633A.2105 - HONORARY TRUSTS -- TRUSTS FOR PETS.
633A.2105 HONORARY TRUSTS -- TRUSTS FOR PETS. 1. A trust for a lawful noncharitable purpose for which there is no definite or definitely ascertainable beneficiary is valid but may be performed by the trustee for only twenty-one years, whether or not the terms of the trust contemplate a longer duration. 2. A trust for the care of an animal living at the settlor's death is valid. The trust terminates when no living animal is covered by its terms. 3. A portion of the property of a trust authorized by this section shall not be converted to any use other than its intended use unless the terms of the trust so provide or the court determines that the value of the trust property substantially exceeds the amount required. 4. The intended use of a trust authorized by this section may be enforced by a person designated for that purpose in the terms of the trust or, if none, by a person appointed by the court.
Section History: Recent Form 99 Acts, ch 125, §12, 109 C2001, §633.2105 2005 Acts, ch 38, §54 CS2005, §633A.2105