Sec. 7. 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 section 6(b)(1) of this chapter regarding:
(1) a payback provision in the terms of a trust necessary to comply with the reimbursement requirements under 42 U.S.C. 1396p(d)(4)(A); or
(2) a charitable interest in the trust, including notice regarding the interest to the attorney general under IC 30-4-6-6.
As added by P.L.221-2019, SEC.10.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 9. Uniform Directed Trust Act
30-4-9-5. Powers of Appointment
30-4-9-7. Rules Relating to Payback Provisions; Charitable Interest
30-4-9-8. Duties and Liabilities of a Trust Director
30-4-9-9. Duties and Liabilities of a Directed Trustee
30-4-9-10. Providing Information to a Trust Director; Liability; Breach of Trust
30-4-9-11. Duties of Trust Director and Trustee Under the Terms of the Trust
30-4-9-12. Relief of Cotrustee From Duties and Liabilities
30-4-9-13. Causes of Action; Statutes of Limitations
30-4-9-14. Causes of Action; Defenses