(1) A family trust company may not have more than one designated relative.
(2) A licensed family trust company may have up to two designated relatives. The designated relatives may not have a common ancestor within three generations.
Fla. Stat. § 662.120
Maximum number of designated relatives
Known as the Florida Family Trust Company Act
The act spans §§ 662–662 (37 sections).
History.--s. 9, ch. 2014-97; s. 4, ch. 2016-35.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.