Florida § 662.142 - Revocation of license.
Full text of Florida Florida Statutes § 662.142 — Revocation of license., with citation guidance and answers to common questions.
§ 662.142. Revocation of license.
(1) Any of the following acts constitute grounds for the revocation by the office of the license of a licensed family trust company: (a) The company is not a family trust company as defined in this chapter. (b) A violation of s. 662.1225, s. 662.123(1)(a), s. 662.125(2), s. 662.126, s. 662.127, s. 662.128, s. 662.130, s. 662.131, s. 662.134, or s. 662.144. (c) A violation of chapter 896, relating to financial transactions offenses, or a similar state or federal law or related rule or regulation. (d) A violation of any rule of the commission. (e) A violation of any order of the office. (f) A breach of any written agreement with the office. (g) A prohibited act or practice under s. 662.131. (h) A failure to provide information or documents to the office upon written request. (i) An act of commission or omission that is judicially determined to be a breach of trust or fiduciary duty. (2) If the office finds that a licensed family trust company has committed any of the acts specified in subsection (1), the office may enter an order suspending the company’s license and provide notice of its intention to revoke the license and of the opportunity for a hearing pursuant to ss. 120.569 and 120.57. (3) If a hearing is not timely requested pursuant to ss. 120.569 and 120.57 or if a hearing is held and it has been determined that the licensed family trust company has committed any of the acts specified in subsection (1), the office may enter an order revoking the company’s license. A licensed family trust company has 90 days to wind up its affairs after license revocation. If after 90 days the company is still in operation, the office may seek an order from the circuit court for the annulment or dissolution of the company.
Frequently Asked Questions About Florida § 662.142
What does Florida Statutes § 662.142 cover?
Section 662.142 ("Revocation of license.") 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 § 662.142?
A common citation format is "Florida Statutes § 662.142" (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 § 662.142 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.