Limitations on trust director

A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under § 28-76-106(b)(1) regarding: (1) a payback provision in the terms of a trust necessary to comply with the reimbursement requirements of Medicaid law in Section 1917 of the Social Security Act, 42 U.S.C. Section 1396p(d)(4)(A) , as amended; and (2) a charitable interest in the trust, including notice regarding the interest to the Attorney General. Added by Act 2019, No. 1021,§ 5, eff. 1/1/2020. A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under § 28-76-106(b)(1) regarding: (1) a payback provision in the terms of a trust necessary to comply with the reimbursement requirements of Medicaid law in Section 1917 of the Social Security Act, 42 U.S.C. Section 1396p(d)(4)(A) , as amended; and (2) a charitable interest in the trust, including notice regarding the interest to the Attorney General. Added by Act 2019, No. 1021,§ 5, eff. 1/1/2020.