633A.4107 Removal of trustee.
203 words·~1 min read·
/ia/chapter-633a-iowa-trust-code/633a-4107·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. A trustee may be removed in accordance with the terms of the trust, or on petition of a settlor, cotrustee, or beneficiary under section 633A.6202.
2. The court may remove a trustee, or order other appropriate relief if any of the following occurs:
a. If the trustee has committed a material breach of the trust.
b. If the trustee is unfit to administer the trust.
c. If hostility or lack of cooperation among cotrustees impairs the administration of the trust.
d. If the trustee’s investment performance is consistently and substantially substandard.
e. If the trustee’s compensation is excessive under the circumstances.
f. If the trustee merges with another institution or the location or place of administration of the trust changes.
g. For other good cause shown.
3. If it appears to the court that trust property or the interests of a beneficiary may suffer loss or injury pending a final decision on a petition for removal of a trustee, the court may suspend the powers of the trustee, compel the trustee to surrender trust property to a cotrustee, receiver, or temporary trustee, or order other appropriate relief.
C2001, §633.4107
2003 Acts, ch 95, §13; 2005 Acts, ch 38, §54, 55
CS2005, §633A.4107