Iowa Code 507C.46 – Termination of proceedings
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Terms Used In Iowa Code 507C.46
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
507C.46 Termination of proceedings.
1. When all assets justifying the expense of collection and distribution have been collected
and distributed under this chapter, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer remaining funds that are uneconomical to distribute, as appropriate.
2. Any other person may apply to the court at any time for an order under subsection 1. If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application including a reasonable attorney fee.
84 Acts, ch 1175, §46; 92 Acts, ch 1117, §31
1. When all assets justifying the expense of collection and distribution have been collected
and distributed under this chapter, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer remaining funds that are uneconomical to distribute, as appropriate.
2. Any other person may apply to the court at any time for an order under subsection 1. If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application including a reasonable attorney fee.
84 Acts, ch 1175, §46; 92 Acts, ch 1117, §31