662.135 – Service as Court-Appointed Fiduciary; Bond Requirement.
662.135 Service as court-appointed fiduciary; bond requirement.—A licensed family trust company is not required to provide or otherwise post a bond or other surety to serve as a court-appointed fiduciary in a proceeding brought or conducted in this state. History.—s. 26, ch. 2014-97.
662.1215 – Investigation of License Applicants.
662.1215 Investigation of license applicants.— (1) For the purpose of this section, the application is not deemed to be filed until the applicant has provided the office with all information required to be included pursuant to s. 662.121. (2) Upon filing an application for a license to operate as a licensed family trust company, the office shall conduct […]
662.140 – Rules.
662.140 Rules.—The commission may adopt rules necessary to carry out the purposes of this chapter. History.—s. 27, ch. 2014-97.
662.122 – Registration of a Family Trust Company or a Foreign Licensed Family Trust Company.
662.122 Registration of a family trust company or a foreign licensed family trust company.— (1) A family trust company that is not applying under s. 662.121 to become a licensed family trust company must register with the office before beginning operations in this state. The registration application must: (a) Provide the name of the designated relative. (b) State that […]
662.141 – Examination, Investigations, and Fees.
662.141 Examination, investigations, and fees.—The office may conduct an examination or investigation of a licensed family trust company at any time it deems necessary to determine whether the licensed family trust company or licensed family trust company-affiliated party thereof has violated or is about to violate any provision of this chapter, any applicable provision of the […]
662.1225 – Requirements for a Family Trust Company, Licensed Family Trust Company, or Foreign Licensed Family Trust Company.
662.1225 Requirements for a family trust company, licensed family trust company, or foreign licensed family trust company.— (1) A family trust company or a licensed family trust company shall maintain: (a) A principal office physically located in this state where original or true copies of all records and accounts of the family trust company or licensed family trust […]
662.142 – Revocation of License.
662.142 Revocation of license.— (1) Any of the following acts constitute grounds for the revocation by the office of the license of a licensed family trust company: (a) The company is not a family trust company as defined in this chapter. (b) A violation of s. 662.1225, s. 662.123(1)(a), s. 662.125(2), s. 662.126, s. 662.127, s. 662.128, s. 662.130, […]
662.123 – Organizational Documents; Use of Term “Family Trust” in Name.
662.123 Organizational documents; use of term “family trust” in name.— (1) The articles of incorporation, certificate of incorporation, or articles of organization of a family trust company or licensed family trust company must contain: (a) The name adopted by the company, which must distinguish the company from any other trust company formed in this state or engaged in […]
662.124 – Minimum Capital Account Required.
662.124 Minimum capital account required.— (1) A licensed family trust company that has one designated relative may not be organized or operated with an owners’ capital account of less than $250,000. The minimum capital account shall be increased to $350,000 if two designated relatives of the licensed family trust company are named in the application for a […]
662.125 – Directors or Managers.
662.125 Directors or managers.— (1) Exclusive authority to manage a family trust company or licensed family trust company is vested in a board of directors, if a corporation, or a board of directors or managers, if a limited liability company. (2) A family trust company or licensed family trust company shall have at least three directors, if a […]