1. A cotrustee who does not join in exercising a power is not liable to a third party for the consequences of the exercise of the power.
2. A dissenting cotrustee who joins in an action at the direction of the majority cotrustees is not liable to a third party for the action if the dissenting cotrustee expresses the dissent in writing to any other cotrustee at or before the action is taken.
3. This section does not excuse a cotrustee from liability for failure to discharge a cotrustee's duties as a trustee.
99 Acts, ch 125, §80, 109
Section effective July 1, 2000; 99 Acts, ch 125, §109
Previous Section 633.4601
Next Section 633.4603
© 2001 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Mon Jan 22 17:13:42 CST 2001
URL: /DOCS/IACODE/2001/633/4602.html
jhf