1. In addition to the methods specified in sections 633.2202 through 633.2206, a trust terminates when any of the following occurs:
a. The term of the trust expires.
b. The trust purpose is fulfilled.
c. The trust purpose becomes unlawful or impossible to fulfill.
d. The trust is revoked.
2. On termination of a trust, the trustee may exercise the powers necessary to wind up the affairs of the trust and distribute the trust property to those entitled to the trust property.
3. For purposes of sections 633.2202 through 633.2206, a beneficiary is limited to a person that is an eligible recipient of income or principal, or would receive principal or income from the trust if it were terminated.
99 Acts, ch 125, § 15, 109; 2000 Acts, ch 1150, §9
Section effective July 1, 2000; 99 Acts, ch 125, § 109
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