Montana Statutes
§ 72-40-111 — Limitations On Trust Director
Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 40 UNIFORM DIRECTED TRUST ACT·Part 1 General Provisions
72-40-111 . 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 72-40-110 (2)(a) 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. 1396p(d)(4)(A), as amended, and regulations issued under it, as amended; and
(2)a charitable interest in the trust, including notice regarding the interest to the attorney general.
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Related
§ 1396p
42 U.S.C. § 1396p
Legislative History
En. Sec. 7, Ch. 325, L. 2021.
Nearby Sections
15
§ 72-40-101
Short Title§ 72-40-102
Definitions§ 72-40-104
Common Law And Principles Of Equity§ 72-40-105
Exclusions§ 72-40-106
Through 72-40-109 Reserved§ 72-40-110
Powers Of Trust Director§ 72-40-111
Limitations On Trust Director§ 72-40-112
Duty And Liability Of Trust Director§ 72-40-113
Duty And Liability Of Directed Trustee§ 72-40-115
No Duty To Monitor, Inform, Or Advise§ 72-40-116
Application To Cotrustee§ 72-40-117
Limitation Of Action Against Trust Director§ 72-40-118
Defenses In Action Against Trust Director