Fla. Stat. 660.415
Investment by trust companies, trust departments, trustees, and fiduciaries

In the absence of an express provision to the contrary, when a governing instrument directs, requires, authorizes, or permits investment in United States Government obligations, a trust company, trust department, trustee, or other fiduciary may invest in such obligations, either directly or in the form of securities of, or other interests in, any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. ss. 80a-1 et seq., or a duly authorized common trust fund. However, the portfolio of such investment company, investment trust, or common trust fund is limited to United States Government obligations and repurchase agreements fully collateralized by such United States Government obligations and any such investment company, investment trust, or common trust fund shall take delivery of such collateral either directly or through an authorized custodian.

Source: Section 660.415 — Investment by trust companies, trust departments, trustees, and fiduciaries, https://www.flsenate.gov/Laws/Statutes/2024/0660.415 (accessed Aug. 7, 2025).

660.25
Definitions 660.26
Trust department licensing 660.27
Deposit of securities with Chief Financial Officer 660.28
Exemption from bond and other security as fiduciary 660.29
Use of personnel and facilities 660.30
Segregation of books, records, and assets 660.31
General trust business by trust companies and departments 660.33
Trust service offices 660.34
General powers 660.35
Oaths, affidavits, and acknowledgments 660.36
Fiduciary agency contracts 660.37
Security for deposit of fiduciary funds 660.38
Loans by and to fiduciary accounts 660.39
Sales between fiduciary accounts 660.40
Self dealing 660.41
Corporations 660.42
Establishment of common trust funds 660.43
Common trust fund investments 660.44
Common trust fund to be audited annually 660.45
Common trust fund court accountings 660.46
Substitution of fiduciaries 660.47
Surrender of fiduciary powers 660.48
Receivership or voluntary liquidation 660.265
Examination fees 660.415
Investment by trust companies, trust departments, trustees, and fiduciaries 660.417
Investment of fiduciary funds in investment instruments 660.418
Investment of fiduciary funds in syndicate securities 660.431
Prudent investor rule

Current through Fall 2025

§ 660.415. Investment by trust companies, trust departments, trustees, & fiduciaries's source at flsenate.gov

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Location: https://florida.public.law/statutes/fla._stat._660.415

Original Source: Section 660.415 — Investment by trust companies, trust departments, trustees, and fiduciaries, https://www.flsenate.gov/Laws/Statutes/2024/0660.415 (last accessed Aug. 7, 2025).