Iowa Code § 636.2

Payee
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Such security, when not otherwise directed, may, iffor the benefit of individuals, be given to the party intended to be secured thereby; if in relation to the public matters concerning the inhabitants of one county or part of a county, itmay be made payable to the county; if §636.2, SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS 2 concerning the inhabitants of more than one county, it may be made payable to the state, but a mere mistake in these respects will not vitiate the security. C93, §636.2

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