House Bill hb1143

    Florida House of Representatives - 2001                HB 1143

        By Representative Garcia






  1                      A bill to be entitled

  2         An act relating to trust business; amending s.

  3         660.45, F.S.; requiring a court to assign a

  4         time and place for a hearing on the accounting

  5         of a common trust fund held by a trust company

  6         or trust department upon the filing of an

  7         application therefor with the court; requiring

  8         the trust company or trust department operating

  9         the fund to provide notice of the hearing once

10         within a specified time period by publication

11         in a daily newspaper of general circulation

12         designated by the court; providing an effective

13         date.

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15  Be It Enacted by the Legislature of the State of Florida:

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17         Section 1.  Section 660.45, Florida Statutes, is

18  amended to read:

19         660.45  Common trust fund court accountings.--Unless

20  ordered by a court of competent jurisdiction, the trust

21  company or trust department operating such common trust funds

22  is not required to render a court accounting with regard to

23  such funds; but it may, by application to the circuit court,

24  secure approval of such an accounting after such notice and on

25  such conditions as the court may establish. Upon the filing

26  with the court of an application for the accounting of such

27  funds, the court shall assign a time and place for a hearing

28  on the accounting of such funds and shall order notice of the

29  hearing to be published by the trust company or trust

30  department once within 30 days, but not less than 20 days,

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 2001                HB 1143

    800-107-01






  1  prior to the date of such hearing in a daily newspaper of

  2  general circulation designated by the court.

  3         Section 2.  This act shall take effect July 1, 2001.

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  6                          HOUSE SUMMARY

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      Requires a court to assign a time and place for a hearing
  8    on the accounting of a common trust fund held by a trust
      company or trust department upon the filing of an
  9    application therefor with the court. Requires the trust
      company or trust department operating the fund to provide
10    notice of the hearing once within a specified time period
      by publication in a daily newspaper of general
11    circulation designated by the court.

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CODING: Words stricken are deletions; words underlined are additions.