(1) 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 regarding:(a) A payback provision in the terms of the trust necessary for compliance with the reimbursement requirements of medicaid law in section 1917 of the federal 'Social Security Act', 42 U.S.C. sec. 1396p(d)(4)(A), as amended, and regulations issued thereunder, as amended; and(b) A charitable interest in the trust, including notice regarding the interest to the attorney general.Added by 2019 Ch. 51,§ 1, eff. 8/2/2019.L. 2019: Entire part R & RE, (SB 19-105), ch. 169, p. 169, § 1, effective August 2.
Colorado Legal Code