Kan. Stat. § 58-5007

Current through 2024 Session Acts Chapter 111 and 2024 Special Session Acts Chapter 4

Section 58-5007 - 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 K.S.A. 2023 Supp. 58-5006(b)(1), and amendments thereto, regarding:

(a) 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 in effect on July 1, 2022; and

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

K.S.A. 58-5007

Added by L. 2022, ch. 16,§ 7, eff. 7/1/2022.