637.614 - GOOD FAITH ACTIONS. - Iowa Statutes

637.614 GOOD FAITH ACTIONS. Any trustee or disinterested person who in good faith takes or fails to take any action under this subchapter shall not be liable to any person affected by such action or inaction, regardless of whether such person received written notice as provided in this subchapter and regardless of whether such person was under a legal disability at the time of the delivery of such notice. Such person's exclusive remedy shall be to obtain an order of the court directing the trustee to convert an income trust to a total return unitrust, or to reconvert a total return unitrust to an income trust.          Section History: Recent Form 2002 Acts, ch 1086, §18, 21 Referred to in § 637.613