633A.6302 Representation by holders of powers.
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/ia/chapter-633a-iowa-trust-code/633a-6302·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. The holders or all coholders of a power of revocation or presently exercisable general power of appointment, including one in the form of a power of amendment, may represent and bind the persons whose interests, as objects, takers in default, or otherwise, are subject to the power.
2. To the extent there is no conflict of interest between the holders and the persons represented with respect to the fiduciary matter, persons whose interests are subject to a general testamentary power of appointment may be represented and bound by the holder or holders of the power.
3. To the extent there is no conflict of interest with respect to the fiduciary matter, the person or persons holding a limited power of appointment and the taker or takers in default of the exercise of such power may together represent and bind persons whose interests are dependent on the affirmative exercise of such power of appointment by the holder or holders of the power.
99 Acts, ch 125, §97, 109
C2001, §633.6302
CS2005, §633A.6302
Referred to in §633A.6305