523I.507 Investment of care funds by governmental subdivisions. Notwithstanding section 12B.10, a perpetual care cemetery owned by a governmental subdivision may invest and reinvest deposits pursuant to the requirements of this chapter.The trustee shall use the judgment and care under the circumstances then prevailing thatpersons of prudence, discretion, and intelligence exercise in the management of their ownaffairs, not in regard to speculation but in regard to the permanent disposition of theirfunds, considering the probable income as well as the probable safety of their capital. Thetrustee of the trust funds has a fiduciary duty to make reasonable investment decisions andto properly oversee and manage the funds entrusted to the trust fund. 2005 Acts, ch 128, §47 Sat Dec 23 01:07:11 2023 Iowa Code 2024, Section 523I.507 (18, 0)
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