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The Florida Senate

2014 Florida Statutes

SECTION 1225
Requirements for a family trust company, licensed family trust company, and foreign licensed family trust company.
F.S. 662.1225
1662.1225 Requirements for a family trust company, licensed family trust company, and foreign licensed family trust company.
(1) A family trust company and 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 company may be accessed and made readily available for examination by the office in accordance with this chapter. A family trust company or licensed family trust company may also maintain one or more branch offices within or outside of this state.
(b) A registered agent who has an office in this state at the street address of the registered agent.
(c) All applicable state and local business licenses, charters, and permits.
(d) A deposit account with a state-chartered or national financial institution that has a principal or branch office in this state.
(2) In order to operate in this state, a foreign licensed family trust company must be in good standing in its principal jurisdiction and maintain:
(a) An office physically located in this state where original or true copies of all records and accounts of the foreign licensed family trust company pertaining to its operations in this state may be accessed and made readily available for examination by the office in accordance with this chapter.
(b) A registered agent who has an office in this state at the street address of the registered agent.
(c) All applicable state and local business licenses, charters, and permits.
(d) A deposit account with a state-chartered or national financial institution that has a principal or branch office in this state.
History.s. 13, ch. 2014-97.
1Note.Effective October 1, 2015.