Iowa Code § 565.7

Trustees appointed by court — bond
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When madefor the establishing of institutions of learning or benevolence, and no provision ismade in the gift or bequest for the execution of the trust, the judge of the district court having charge ofthe probate proceedings in the county shall appoint three trustees, residents of said county, who shall have charge and control of the same, and who shall continue to act until removed by the court. They shall give bond as required in case of executors, and be subject to the orders of said court.

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