§ 660.415, Fla. Stat. · Chapter 660. TRUST BUSINESS
Investment by trust companies, trust departments, trustees, and fiduciaries.
Text — 2026 Florida Statutes
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.
Notes and commentary — not statutory text
History
s. 40, ch. 85-82; s. 1, ch. 91-307; ss. 1, 146, ch. 92-303.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0660/0660.html
- Text hash
- sha256 b7b1926acc744e6065ad67b8dec82b0d73e8c8d0b35642e1c4efad2dafa68f07
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.