Sun Coast Consulting Services.; The petition seeks a declaratory statement from the Office on (1) whether having substantially less than twelve (12) trusts, and never having more than twelve (12) trusts would be considered "de minimis" under Sec. ...

 

DEPARTMENT OF FINANCIAL SERVICES

FSC - Financial Institution Regulation

NOTICE IS HEREBY GIVEN that on June 22, 2018, the Office of Financial Regulation has received the petition for declaratory statement from Sun Coast Consulting Services. The petition seeks the agency’s opinion as to the applicability of Sections 658 and 660, Florida Statutes, as it applies to the petitioner.

The petition seeks a declaratory statement from the Office on (1) whether having substantially less than twelve (12) trusts, and never having more than twelve (12) trusts would be considered “de minimis” under subsection 658.12(20), Florida Statutes; and (2) whether not having performed any of the fiduciary functions prohibited under Section 660.41, Florida Statutes, Petitioner is not barred from being a Trustee on a trust solely on the basis that it is an incorporated entity; and/or (3) that Petitioner is not required to register because its Trustee business is "de mininis" and thus not barred from acting as a Trustee at this time.

A copy 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] or by email at [e-mail].

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