Quick Links
- General Laws Conversion Table (2024) [PDF]
- Florida Statutes Definitions Index (2024) [PDF]
- Table of Section Changes (2024) [PDF]
- Preface to the Florida Statutes (2024) [PDF]
- Table Tracing Session Laws to Florida Statutes (2024) [PDF]
- Index to Special and Local Laws (1971-2024) [PDF]
- Index to Special and Local Laws (1845-1970) [PDF]
- Statute Search Tips
2014 Florida Statutes
SECTION 142
Revocation of license.
Revocation of license.
1662.142 Revocation of license.—
(1) The following acts or conduct constitutes grounds for the revocation by the office of the license of a licensed family trust company:
(a) The company is not a family trust company as defined in this chapter;
(b) A violation of s. 662.1225, s. 662.123(1)(a), s. 662.125(2), s. 662.126, s. 662.127, s. 662.128, s. 662.130, s. 662.131, s. 662.134, or s. 662.144;
(c) A violation of chapter 896, relating to financial transactions offenses, or any similar state or federal law or any related rule or regulation;
(d) A violation of any rule of the commission;
(e) A violation of any order of the office;
(f) A breach of any written agreement with the office;
(g) A prohibited act or practice under s. 662.131;
(h) A failure to provide information or documents to the office upon written request; or
(i) An act of commission or omission that is judicially determined to be a breach of trust or of fiduciary duty pursuant to a court of competent jurisdiction.
(2) Upon a finding that a licensed family trust company has committed any of the acts set forth in paragraphs (1)(a)-(h), the office may enter an order suspending the company’s license and provide notice of its intention to revoke the license and of the opportunity for a hearing pursuant to ss. 120.569 and 120.57. If there has been a commission or omission under paragraph (1)(i), the office may immediately enter an order revoking the license. The licensed family trust company shall have 90 days to wind up its affairs after license revocation. If after 90 days the company is still in operation, the office may seek an order from the circuit court for the annulment or dissolution of the company.
History.—s. 29, ch. 2014-97.