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

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Terms Used In Indiana Code 30-4-9-7

  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • Power of direction: means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. See Indiana Code 30-4-9-2
  • Terms of a trust: means :

    Indiana Code 30-4-9-2

  • 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. See Indiana Code 30-4-9-2
(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.

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