Vermont § 1307 Limitations on trust director

Vermont Statutes

§ 1307 — Limitations on trust director

Vermont·Title 14A Title 14A: Trusts·Ch. 13 Chapter 013: Uniform Directed Trust Act

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 subdivision 1306(b)(1) of this title 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), and regulations issued thereunder; and

(2)a charitable interest in the trust, including notice regarding the interest to the Attorney General. (Added 2023, No. 104 (Adj. Sess.), § 1, eff. May 13, 2024.)

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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 subdivision 1306(b)(1) of this title 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), and regulations issued thereunder; and
(2) a charitable interest in the trust, including notice regarding the interest to the Attorney General. (Added 2023, No. 104 (Adj. Sess.), § 1, eff. May 13, 2024.)

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