(1) As used in ss. 663.531-663.539, the term:
(a) “Foreign country” means a country other than the United States and includes any colony, dependency, or possession of such country notwithstanding any definitions in chapter 658, and any territory of the United States, including Guam, American Samoa, the Virgin Islands, and the Commonwealth of Puerto Rico.
(b) “Home-country regulator” means the supervisory authority or equivalent or other similarly sanctioned body, organization, governmental entity, or recognized authority, which has similar responsibilities in a foreign country in which and by whom an international trust entity is licensed, chartered, or has similar authorization to organize and operate.
(c) “International trust entity” means an international trust company or organization, or any similar business entity, or an affiliated or subsidiary entity that is licensed, chartered, or similarly permitted to conduct trust business in a foreign country or countries under the laws where such entity is organized and supervised.
(d) “Nonresident” has the same meaning as in s. 663.01.
(e) “Professional” means an accountant, attorney, or other financial services and wealth planning professional who is licensed by a governing body or affiliated with a licensed, chartered, or similarly authorized entity.
(f) “Qualified limited service affiliate” means a person or entity that is qualified under this part to perform the permissible activities outlined in s. 663.531 related to or for the benefit of an affiliated international trust entity.
(2) As used in ss. 663.531-663.539, the terms “affiliate,” “commission,” “executive officer,” “financial institution,” “financial institution-affiliated party,” “financial institutions codes,” “office,” “officer,” “state,” and “subsidiary” have the same meaning as provided in s. 655.005.
History.—s. 39, ch. 2017-83.