633A.4201 - DUTY TO ADMINISTER TRUST -- ALTERATION BY TERMS OF TRUST. - Iowa Statutes

633A.4201 DUTY TO ADMINISTER TRUST -- ALTERATION BY TERMS OF TRUST. 1. On acceptance of a trust, the trustee shall administer the trust according to the terms of the trust and according to this trust code, except to the extent the terms of the trust provide otherwise. 2. The terms of the trust may expand, restrict, eliminate, or otherwise alter the duties prescribed by this trust code, and the trustee may reasonably rely on those terms, but nothing in this trust code authorizes a trustee to act in bad faith or in disregard of the purposes of the trust or the interest of the beneficiaries.          Section History: Recent Form 99 Acts, ch 125, §47, 109 C2001, §633.4201 2005 Acts, ch 38, §54 CS2005, §633A.4201