Florida § 660.48 - Receivership or voluntary liquidation.
Full text of Florida Florida Statutes § 660.48 — Receivership or voluntary liquidation., with citation guidance and answers to common questions.
§ 660.48. Receivership or voluntary liquidation.
(1) If a liquidator or receiver is appointed for a trust company or a state bank or association having a trust department, the liquidator or receiver shall, pursuant to the instructions of the office and the orders of any court and the federal regulatory agency having jurisdiction, proceed to close such fiduciary accounts as can be closed promptly and transfer all other fiduciary accounts to substitute fiduciaries. (2) If a trust company or a state bank or association having a trust department is placed in voluntary liquidation, the liquidating agent shall, in accordance with applicable law, proceed at once to liquidate the affairs of the trust company and the trust department with respect to its fiduciary accounts, as follows: (a) All fiduciary accounts over which a court is exercising jurisdiction shall be closed or disposed of as soon as practicable in accordance with the orders or instructions of such court; and (b) All other fiduciary accounts which can be closed promptly shall be closed as soon as practicable and final accounting shall be made therefor, and all remaining accounts shall be transferred to substitute fiduciaries in accordance with law.
Frequently Asked Questions About Florida § 660.48
What does Florida Statutes § 660.48 cover?
Section 660.48 ("Receivership or voluntary liquidation.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 660.48?
A common citation format is "Florida Statutes § 660.48" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 660.48 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.