Connecticut General Statutes 45a-500g – 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 (1) of subsection (b) of section 45a-500f regarding:
Terms Used In Connecticut General Statutes 45a-500g
- Power of direction: includes a power over the investment, management or distribution of trust property or other matters of trust administration, but does not include the powers described in subsection (b) of section 45a-500e. See Connecticut General Statutes 45a-499c
- Terms of a trust: means :
(A) Except as otherwise provided in subparagraph (B) of this subdivision, the manifestation of the settlor's intent regarding a trust's provisions as:
(i) Expressed in the trust instrument. See Connecticut General Statutes 45a-499c
- Trust director: means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee, provided a person is a trust director whether or not the terms of the trust refer to the person as a trust director and whether or not the person is a beneficiary or settlor of the trust. See Connecticut General Statutes 45a-499c
(1) A payback provision in the terms of a trust necessary to comply with the reimbursement requirements of 42 USC 1396p(d)(4)(A), as amended from time to time; and
(2) A charitable interest in the trust, including notice regarding the interest to the Attorney General.