Definitions, Application for License as a Licensed Family Trust Company, Records, Application Process and Forms, Notification of Proposed Appointment, Quarterly Reporting of Capital Account, Fidelity Bonds, and Insurance

 

DEPARTMENT OF FINANCIAL SERVICES

FSC - Financial Institution Regulation

RULE NOS.:RULE TITLES:

69U-162.002Definitions

69U-162.003Application for License as a Licensed Family Trust Company

69U-162.007Records

69U-162.009Application Process and Forms

69U-162.010Notification of Proposed Appointment

69U-162.012Quarterly Reporting of Capital Account, Fidelity Bonds, and Insurance

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 41 No. 171, September 2, 2015 issue of the Florida Administrative Register.

69U-162.002 Definitions.

(1) through (2) No change.

(3) “Biographical information” means date of birth, place of birth, social security number, driver’s license or other identification card issued by a federal or state governmental authority, current residence address, prior residence addresses, educational background, criminal justice information; employment history (whether paid or unpaid), occupational or professional licensure information, personal financial information, and all other information required by Form OFR-162-Bio “Biographical Report,” effective –––-, incorporated by reference in Rule 69U-162.009(6)(a)2., F.A.C.

(4) through (11) No change.

The remainder of the rule reads as previously published.

 

69U-162.003 Application for License as a Licensed Family Trust Company.

(1) No change.

(2)(a) through (d) No change.

(2)(e) Exhibit E Form OFR-162-Bio, “Biographical Report,” incorporated by reference in Rule 69U-162.009(6)(a)2., F.A.C., for each director, officer, manager, member acting in a managerial capacity or equivalent position;

(2)(f) Exhibit F Form OFR-162-Bio, “Biographical Report,” incorporated by reference in Rule 69U-162.009(6)(a)2., F.A.C., for each controlling stockholder or member;

(2)(g) through (q) No change.

(3) through (4) No change.

The remainder of the rule reads as previously published.

 

69U-162.007 Records.

(1) through (2)(a) No change.

(2)(b) Account information and statements relating to any corporate investments not included under paragraph  subparagraph (2)(a) above;

(2)(c) through (4) No change.

The remainder of the rule reads as previously published.

 

69U-162.009 Application Process and Forms.

(1) through (5) No change.

(6)(a) The following form forms referred to in this section below are is incorporated by reference and adopted by this rule for the purposes of Rules 69U-162.003 and 69U-162.010, F.A.C.: Rule Chapter 69U-162, F.A.C.:

1. Form OFR-162-01, “Application for License as a Licensed Family Trust Company,” effective –––––, available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX.

2. Form OFR-162-Bio, “Biographical Report,” effective ––––––, available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX.

3. Form OFR-162-02, “Application to Register as a Family Trust Company,” effective ––––-, available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX

4. Form OFR-162-03, “Application to Register as a Foreign Licensed Family Trust Company,” effective ––, available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX

5. Form OFR-162-04, “Annual Renewal Application,” effective ––––––, available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX

6. Form OFR-162-07, “Notification of Proposed Appointment of a Director, Addition of a Member, or Employment of an Officer, Manager, or Member Acting in a Managerial Capacity, or Equivalent Position,” effective ––––––––––, available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX

7. Form OFR-162-11, “Quarterly Report of Capital Account, Fidelity Bond, and Insurance,” effective –––, available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX

(b) Social security number. The following form contains a field that requires a proposed director, officer, manager, or member acting in a managerial capacity for a licensed family trust company to provide his or her social security number. : Form OFR-162-Bio “Biographical Report” effective ––––––, incorporated by reference in Rule 69U-162.009(6)(a)2., F.A.C.  The individual’s social security number will be used by the Office to facilitate the identification of the individual to obtain verification of the required criminal justice information and licensing background, which may expedite the processing of the form forms. Social security numbers obtained through the submission of the above-listed form are subject to the confidentiality provisions of Section 119.071(5), F.S.

 

The remainder of the rule reads as previously published.

 

69U-162.010 Notification of Proposed Appointment.

(1) A licensed family trust company that is required under Section 662.125(3), F.S., to notify the Office of the proposed appointment of proposes to appoint an individual to the board of directors or addition add of a member, or appointment appoint or employment employ of an individual as an officer or manager or member acting in a managerial capacity or equivalent position must notify the Office of such proposed appointment, addition, or employment using Form OFR-162-07, “Notification of Proposed Appointment of a Director, Addition of a Member, or Employment of an Officer, Manager, or Member Acting in a Managerial Capacity, or Equivalent Position,” effective–––––––––, herein incorporated by reference and available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX.

(2) The notification must be accompanied by a completed Form OFR-162-Bio, “Biographical Report,” effective –––––-, incorporated by reference in Rule 69U-162.009(6)(a)2., F.A.C., for the individual proposed.

(3) No change.

(4) A licensed family trust company may file a written request with Office to permit an individual proposed as a director, executive officer, manager, member, managing member, or equivalent position, to assume his or her position on an interim basis prior to the expiration of the 60-day notice period.

(5) The Office shall not consider a request for interim appointment or employment of a director or executive officer or managing member, or equivalent position, unless the Office has received the completed forms.

(6) The granting of a request for the interim appointment, addition, or employment of an individual shall not affect the ability of the Office to subsequently issue a notice of disapproval within the 60-day notice period.

The remainder of the rule reads as previously published.

 

69U-162.012 Quarterly Reporting of Capital Accounts, Fidelity Bonds, and Insurance.

(1) A family trust company and licensed family trust company shall, within 30 days after the end of each quarter, file with the Office a report of capital accounts, fidelity bonds, and errors and omissions insurance on Form OFR-162-11 “Quarterly Report of Capital Account, Fidelity Bonds Bond, and Insurance,” effective ––––, herein incorporated by reference and available at https://www.flrules.org/gateway/reference.asp?No=Ref-XXXXX.

(2) through (3) No change.

The remainder of the rule reads as previously published.