72-40-111. 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 72-40-110(2)(a) regarding:

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(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), as amended, and regulations issued under it, as amended; and

(2)a charitable interest in the trust, including notice regarding the interest to the attorney general.