633F.4 Form and effect of receipt and acceptance by custodial trustee — jurisdiction. 1. Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this chapter upon the custodial trustee’s acceptance, express orimplied, of the custodial trust property. 2. The custodial trustee’s acceptance may be evidenced by a writing stating in substance: CUSTODIAL TRUSTEE’S RECEIPT AND ACCEPTANCEI, _______ (name of custodial trustee) acknowledge receipt of the custodial trust property described below or in the attachedinstrument and accept the custodial trust as custodial trustee for__________________ (name of beneficiary) under the Iowa UniformCustodial Trust Act. I undertake to administer and distribute thecustodial trust property pursuant to the Iowa Uniform CustodialTrust Act. My obligations as custodial trustee are subject to thedirections of the beneficiary unless the beneficiary is designated as,is, or becomes incapacitated. The custodial trust property consistsof _____________________________. Dated: _____________________________ Signed: _____________________________(signature of custodial trustee) 3. mes incapacitated. The custodial trust property consistsof _____________________________. Dated: _____________________________ Signed: _____________________________(signature of custodial trustee) 3. Upon accepting custodial trust property, a person designated as custodial trustee under this chapter is subject to personal jurisdiction of the court with respect to any matter relatingto the custodial trust. 2021 Acts, ch 8, §4; 2021 Acts, ch 174, §27 Sat Dec 23 12:17:48 2023 Iowa Code 2024, Section 633F.4 (5, 0)
Iowa Legal Code