662.144 Failure to submit required report; fines.—If a family trust company, licensed family trust company, or foreign licensed family trust company fails to submit within the prescribed period its annual renewal or any other report required by this chapter or any rule, the office may impose a fine of up to $100 for each day that the annual renewal or report is overdue. Failure to provide the annual renewal within 60 days after the end of the calendar year shall automatically result in termination of registration of a family trust company or revocation of the license of a licensed family trust company. The trust company shall thereafter have 90 days to wind up its affairs.
History.—s. 31, ch. 2014-97.
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