663.538 – Suspension, revocation, or voluntary surrender of qualification.
663.538 Suspension, revocation, or voluntary surrender of qualification.— (1) A qualified limited service affiliate that proposes to terminate operations in this state shall surrender its qualification to the office and comply with such procedures as required by rule of the commission. (2) A qualified limited service affiliate that fails to renew its qualification may be subject to a […]
663.539 – Biennial qualification renewal.
663.539 Biennial qualification renewal.—A qualification must be renewed every 2 years. A qualification must be renewed by furnishing such information as the commission requires. A complete biennial renewal of qualification must include a declaration under penalty of perjury, signed by the executive officer or managing member of the qualified limited service affiliate seeking renewal, declaring that […]
663.540 – Public records exemption.
663.540 Public records exemption.— (1) DEFINITIONS.—As used in this section, the term: (a) “Reports of examinations, operations, or condition” means records submitted to or prepared by the office as part of the office’s duties performed pursuant to s. 655.012 or s. 663.537. (b) “Working papers” means the records of the procedure followed, the tests performed, the information obtained, and […]
663.4001 – Purpose.
663.4001 Purpose.—The purpose of this part is to establish a legal and regulatory framework for the conduct by international trust entities of financial services business in this state. This part is intended to: (1) Support the Florida operations of international trust entities and promote the growth of international financial services to benefit the economy and consumers in […]
663.415 – Travel expenses.
663.415 Travel expenses.—If domestic or foreign travel is deemed necessary by the office to effectuate the purposes of this part, the office must be reimbursed for actual, reasonable, and necessary expenses incurred in such domestic or foreign travel by the international trust company representative office under examination. History.—s. 37, ch. 2017-83.
663.401 – Definitions.
663.401 Definitions.— (1) “Affiliate” means a person or business or a group of persons or businesses acting in concert which controls, is controlled by, or is under common control of an international trust entity. (2) “International trust company representative office” means an office of an international trust entity which is established or maintained in this state for the […]
663.402 – Applicability of the financial institutions codes.
663.402 Applicability of the financial institutions codes.— (1) An international trust entity that operates an office licensed under this part is subject to all the financial institutions codes as though such international trust entity were a state trust company, except when it appears, from the context or otherwise, that such provisions are clearly applicable only to trust […]
663.403 – Applicability of the Florida Business Corporation Act.
663.403 Applicability of the Florida Business Corporation Act.—Notwithstanding s. 607.01401(36), the provisions of part I of chapter 607 which are not in conflict with the financial institutions codes and which relate to foreign corporations apply to all international trust entities and their offices doing business in this state. History.—s. 24, ch. 2017-83; s. 292, ch. 2019-90.
663.404 – Requirements for conducting financial institution business.
663.404 Requirements for conducting financial institution business.—An international trust entity, or any affiliated, subsidiary, or other person or business entity acting as an agent for, on behalf of, or for the benefit of such international trust entity, who engages in such activities from an office located in this state, may not transact a trust business, or […]
663.405 – Civil action subpoena enforcement.
663.405 Civil action subpoena enforcement.— (1) Notwithstanding s. 655.059, an international trust company representative office established under this chapter is not required to produce a book or record pertaining to a deposit account, investment account, trust account, or loan of a customer of the international trust entity’s offices that are located outside the United States or its […]