Va. Code § 64.2-779.30

Current with changes from the 2024 legislative session through ch. 845

Section 64.2-779.30 - 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 subdivision B 1 of § 64.2-779.29 regarding:

1. A payback provision in the terms of a trust necessary to comply with the reimbursement requirements of Medicaid law in § 1917 of the Social Security Act, 42 U.S.C. § 1396p(d)(4)(A), as amended; and

2. A charitable interest in the trust, including notice regarding the interest to the Attorney General.

Va. Code § 64.2-779.30

2020, c. 768.

Added by Acts 2020 c. 768, § 1, eff. 7/1/2020.