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Florida Administrative Code (Last Updated: November 11, 2024) |
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69. Department of Financial Services |
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69U. FSC - Financial Institution Regulation |
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69U-135. Qualified Limited Service Affiliates Of International Trust Entities |
1(1) A qualified limited service affiliate that proposes to terminate operations in this state must surrender its qualification. A qualified limited service affiliate must surrender its qualification by providing the OFR with written notification at least 60 days prior to the proposed date of voluntary termination. The notice must contain the proposed date of termination and the name of the officer in charge of the termination procedures, and shall include a proposed plan for discontinuing business as well as a certified copy of the resolution of the board of directors, or members if a limited liability company, authorizing the action.
101(2) The proposed plan for discontinuing business must include:
110(a) A draft of the proposed notice to each international trust entity to whom services are provided;
127(b) Any outstanding liabilities or claims and the proposed process to settle those liabilities or claims;
143(c) Any other information related to the resolution of outstanding matters and discontinuance of business including any related proposed amendments to the company's articles of incorporation or organization or articles of dissolution.
175(3) Operations of a qualified limited service affiliate are deemed terminated upon the later of the expiration of the 60 days from the date of the filing of the notice of voluntary surrender or upon the date provided in the notice of voluntary surrender, unless the OFR provides written notice specifying the grounds for denial of such proposed termination.
234Rulemaking Authority 663.538(1) FS. Law Implemented 663.538 FS. History–New 1-2-18.
