633C.4 Other powers of trustees. 1. Sections 633C.2 and 633C.3 shall not be construed to limit the authority of the trustees to invest, sell, or otherwise manage property held in trust. 2. The trustee of a medical assistance income trust or a medical assistance special needs trust is a fiduciary for purposes of chapter 633A and, in the exercise of the trustee’s fiduciaryduties, the state shall be considered a beneficiary of the trust. Regardless of the terms of thetrust, the trustee shall not take any action that is not prudent in light of the state’s interestin the trust. Notwithstanding any provision of chapter 633A to the contrary, the trustee of amedical assistance special needs trust shall be subject to the jurisdiction of the district courtsitting in probate and shall submit an accounting of the disposition of the trust to the districtcourt sitting in probate on an annual basis. 94 Acts, ch 1120, §6C2005, §633.7102005 Acts, ch 38, §53, 55CS2005, §633C.42006 Acts, ch 1030, §78; 2015 Acts, ch 137, §120, 162, 163 Sat Dec 23 12:17:10 2023 Iowa Code 2024, Section 633C.4 (18, 0)
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