Fla. Stat. 660.38
Loans by and to fiduciary accounts


(1)

A trust company or trust department may make a loan to a fiduciary account from the funds belonging to another fiduciary account if the making of such loans to a designated fiduciary account is authorized by the governing instrument of the fiduciary account from which such loans are made or is authorized by court order.

(2)

A state bank or association having a trust department may make a loan from the funds used by the bank or association in its general business to a fiduciary account, including a fiduciary account held in its own trust department, and may take as security therefor assets of the fiduciary account, provided such transaction is fair to the fiduciary account.

Source: Section 660.38 — Loans by and to fiduciary accounts, https://www.­flsenate.­gov/Laws/Statutes/2024/0660.­38 (accessed Aug. 7, 2025).

Current through Fall 2025

§ 660.38. Loans by & to fiduciary accounts's source at flsenate​.gov