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Terms Used In Florida Statutes 662.115

  • Family trust company: means a corporation or limited liability company that:
    (a) Is exclusively owned by one or more family members. See Florida Statutes 662.111
  • Foreign licensed family trust company: means a family trust company that:
    (a) Is licensed by a state in the United States other than this state or the District of Columbia. See Florida Statutes 662.111
  • Licensed family trust company: means a family trust company that operates in accordance with this chapter and has been issued a license that has not been revoked or suspended by the office. See Florida Statutes 662.111

(1) A family trust company that is not a licensed family trust company or a foreign licensed family trust company is subject to the provisions of this chapter unless the provisions are expressly limited in applicability to a licensed family trust company or foreign licensed family trust company.
(2) A licensed family trust company is subject to the provisions of this chapter that expressly refer to a licensed family trust company or that are not expressly limited to a family trust company that is not a licensed family trust company or to a foreign licensed family trust company.
(3) A foreign licensed family trust company is subject to the provisions of this chapter that expressly state that such provisions apply to a foreign licensed family trust company.