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 § 28-76-106(b)(1) 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
(2) a charitable interest in the trust, including notice regarding the interest to the Attorney General.
Structure Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 5 - Fiduciary Relationships
Chapter 76 - Uniform Directed Trust Act [Effective January 1, 2020]
§ 28-76-101. Title. [Effective January 1, 2020.]
§ 28-76-102. Definitions. [Effective January 1, 2020.]
§ 28-76-103. Application — Principal place of administration. [Effective January 1, 2020.]
§ 28-76-104. Common law and principles of equity. [Effective January 1, 2020.]
§ 28-76-105. Exclusions. [Effective January 1, 2020.]
§ 28-76-106. Powers of trust director. [Effective January 1, 2020.]
§ 28-76-107. Limitations on trust director. [Effective January 1, 2020.]
§ 28-76-108. Duty and liability of trust director. [Effective January 1, 2020.]
§ 28-76-109. Duty and liability of directed trustee. [Effective January 1, 2020.]
§ 28-76-110. Duty to provide information to trust director or trustee. [Effective January 1, 2020.]
§ 28-76-111. No duty to monitor, inform, or advise. [Effective January 1, 2020.]
§ 28-76-112. Application to trustee. [Effective January 1, 2020.]
§ 28-76-113. Limitation of action against trust director. [Effective January 1, 2020.]
§ 28-76-114. Defenses in action against trust director. [Effective January 1, 2020.]
§ 28-76-115. Jurisdiction over trust director. [Effective January 1, 2020.]
§ 28-76-116. Office of trust director. [Effective January 1, 2020.]
§ 28-76-117. Uniformity of application and construction. [Effective January 1, 2020.]