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 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.)
Vermont Legal Code