(1) A foreign family trust company lawfully organized and currently in good standing with the state regulatory agency in the jurisdiction where it is organized may become domesticated in this state by:
(a) Filing with the Department of State articles of domestication and articles of incorporation in accordance with and subject to s. 607.11922 or by filing articles of conversion in accordance with s. 605.1045 or s. 607.11933; and
(b) Filing an application for a license to begin operations as a licensed family trust company in accordance with s. 662.121, which must first be approved by the office, or by filing the prescribed form with the office to register as a family trust company to begin operations in accordance with s. 662.122.
(2) A foreign family trust company may apply pursuant to paragraph (1)(b) before satisfying the requirements of paragraph (1)(a); however, upon receipt of a certificate of authority, the company must satisfy the requirements of paragraph (1)(a) before beginning operations.
History.—s. 35, ch. 2014-97; s. 16, ch. 2016-35; s. 285, ch. 2019-90.