{"data":{"id":"us-ia/iowa-code-637.604","jurisdiction":"us-ia","citation":"Iowa Code § 637.604","heading":"Interested trustee’s authority to convert.","body":"If there is no trustee of the trust other than an interested trustee, the interested trustee or, where two or more persons are acting as trustee and are interested trustees, a majority of such interested trustees may, in the trustee’s sole discretion and without the approval of the court, do any of the following subject to the requirements of section 637.605:\n1. Convert an income trust to a total return unitrust.\n2. Reconvert a total return unitrust to an income trust.\n3. Change the method used to determine the fair market value of the trust.","path":["Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES (Ch. 595 - 686D)","Chapter 637 - UNIFORM PRINCIPAL AND INCOME ACT","Subchapter VI - TOTAL RETURN UNITRUSTS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/637.604.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:16Z","sha256":"ce93c8b068a9cd878d1db0ba6afcc9bbf8ab26c0b320fba9a3031b6bb7721f85","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-637.603","next":"us-ia/iowa-code-637.605"},"notice":"GroundRules: Original legal text. Not legal advice."}