518.11 – Investments by Fiduciaries; Prudent Investor Rule.
518.11 Investments by fiduciaries; prudent investor rule.— (1) A fiduciary has a duty to invest and manage investment assets as follows: (a) The fiduciary has a duty to invest and manage investment assets as a prudent investor would considering the purposes, terms, distribution requirements, and other circumstances of the trust. This standard requires the exercise of reasonable care […]
518.112 – Delegation of Investment Functions.
518.112 Delegation of investment functions.— (1) A fiduciary may delegate any part or all of the investment functions, with regard to acts constituting investment functions that a prudent investor of comparable skills might delegate under the circumstances, to an investment agent as provided in subsection (3), if the fiduciary exercises reasonable care, judgment, and caution in selecting […]
518.115 – Power of Fiduciary or Custodian to Deposit Securities in a Central Depository.
518.115 Power of fiduciary or custodian to deposit securities in a central depository.— (1)(a) Notwithstanding any other provision of law, any fiduciary, as defined in s. 518.10, holding securities, as defined in 1s. 678.102(1), in its fiduciary capacity, and any bank or trust company holding securities as a custodian, managing agent, or custodian for a fiduciary, is […]
518.116 – Power of Certain Fiduciaries and Custodians to Deposit United States Government and Agency Securities With a Federal Reserve Bank.
518.116 Power of certain fiduciaries and custodians to deposit United States Government and agency securities with a Federal Reserve bank.— (1)(a) Notwithstanding any other provision of law, any fiduciary, as defined in s. 518.10, which is a bank or trust company holding securities in its fiduciary capacity, and any bank or trust company holding securities as a […]
517.311 – False Representations; Deceptive Words; Enforcement.
517.311 False representations; deceptive words; enforcement.— (1) It is unlawful for any person in issuing or selling any security within the state, including any security exempted under the provisions of s. 517.051 and including any transaction exempted under the provisions of s. 517.061, to misrepresent that such security or company has been guaranteed, sponsored, recommended, or approved […]
518.117 – Permissible Investments of Fiduciary Funds.
518.117 Permissible investments of fiduciary funds.—A fiduciary that is authorized by lawful authority to engage in trust business as defined in s. 658.12 may invest fiduciary funds in accordance with s. 660.417 so long as the investment otherwise complies with this chapter. History.—s. 15, ch. 2006-217; s. 3, ch. 2022-178.
517.312 – Securities, Investments, Boiler Rooms; Prohibited Practices; Remedies.
517.312 Securities, investments, boiler rooms; prohibited practices; remedies.— (1) It is unlawful and a violation of this chapter for any person: (a) To offer or sell, in this state or from this state, any security or investment when such offer or sale is in violation of s. 517.301 or s. 517.311; or (b) To directly or indirectly manage, supervise, […]
518.12 – Instrument Creating or Defining Powers, Duties of Fiduciary Not Affected.
518.12 Instrument creating or defining powers, duties of fiduciary not affected.—Nothing contained in ss. 518.10-518.14 shall be construed as conferring a power of sale upon any fiduciary not possessing such power or as authorizing any departure from, or variation of, the express terms or limitations set forth in any will, agreement, court order, or other instrument […]
517.313 – Destroying Certain Records; Reproduction.
517.313 Destroying certain records; reproduction.— (1) The commission and office may photograph, microphotograph, or reproduce on film or prints documents, records, data, and information of a permanent character. (2) The commission and office may destroy any of said documents after audit has been completed for the period embracing the dates of said instruments, after complying with the provisions […]
518.13 – Authority of Court to Permit Deviation From Terms of Instrument Creating Trust Not Affected.
518.13 Authority of court to permit deviation from terms of instrument creating trust not affected.—Nothing contained in ss. 518.10-518.14 shall be construed as restricting the power of a court of proper jurisdiction to permit a fiduciary to deviate from the terms of any will, agreement, or other instrument relating to the acquisition, investment, reinvestment, exchange, retention, […]