81 Acts, ch 199, §8]
89 Acts, ch 25, §3; 2003 Acts, ch 151, §57; 2004 Acts, ch 1120, §8; 2007 Acts, ch 134, §23, 28; 2012 Acts, ch 1123, §30; 2018 Acts, ch 1140, §4, 6, 9
2018 amendment applies July 1, 2018, to estates of decedents dying on or after July 1, 2018;
2018 Acts, ch 1140, §9
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 635 - ADMINISTRATION OF SMALL ESTATES › Section 635.13 - Notice — claims.

635.13 Notice — claims.
If a petition for administration of a small estate is granted, the notice as provided in section 633.237, and either sections 633.230 and 633.231 or sections 633.304 and 633.304A shall be given. Creditors having claims against the estate must file them with the clerk within the applicable time periods provided in such notices. The notice has the same force and effect as in chapter 633. Claimants of the estate shall be interested parties of the estate as long as the claims are pending in the estate.
[81 Acts, ch 199, §12]
84 Acts, ch 1080, §15; 89 Acts, ch 25, §6; 2007 Acts, ch 134, §25, 28
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.1 - Security to be by bond.

636.1 Security to be by bond.
Whenever security is required to be given by law or by order or judgment of a court, and no particular mode is prescribed, it shall be by bond.
[C51, §2505; R60, §4113; C73, §246; C97, §355; C24, 27, 31, 35, 39, §12751; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.1]
C93, §636.1
See chapter 633, subchapter III, part 7
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.2 - Payee.

636.2 Payee.
Such security, when not otherwise directed, may, if for the benefit of individuals, be given to the party intended to be secured thereby; if in relation to the public matters concerning the inhabitants of one county or part of a county, it may be made payable to the county; if concerning the inhabitants of more than one county, it may be made payable to the state, but a mere mistake in these respects will not vitiate the security.
[C51, §2506; R60, §4114; C73, §247; C97, §356; C24, 27, 31, 35, 39, §12752; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.2]
C93, §636.2
See §633.181
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.3 - Defects rectified.

636.3 Defects rectified.
A defective bond or other security or affidavit in any case shall not prejudice the party giving or making the bond, security, or affidavit, provided that the defect is rectified, within a reasonable time after the defect is discovered, so as not to cause essential injury to the other party.
[C51, §2511; R60, §4119; C73, §248; C97, §357; C24, 27, 31, 35, 39, §12753; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.3]
C93, §636.3
2021 Acts, ch 80, §364
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.4 - Qualifications of sureties.

636.4 Qualifications of sureties.
Each personal surety shall execute and file with the clerk an affidavit that the surety owns real estate subject to execution, other than real estate held in joint tenancy between persons other than cosureties, equal to double the amount of the bond, and shall include in the affidavit the total amount of the surety’s obligations as surety on other official or statutory bonds. If there are two or more sureties on the same bond, they must in the aggregate have the qualification prescribed in this section.
[R60, §4126; C73, §249; C97, §358; S13, §358; C24, 27, 31, 35, 39, §12754; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.4]
85 Acts, ch 71, §1
C93, §636.4
Referred to in §633.182, 636.5
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.5 - Attorneys not receivable as surety.

636.5 Attorneys not receivable as surety.
Attorneys at law shall not be accepted as sureties upon any official bonds provided for in section 636.4.
[S13, §358; C24, 27, 31, 35, 39, §12755; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.5]
C93, §636.5
Referred to in §636.6, 636.7
See §633.182
Similar provision, §621.7
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.6 - New bond required.

636.6 New bond required.
Whenever the board of supervisors of any county shall have knowledge that any attorney at law is surety upon any official bond, as prohibited under section 636.5, it shall require the officer to forthwith file a new bond.
[S13, §358; C24, 27, 31, 35, 39, §12756; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.6]
C93, §636.6
2021 Acts, ch 80, §365
Referred to in §331.322, 636.7
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.7 - Surety bound notwithstanding disqualification.

636.7 Surety bound notwithstanding disqualification.
Nothing in sections 636.5 and 636.6 shall exempt such person from any liability upon the bond signed by the person.
[S13, §358; C24, 27, 31, 35, 39, §12757; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.7]
C93, §636.7
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.8 - Affidavit of sureties — effect of.

636.8 Affidavit of sureties — effect of.
The officer whose duty it is to take a surety in any bond provided for or authorized by law shall require the person offered as surety to make affidavit of the person’s qualification, which affidavit may be made before such officer, or other officer authorized to administer oaths.
[R60, §4125; C73, §250; C97, §359; C24, 27, 31, 35, 39, §12758; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.8]
C93, §636.8
Referred to in §636.9
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.9 - Effect of affidavit.

636.9 Effect of affidavit.
The taking of an affidavit under section 636.8 shall not exempt the officer from any liability to which the officer might otherwise be subject for taking insufficient security.
[R60, §4125; C73, §250; C97, §359; C24, 27, 31, 35, 39, §12759; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.9]
C93, §636.9
2021 Acts, ch 80, §366
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.10 - Appeal bonds — presumption.

636.10 Appeal bonds — presumption.
The filing by an approving officer of a duly tendered appeal bond in an appeal to any court shall carry the presumption until the contrary is established that said officer approved the bond even though no formal approval is endorsed on the bond.
[C31, 35, §12759-c1; C39, §12759.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.10]
C93, §636.10
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.11 - Authority to act as surety — agent qualifications.

636.11 Authority to act as surety — agent qualifications.
1. The commissioner of insurance shall annually file with the clerk of the district court of each county a complete list of the corporate sureties to whom the commissioner has issued a current certificate of authority to transact the business of a surety in this state.
2. An agent for a company authorized to engage in the business of becoming surety upon bonds pursuant to subsection 1 must be a resident of this state for the purpose of acting on behalf of the surety company with respect to any bond or bail in criminal cases.
[C97, §359; C24, 27, 31, 35, 39, §12760; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.11]
88 Acts, ch 1034, §1; 91 Acts, ch 213, §33
C93, §636.11
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.12 - Certificate revoked — notice.

636.12 Certificate revoked — notice.
Should the certificate of authority for a corporate surety be withdrawn at any time, the commissioner of insurance shall at once notify the clerk of each district court to that effect.
[C97, §359; C24, 27, 31, 35, 39, §12761; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.12]
C93, §636.12
2021 Acts, ch 80, §367
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.14 - Guaranty company as surety.

636.14 Guaranty company as surety.
Whenever any person who now or hereafter may be required or permitted to give a bond applies for the approval thereof, any officer or body who is now or shall hereafter be required to approve the sufficiency of such bond shall accept and approve the same, whenever its conditions are guaranteed by a company or corporation duly organized or incorporated under the laws of this state, or authorized to do business therein, and to guarantee the fidelity of persons holding positions of public or private trust, or secure any bond above referred to, and which company shall have the certificate of the commissioner of insurance authorizing it to do business therein, as provided in chapter 515.
[C97, §360; SS15, §360; C24, 27, 31, 35, 39, §12763; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.14]
C93, §636.14
Referred to in §633.182, 636.15, 636.18
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.15 - Payment of premiums.

636.15 Payment of premiums.
The premium for any such guaranty or surety company bond as defined in section 636.14, may, by the approval of the court, be paid out of the trust funds in the hands of the party of whom the bond is required.
[SS15, §360; C24, 27, 31, 35, 39, §12764; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.15]
C93, §636.15
Referred to in §636.18
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.16 - Certificate as authority.

636.16 Certificate as authority.
The certificate of the commissioner of insurance, to the effect that such company has complied with the requirements of chapter 515 and is authorized to do business in this state, shall be sufficient evidence to authorize the officer or body having the approval of such bond to accept and approve the same.
[C97, §360; SS15, §360; C24, 27, 31, 35, 39, §12765; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.16]
C93, §636.16
Referred to in §636.18
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.17 - Limitation on acceptance.

636.17 Limitation on acceptance.
No such security shall be accepted on any bond for an amount in excess of ten percent of the paid-up cash capital of such company or corporation unless the excess shall be reinsured in some other company or corporation authorized to do business in the state and in no case to exceed ten percent of the capital of the reinsuring company and provided that a certificate of such reinsurance shall be furnished to the insured.
[C97, §360; SS15, §360; C24, 27, 31, 35, 39, §12766; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.17]
C93, §636.17
Referred to in §636.18
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.18 - Criminal bonds.

636.18 Criminal bonds.
Nothing contained in sections 636.14 through 636.17 shall apply to bonds in criminal cases.
[C97, §360; SS15, §360; C24, 27, 31, 35, 39, §12767; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.18]
C93, §636.18
2019 Acts, ch 59, §222
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.19 - Release.

636.19 Release.
Such company or corporation may be released from its liability as such surety on any bond on the same terms and conditions, and in the same manner, as is by law prescribed for the release of natural persons as such sureties; it being the intent of this chapter to enable companies created, incorporated, or chartered for such purposes to become surety on bonds required by law, subject to all the rights and liabilities of natural persons.
[C97, §361; C24, 27, 31, 35, 39, §12768; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.19]
C93, §636.19
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.20 - Suit on bond — service.

636.20 Suit on bond — service.
Whenever suit is required to be brought on any bond given by such company, service shall be had upon any agent of such company in this state, and if there is no agent in the state, then service may be had by serving the commissioner of insurance fifteen days before the term of court in which the suit is sought to be brought.
[C97, §362; C24, 27, 31, 35, 39, §12769; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.20]
C93, §636.20
See §633.186
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.21 - Commissioner as process agent.

636.21 Commissioner as process agent.
It shall be the duty of the commissioner of insurance, upon service being made upon the commissioner, to immediately mail a copy of the notice to the company at the company’s principal place of business, and any notice so served shall be deemed to be good and sufficient service on any such company.
[C97, §362; C24, 27, 31, 35, 39, §12770; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.21]
C93, §636.21
2016 Acts, ch 1011, §112
See §633.186
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.22 - Estoppel — stockholders liable.

636.22 Estoppel — stockholders liable.
Any company which shall execute any bond as surety under the provisions of this chapter shall be estopped, in any proceeding to enforce the liability which it shall have assumed to incur, to deny its corporate power to execute such instrument or assume such liability; and the private property of the stockholders shall be liable for the debts of the corporation to the full amount of the capital stock held by such stockholders.
[C97, §363; C24, 27, 31, 35, 39, §12771; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.22]
C93, §636.22
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.24 - Population and indebtedness.

636.24 Population and indebtedness.
The population specified in section 636.23 shall be determined by the last preceding official federal census. The indebtedness of any municipality or governmental subdivision shall be determined by the official certificate of the officer of such municipality or district in charge of its public accounts.
[C31, 35, §12772-c1; C39, §12772.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.24]
C93, §636.24
Referred to in §636.25
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.25 - Existing investments.

636.25 Existing investments.
Any fiduciary not governed by the probate code may by and with the consent of the court having jurisdiction over such fiduciary or under permission of the instrument creating the trust, continue to hold any investment originally received by the fiduciary under the trust or any increase thereof. Such fiduciary may also make investments which the fiduciary may deem necessary to protect and safeguard investments already made according to the provisions of this and sections 636.23 and 636.24.
[C31, 35, §12772-c2; C39, §12772.2; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.25]
C93, §636.25
Referred to in §636.26
See §633.127, 633A.4302
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.26 - Security subject to court order.

636.26 Security subject to court order.
1. When any investment is made pursuant to approval of the court as required by section 636.23 or made or held by and with the consent of the court as provided in section 636.25, such investment shall not be transferred and any security taken to secure such investment shall not be discharged or impaired prior to payment or satisfaction thereof without an order of the court to that effect, unless otherwise authorized by the will, trust agreement, or other document under which the fiduciary is acting. Nothing contained in this section shall be construed as requiring the approval of any court to release or discharge of record any mortgage or other lien held by any fiduciary upon the payment or satisfaction thereof in full.
2. All releases or discharges of record of mortgages or other liens prior to July 4, 1951, by any fiduciary without an order of court where such order was required by section 682.26, Code 1950, are hereby declared to be valid and effective from the filing or recording thereof without such order of court being had and obtained, unless within six months after said date a statement is filed under oath by the claimant or on the claimant’s behalf if under disability with the county recorder where such release or discharge was filed or recorded setting forth the claim upon which the invalidity of such release or discharge is based. Nothing contained in this section shall affect pending litigation.
[C51, §2508; R60, §4116; C73, §252; C97, §365; C24, 27, 31, 35, 39, §12773; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.26]
C93, §636.26
2016 Acts, ch 1073, §176
See §633.95
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.27 - Collection, application of funds, and reinvestment.

636.27 Collection, application of funds, and reinvestment.
The clerk or other person appointed in such cases to make the investment must receive all moneys as they become due thereon, and apply or reinvest the same under the direction of the court, unless the court appoints some other person to do such acts.
[C51, §2509; R60, §4117; C73, §253; C97, §366; C24, 27, 31, 35, 39, §12774; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.27]
C93, §636.27
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.28 - Annual accounting.

636.28 Annual accounting.
Once in each year, and more often if required by the court, the person so appointed must, on oath, render to the court an account in writing of all moneys so received by that person, and of the application thereof.
[C51, §2510; R60, §4118; C73, §254; C97, §367; C24, 27, 31, 35, 39, §12775; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.28]
C93, §636.28
2005 Acts, ch 3, §107
See §633.469, 633.470, 633.671, 633.752
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.29 - Property or funds in litigation — deposit.

636.29 Property or funds in litigation — deposit.
When it is admitted by the pleadings, or shown by the examination of a party, that the party has in the party’s possession, or under the party’s control, any money or property capable of delivery, which is in any degree the subject of litigation, and which is held by the party as trustee for another party, the court may order the same to be deposited in the office of the clerk, or delivered to such party, with or without security, subject to the further direction of the court; or may order such money to be deposited in a bank, with the consent of the parties in interest, to the credit of the court in which the action is pending, and the same shall be paid out by such bank only upon the check of the clerk, annexed to a certified copy of the order of the court directing such payment.
[R60, §3416; C73, §255; C97, §368; C24, 27, 31, 35, 39, §12776; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.29]
C93, §636.29
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.30 - Enforcement of order.

636.30 Enforcement of order.
Whenever a court, in the exercise of its authority, has ordered the deposit or delivery of money or other property, and the order is disobeyed, such court, besides punishing the disobedience, may make an order requiring the sheriff to take the money or property, and deposit or deliver it in conformity with the directions of the court, and in such cases the sheriff has the same power as when acting under an order for the delivery of personal property.
[R60, §3417, 3418; C73, §256, 257; C97, §369; C24, 27, 31, 35, 39, §12777; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.30]
C93, §636.30
Referred to in §331.653
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.31 - Inability to distribute trust funds — deposit.

636.31 Inability to distribute trust funds — deposit.
Whenever any fiduciary not governed by the probate code shall desire to make a final report, and shall then have in the fiduciary’s possession or under the fiduciary’s control any funds, moneys, or securities due, or to become due, to any heir, legatee, devisee, or other person, whose place of residence is unknown to such fiduciary, or to whom payment of the amount due cannot be made as shown by the report on file, such funds, moneys, or securities may upon order of the court and after such notice as the court may prescribe, be deposited with the clerk of the district court of the county wherein such appointment was made.
[C97, §370; S13, §370; C24, 27, 31, 35, 39, §12778; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.31]
C93, §636.31
Referred to in §636.34
See §633.109
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.32 - Receipt taken.

636.32 Receipt taken.
If a fiduciary not governed by the probate code shall otherwise discharge all the duties imposed upon that fiduciary by such appointment, the fiduciary may take the receipt of the clerk of the district court for such funds, moneys, or securities so deposited, which receipt shall specifically set forth from whom said funds, moneys, or securities, were derived, the amount thereof, and the name of the person to whom due or to become due, if known.
[C97, §370; S13, §370; C24, 27, 31, 35, 39, §12779; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.32]
C93, §636.32
2021 Acts, ch 80, §368
Referred to in §636.33
See §633.110
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.33 - Final discharge.

636.33 Final discharge.
A fiduciary not governed by the probate code may file the receipt described in section 636.32 with the fiduciary’s final report, and if it shall be made to appear to the satisfaction of the court that the fiduciary has in all other respects complied with the law governing the fiduciary’s appointment and duties, the court may approve such final report and enter the fiduciary’s discharge.
[C97, §370; S13, §370; C24, 27, 31, 35, 39, §12780; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.33]
C93, §636.33
2015 Acts, ch 30, §186; 2021 Acts, ch 80, §369
Fiduciaries’ reports, §422.27
See §633.111
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.34 - Notice of deposit.

636.34 Notice of deposit.
Notice of a contemplated deposit under section 636.31, and of final report, shall be given for the same time and in the same manner as is now required in cases of final report by personal representatives under the probate code.
[C97, §370; S13, §370; C24, 27, 31, 35, 39, §12781; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.34]
C93, §636.34
2015 Acts, ch 30, §187
Notice, §633.478, 633.487
See §633.109
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.37 - Duty of clerk.

636.37 Duty of clerk.
1. The clerk of the district court with whom any deposit of funds, moneys, or securities shall be made, as provided by any law or an order of court, shall enter in a book, to be provided and kept for that purpose, the amount of such deposit, the character thereof, the date of its deposit, from whom received, from what source derived, to whom due or to become due, if known.
2. A separate book shall be maintained for all certificates of deposit not in the name of the clerk of the district court that are being held by the clerk on behalf of a conservatorship, trust, or estate. The book shall list the relevant details of the transaction, including but not limited to the name of the conservator, trustee, or executor, and cross references to the court orders opening and closing the conservatorship, trust, or estate.
[C97, §371; S13, §371; C24, 27, 31, 35, 39, §12782; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.37]
C93, §636.37
2009 Acts, ch 21, §13
Referred to in §602.8104
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.38 - Liability.

636.38 Liability.
The clerk shall be liable upon the clerk’s bond for all such funds, moneys, or securities which may be deposited with the clerk and shall make complete verified statements thereof as required by the supreme court.
[C97, §371; S13, §371; C24, 27, 31, 35, 39, §12783; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.38]
91 Acts, ch 258, §63
C93, §636.38
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.45 - Federally insured loans.

636.45 Federally insured loans.
1. Insurance companies, savings associations, trustees, guardians, executors, administrators, and other fiduciaries, the state and its political subdivisions, and institutions and agencies thereof, and all other persons, associations, and corporations:
a. May make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are eligible for insurance pursuant to Tit. I, §2, of the National Housing Act (1934), codified at 12 U.S.C. ch. 13, and may obtain such insurance;
b. May make such loans, secured by real property or leasehold, as the federal housing administrator insures or makes a commitment to insure pursuant to Tit. II of the National Housing Act (1934), and may obtain such insurance; and
c. May make real property loans which are guaranteed or insured by the secretary of the United States department of veterans affairs under the provisions of 38 U.S.C. §3701 et seq.
2. It shall be lawful for insurance companies, savings associations, trustees, guardians, executors, administrators, and other fiduciaries, the state and its political subdivisions, and institutions and agencies thereof, and all other persons, associations, and corporations, subject to the laws of this state, to originate real estate loans which are guaranteed or insured by the secretary of the United States department of veterans affairs under the provisions of 38 U.S.C. §3701 et seq., and originate loans secured by real property or leasehold, as the federal housing administrator insures or makes a commitment to insure pursuant to Tit. II of the National Housing Act (1934), and may obtain such insurance and may invest their funds, and the moneys in their custody or possession, eligible for investment, in bonds and notes secured by mortgage or trust deed insured by the federal housing administrator, and in the debentures issued by the federal housing administrator pursuant to Tit. II of the National Housing Act (1934), and in securities issued by national mortgage associations or similar credit institutions now or hereafter organized under Tit. III of the National Housing Act (1934), and in real estate loans which are guaranteed or insured by the secretary of the United States department of veterans affairs under the provisions of 38 U.S.C. §3701 et seq.
[C35, §12786-g1; C39, §12786.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.45]
C93, §636.45
2009 Acts, ch 26, §24; 2010 Acts, ch 1061, §78; 2011 Acts, ch 34, §142; 2012 Acts, ch 1017, §155, 156
Referred to in §636.46
2023 Iowa Code › Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES › Chapter 636 - SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS › Section 636.46 - Inapplicable statutes.

636.46 Inapplicable statutes.
No law of this state requiring security upon which loans or investments may be made, or prescribing the nature, amount or form of such security, or prescribing or limiting interest rates upon loans or investments which may be made, shall be deemed to apply to loans or investments pursuant to section 636.45.
[C35, §12786-g2; C39, §12786.2; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.46]
C93, §636.46
Referred to in §533.316, 535.2