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Current as of January 01, 2024 | Updated by FindLaw Staff
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 Paragraph (1) of Subsection B of Section 6 of the Uniform Directed Trust Act regarding:
A. a payback provision in the terms of the trust necessary to comply with the reimbursement requirements of medicaid law in Section 1917 of the Social Security Act, 42 U.S.C. Section 1396p(d)(4)(A), as amended, and regulations issued thereunder, as amended; and
B. a charitable interest in the trust, including notice regarding the interest to the attorney general.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 46. Fiduciaries and Trusts § 46-14-7. Limitations on trust director - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-46-fiduciaries-and-trusts/nm-st-sect-46-14-7/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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