Iowa Code § 633A.4602

Current through bills signed by governor as of 5/17/2024
Section 633A.4602 - Dissenting cotrustees
1. A cotrustee who does not join in exercising a power is not liable to a third party for the consequences of the exercise of the power.
2. A dissenting cotrustee who joins in an action at the direction of the majority cotrustees is not liable to a third party for the action if the dissenting cotrustee expresses the dissent in writing to any other cotrustee at or before the action is taken.
3. This section does not excuse a cotrustee from liability for failure to discharge a cotrustee's duties as a trustee.

Iowa Code § 633A.4602

99 Acts, ch 125, §80, 109C2001, § 633.4602 2005 Acts, ch 38, §54CS2005, § 633A.4602