Florida Statutes Title XXXVIII Chapter 660 - Trust Business
- 660.25 - Definitions.
Subject to other definitions contained in other sections of this code, and unless the context otherwise requires, in this chapter:(1) “Commercial department” of a bank or...
- 660.26 - Trust Department Licensing.
(1) When authorized by the office as provided in this section, a state bank or association may establish a trust department for the purpose of conducting...
- 660.265 - Examination Fees.
Each state trust company and each state bank or association exercising trust powers shall pay to the office, within 30 days after an examination pursuant...
- 660.27 - Deposit Of Securities With Chief Financial Officer.
(1) Before transacting any trust business in this state, every trust company and every state or national bank or state or federal association having trust powers...
- 660.28 - Exemption From Bond And Other Security As Fiduciary.
A trust company or trust department maintaining security with the Chief Financial Officer as required by s. 660.27 shall not be required by the state...
- 660.29 - Use Of Personnel And Facilities.
To the extent not prohibited by law, the trust department of a bank or association, for or in connection with any of its fiduciary functions...
- 660.30 - Segregation Of Books, Records, And Assets; Fiduciary Assets Not Liable.
(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...
- 660.31 - General Trust Business By Trust Companies And Departments.
The granting or issuance of a charter to a trust company and the granting of trust powers to a bank or association, with powers expressly...
- 660.33 - Trust Service Offices.
(1) In addition to its principal office and any branch trust company authorized under s. 658.26, a trust company or trust department with its principal place...
- 660.34 - General Powers.
Every trust company and every trust department shall have:(1) The right and power to act, alone or jointly with any other person, in any and every...
- 660.35 - Oaths, Affidavits, And Acknowledgments.
In any case in which a trust company or the trust department of a bank or association is required to make an oath, affirmation, affidavit,...
- 660.36 - Fiduciary Agency Contracts.
Any trust company or trust department acting in a fiduciary capacity may employ any other trust company or trust department as an agent to advise...
- 660.37 - Security For Deposit Of Fiduciary Funds.
(1) If security, including insurance by the Federal Deposit Insurance Corporation, is furnished as provided in subsection (2), funds held in a fiduciary account by a...
- 660.38 - Loans By And To Fiduciary Accounts.
(1) A trust company or trust department may make a loan to a fiduciary account from the funds belonging to another fiduciary account if the making...
- 660.39 - Sales Between Fiduciary Accounts.
A trust company or a trust department may sell assets held by it in one fiduciary account to itself as fiduciary of another fiduciary account...
- 660.40 - Self Dealing.
(1) Except as provided in s. 660.37, funds held by a trust company or a trust department shall not be invested in the obligations or securities...
- 660.41 - Corporations; Certain Fiduciary Functions Prohibited.
All corporations are prohibited from exercising any of the powers or duties and from acting in any of the capacities, within this state, as follows:(1) As...
- 660.415 - Investment By Trust Companies, Trust Departments, Trustees, And Fiduciaries.
In the absence of an express provision to the contrary, when a governing instrument directs, requires, authorizes, or permits investment in United States Government obligations,...
- 660.417 - Investment Of Fiduciary Funds In Investment Instruments; Permissible Activity Under Certain Circumstances; Limitations.
(1) In addition to other investments authorized by law for the investment of funds held by a fiduciary, or by the instrument governing the fiduciary relationship,...
- 660.418 - Investment Of Fiduciary Funds In Syndicate Securities.
Notwithstanding any other provision of law, any financial institution with fiduciary powers may, in its fiduciary capacity, purchase bonds or other securities underwritten or otherwise...
- 660.42 - Establishment Of Common Trust Funds.
(1) Any trust company or trust department may establish one or more common trust funds for the exclusive purpose of furnishing investments to itself as fiduciary,...
- 660.43 - Common Trust Fund Investments.
No bank, association, or trust company shall mingle its own funds with any common trust fund managed by such bank, association, or trust company.History.—s. 3,...
- 660.431 - Prudent Investor Rule.
(1) A bank, association, trust company, or affiliate thereof, in establishing, maintaining, and administering one or more common trust funds for the purposes of furnishing investments...
- 660.44 - Common Trust Fund To Be Audited Annually.
A trust company or trust department administering a common trust fund shall keep proper records, which in addition to all other necessary and proper matters...
- 660.45 - Common Trust Fund Court Accountings.
Unless ordered by a court of competent jurisdiction, the trust company or trust department operating such common trust funds is not required to render a...
- 660.46 - Substitution Of Fiduciaries.
(1) The provisions of this section shall apply to the transfer of fiduciary accounts by substitution, and for those purposes these provisions shall constitute alternative procedures...
- 660.47 - Surrender Of Fiduciary Powers.
Any state bank or association which has been granted trust powers and which desires to surrender such rights shall file with the office a certified...
- 660.48 - Receivership Or Voluntary Liquidation.
(1) If a liquidator or receiver is appointed for a trust company or a state bank or association having a trust department, the liquidator or receiver...
Last modified: September 23, 2016