Oklahoma § 60-1207 Power of direction — Situations in which trust director

Oklahoma Statutes

§ 60-1207 — Power of direction — Situations in which trust director

Oklahoma·Title 60 Property

subject to rules as trustee. 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 paragraph 1 of subsection B of Section 7 of this act 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 regulations issued thereunder, as amended; and 2. A charitable interest in the trust, including providing notice regarding the interest to the Attorney General.

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subject to rules as trustee. 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 paragraph 1 of subsection B of Section 7 of this act 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 regulations issued thereunder, as amended; and 2. A charitable interest in the trust, including providing notice regarding the interest to the Attorney General.

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