Florida Statutes 736.1407 – Limitations on trust director
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 736.1407
- Trustee: A person or institution holding and administering property in trust.
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 s. 736.1406(3)(a), relating to additional power granted to a trust director in furtherance of an express power of direction, regarding:
(1) A payback provision in the terms of a trust necessary to comply with the reimbursement requirements of s. 1917 of the Social Security Act, 42 U.S.C. § 1396p(d)(4)(A), as amended, and regulations issued thereunder, as amended.
(2) A charitable interest in the trust, including notice regarding the interest to the Attorney General.