633.128 Court accountings. 1. Unless ordered by a court of competent jurisdiction, the bank or trust company operating such common trust funds is not required to render a court accounting with regardto such funds; but it may, by application to the court, secure approval of such an accountingon such conditions as the court may establish. 2. When an accounting of a common trust fund is presented to a court for approval, the court shall assign a time and place for hearing, and order notice thereof by all of the following: a. Publication once each week for three consecutive weeks in a newspaper of general circulation, published in the county in which the bank or trust company operating thecommon trust fund is located, the first publication to be not less than twenty days prior tothe date of hearing. b. Sending by ordinary mail not less than fourteen days prior to the date of hearing, a copy of the notice prescribed to all beneficiaries of the trust participating in the commontrust fund whose names are known to the bank or trust company from the records kept by itin the regular course of business in the administration of said trusts, directed to them at theaddresses shown by such nd whose names are known to the bank or trust company from the records kept by itin the regular course of business in the administration of said trusts, directed to them at theaddresses shown by such records. c. Such further notice, if any, as the court may order.[C58, §532.21; C62, §532.21, 533A.1 – 533A.5; C66, 71, 73, 75, 77, 79, 81, §633.128]2013 Acts, ch 90, §176Referred to in §633.126, 633.129 Sat Dec 23 11:23:41 2023 Iowa Code 2024, Section 633.128 (35, 0)
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