637.604 Interested trustee’s authority to convert. If there is no trustee of the trust other than an interested trustee, the interested trustee or, where two or more persons are acting as trustee and are interested trustees, a majority ofsuch interested trustees may, in the trustee’s sole discretion and without the approval of thecourt, do any of the following subject to the requirements of section 637.605: 1. Convert an income trust to a total return unitrust.2. Reconvert a total return unitrust to an income trust.3. Change the method used to determine the fair market value of the trust.2002 Acts, ch 1086, §8, 21Referred to in §637.605, 637.606, 637.613 Sat Dec 23 12:19:23 2023 Iowa Code 2024, Section 637.604 (16, 0)
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