(1) A foreign family trust company lawfully organized and currently in good standing with the state regulatory agency in the jurisdiction where it is organized may become domesticated in this state by:
(a) Filing with the Department of State articles of domestication and articles of incorporation in accordance with and subject to s. 607.11922 or by filing articles of conversion in accordance with s. 605.1045 or s. 607.11933; and
(b) Filing an application for a license to begin operations as a licensed family trust company in accordance with s. 662.121, which must first be approved by the office, or by filing the prescribed form with the office to register as a family trust company to begin operations in accordance with s. 662.122.
(2) A foreign family trust company may apply pursuant to paragraph (1)(b) before satisfying the requirements of paragraph (1)(a); however, upon receipt of a certificate of authority, the company must satisfy the requirements of paragraph (1)(a) before beginning operations.
History.—s. 35, ch. 2014-97; s. 16, ch. 2016-35; s. 285, ch. 2019-90.
Structure Florida Statutes
Title XXXVIII - Banks and Banking
Chapter 662 - Family Trust Companies
662.113 - Applicability of Other Chapters of the Financial Institutions Codes.
662.114 - Family Trust Company and Foreign Licensed Family Trust Company Licensing Not Required.
662.120 - Maximum Number of Designated Relatives.
662.121 - Application for Licensed Family Trust Company; Fees.
662.1215 - Investigation of License Applicants.
662.122 - Registration of a Family Trust Company or a Foreign Licensed Family Trust Company.
662.123 - Organizational Documents; Use of Term “Family Trust” in Name.
662.124 - Minimum Capital Account Required.
662.125 - Directors or Managers.
662.126 - Fidelity Bonds; Insurance.
662.127 - Segregation of Books, Records, and Assets; Fiduciary Assets Not Liable.
662.129 - Discontinuing Business.
662.133 - Oaths, Affidavits, and Acknowledgments.
662.134 - Unlawful to Advertise Services.
662.135 - Service as Court-Appointed Fiduciary; Bond Requirement.
662.141 - Examination, Investigations, and Fees.
662.142 - Revocation of License.
662.143 - Cease and Desist Authority.
662.144 - Failure to Submit Required Report; Fines.
662.145 - Grounds for Removal.
662.146 - Confidentiality of Books and Records.
662.1465 - Family Trust Company Proceedings; Public Records Exemption.
662.147 - Records Relating to the Office Examination; Limited Restrictions on Public Access.
662.148 - Public Records Exemption.
662.150 - Domestication of a Foreign Family Trust Company.
662.151 - Registration of a Foreign Licensed Family Trust Company to Operate in This State.