The Florida Senate

737.101  Principal place of administration of trust.--

(1)  Unless otherwise designated in the trust agreement, the principal place of administration of a trust is the trustee's usual place of business where the records pertaining to the trust are kept or, if he or she has no place of business, the trustee's residence.

(2)  If not otherwise designated in the trust instrument in the case of cotrustees, the principal place of administration is:

(a)  The usual place of business of the corporate trustee, if there is but one corporate cotrustee;

(b)  The usual place of business or residence of the individual trustee who is a professional fiduciary, if there is but one such person and no corporate cotrustee; or otherwise,

(c)  The usual place of business or residence of any of the cotrustees as agreed upon by them.

(3)  Unless otherwise designated in the trust agreement and notwithstanding any other provision of this section, the principal place of administration of a trust, for which a bank, association, or trust company organized under the laws of this state or bank or savings association organized under the laws of the United States with its main office in this state has been appointed trustee, shall not be moved or otherwise affected solely because the trustee engaged in an interstate merger transaction with an out-of-state bank pursuant to s. 658.2953 in which the out-of-state bank is the resulting bank.

History.--s. 1, ch. 74-106; s. 1, ch. 75-221; s. 1, ch. 77-344; s. 16, ch. 97-30; s. 1037, ch. 97-102.