Senate Bill sb2122

    Florida Senate - 2001                                  SB 2122

    By Senator Garcia





    39-1239-01

  1                      A bill to be entitled

  2         An act relating to common trust fund

  3         accounting; amending s. 660.45, F.S.; providing

  4         for notice by publication of the time and place

  5         for a court accounting of a common trust fund;

  6         providing an effective date.

  7

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

  9

10         Section 1.  Section 660.45, Florida Statutes, is

11  amended to read:

12         660.45  Common trust fund court accountings.--Unless

13  ordered by a court of competent jurisdiction, the trust

14  company or trust department operating such common trust funds

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

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

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

18  such conditions as the court may establish. Upon filing of the

19  application for the accounting of such account, the court

20  shall assign a time and place for a hearing on the accounting

21  of such account and order notice by one publication within 30,

22  but not less than 20, days prior to the date of such hearing,

23  of a notice in a daily newspaper of general circulation

24  designated by the court.

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

26

27            *****************************************

28                          SENATE SUMMARY

29    Provides for notice by publication in a court-approved
      newspaper of the time and place for a court accounting of
30    a common trust fund operated by a trust company or trust
      department.
31

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