Providence First Trust Company; On 10/4/2018, the Florida Office of Financial Regulation (Division of Financial Institutions) received a Petition for Declaratory Statement from Providence First Trust Company. The petition sought a declaratory ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by Providence First Trust Company on December 05, 2018. The following is a summary of the agency's disposition of the petition: On 10/4/2018, the Florida Office of Financial Regulation (Division of Financial Institutions) received a Petition for Declaratory Statement from Providence First Trust Company. The petition sought a declaratory statement from the Office on whether its proposed appointment as General Trustee and Proposed Activities in the State of Florida falls within the list of prohibited activities listed in Section 660.41, Florida Statutes and whether they require a Florida trust company charter pursuant to subsection 658.12(20), Florida Statutes and subsection 658.16(1), Florida Statutes.*** On 12/5/2018, the Office issued a Final Order on the Petition for Declaratory Statement. The Office determined that under the circumstances described, subsections 658.12(20) and 658.16(1), Florida Statutes, do not require Petitioner to obtain a Florida trust company charter to engage in the Proposed Activities in this state, or to accept the fiduciary appointment as General Trustee of the Trust.

A copy of the Order Disposing of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].