(1) Each trust company and trust department shall maintain its fiduciary books and records separate and distinct from other records of the trust company or of the bank or association of which the trust department is a part and shall segregate all assets held in any fiduciary capacity from the general or other assets of the trust company or of the bank or association of which the trust department is a part.
(2) No assets received or held in a fiduciary capacity by any trust company or trust department shall be liable for the debts or the obligations of the trust company or of the bank or association of which the trust department is a part.
History.—s. 3, ch. 28016, 1953; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 127, 151, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; s. 1, ch. 92-303.
Note.—Former s. 660.03.
Structure Florida Statutes
Title XXXVIII - Banks and Banking
660.26 - Trust Department Licensing.
660.27 - Deposit of Securities With Chief Financial Officer.
660.28 - Exemption From Bond and Other Security as Fiduciary.
660.29 - Use of Personnel and Facilities.
660.30 - Segregation of Books, Records, and Assets; Fiduciary Assets Not Liable.
660.31 - General Trust Business by Trust Companies and Departments.
660.33 - Trust Service Offices.
660.35 - Oaths, Affidavits, and Acknowledgments.
660.36 - Fiduciary Agency Contracts.
660.37 - Security for Deposit of Fiduciary Funds.
660.38 - Loans by and to Fiduciary Accounts.
660.39 - Sales Between Fiduciary Accounts.
660.41 - Corporations; Certain Fiduciary Functions Prohibited.
660.415 - Investment by Trust Companies, Trust Departments, Trustees, and Fiduciaries.
660.418 - Investment of Fiduciary Funds in Syndicate Securities.
660.42 - Establishment of Common Trust Funds.
660.43 - Common Trust Fund Investments.
660.431 - Prudent Investor Rule.
660.44 - Common Trust Fund to Be Audited Annually.
660.45 - Common Trust Fund Court Accountings.
660.46 - Substitution of Fiduciaries.