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Code · Iowa · Chapter 633 — Probate Code

633.124 Investment may be held in name of nominee of bank or trust company.

101 words·~1 min read·/ia/chapter-633-probate-code/633-124

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Any state or national bank or trust company, when acting with the consent of its cofiduciary, if any, may cause any investment held in any such capacity to be registered and held in the name of a nominee or nominees of such bank or trust company. Such cofiduciary is hereby empowered to give such consent unless it is specifically forbidden in the instrument creating the fiduciary relationship. Such bank or trust company shall be liable for the acts of any such nominee with respect to any investment so registered.
[C66, 71, 73, 75, 77, 79, 81, §633.124]
Referred to in §633.642
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