633A.4706 - SMALL DISTRIBUTIONS TO MINORS -- PAYMENT. - Iowa Statutes

633A.4706 SMALL DISTRIBUTIONS TO MINORS -- PAYMENT. When a minor becomes entitled under the terms of the trust to a beneficial interest in the trust upon the distribution of the trust fund and the value of the interest does not exceed the sum of twenty-five thousand dollars, the trustee may pay the interest to a custodian under any uniform transfers to minors Act.{ Receipt by the custodian shall have the same force and effect as though payment had been made to a duly appointed and qualified conservator for the minor.          Section History: Recent Form 2005 Acts, ch 38, §47 {Uniform transfers to minors, see chapter 565B