FL
Florida House Bill H1363

Florida 2022 Regular Session

Florida House Bill H1363 Compare Versions

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1010 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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1414 A bill to be entitled 1
1515 An act relating to public records; creating s. 2
16-662.1465, F.S.; making the official records of certain 3
17-proceedings when a family trust company, licensed 4
18-family trust company, or foreign licensed family trust 5
19-company is a party confidential and exempt from public 6
20-record requirements; providing exceptions; providing a 7
21-statement of public necessity; providing an effective 8
22-date. 9
23- 10
24-Be It Enacted by the Legislatur e of the State of Florida: 11
25- 12
26- Section 1. Section 662.1465, Florida Statutes, is created 13
27-to read: 14
28- 662.1465 Confidentiality of family trust company 15
29-proceedings and other filings. — 16
30- (1) In proceedings under chapter 736 or chapter 738, in 17
31-which a family trust company, licensed family trust company, or 18
32-foreign licensed family trust company is a party, upon written 19
33-notice from any party to the clerk that this section is 20
34-applicable, the clerk shall keep all official records of that 21
35-case separate from other re cords of the court and not open to 22
36-inspection by the public. Official records of that case are 23
37-confidential and exempt from s. 119.07 and s. 24(a), Art. I of 24
38-the State Constitution and must be protected. For the purposes 25
16+662.1465, F.S.; making the identities of beneficiaries 3
17+and specified individuals and certain documents in 4
18+trust proceedings when a family trust company, 5
19+licensed family trust company, or foreign licensed 6
20+family trust company is a party confidential and 7
21+exempt; requiring the court to seal any documents 8
22+filed with the court in such proceedings; prohibiting 9
23+the court from releasing to the public any of the 10
24+sealed documents or information contained therein; 11
25+providing exceptions; providing a statement of public 12
26+necessity; providing an effective date. 13
27+ 14
28+Be It Enacted by the Legislature of the State of Florida: 15
29+ 16
30+ Section 1. Section 662.1465, Florida Statutes, is created 17
31+to read: 18
32+ 662.1465 Confidentiality of family trust company 19
33+proceedings and other filings. —In trust proceedings in which a 20
34+family trust company, licensed family trust company, or foreign 21
35+licensed family trust company is a party, the identities of 22
36+those who establish, administer, or benefit from a trust and any 23
37+information relating to the trust are confidential and exempt 24
38+from s. 24(a), Art. I of the State Constitution and must be 25
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4747 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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51-of this section, "official records" means the docket and all 26
52-filings and other records of the case. 27
53- (2) Notwithstanding subsection (1), official records may 28
54-be inspected upon order of the court by persons deemed by the 29
55-court to have a specific interest in the trust, a transaction 30
56-relating to the trust, or an asset held or previously held by 31
57-the trust and where the court determines there is a compelling 32
58-need for releasing the information requested. In granting a 33
59-right to any person to inspect official records, the court may 34
60-limit access to such information as the court deems necessary to 35
61-protect such person's interest and may place any reasonable 36
62-restriction on further distribution of such information by such 37
63-person. 38
64- (3) Notwithstanding subsection (1), the clerk shall make 39
65-official records available to the following individuals: 40
66- (a) The settlor. 41
67- (b) Any fiduciary for the trust, including a trustee or 42
68-trust director. 43
69- (c) Any beneficiary of the trust. 44
70- (d) An attorney for the settlor, a fiduciary, or a 45
71-beneficiary of the trust. 46
51+protected in any court proceeding or filing related to the 26
52+trust. The court shall seal any document filed with the court in 27
53+a trust proceeding in which a family trust company, licensed 28
54+family trust company, or foreign licensed family trust company 29
55+is a party, including, but not limited to, the instrument on 30
56+which the trust is based; any petitions, briefs, or inventories; 31
57+any statement or report filed by a fiduciary; any court orders; 32
58+and any other document in the court case file. The court may not 33
59+release to the public any of th e sealed documents or information 34
60+contained therein, but shall make them available to the 35
61+following individuals: 36
62+ (1) The settlor. 37
63+ (2) Any fiduciary for the trust. 38
64+ (3) Any beneficiary of the trust. 39
65+ (4) An attorney for the settlor, a fiduciary, or a 40
66+beneficiary of the trust. 41
67+ (5) Any other person if, upon a showing of a specific 42
68+interest in the trust or a transaction relating to the trust or 43
69+an asset held or previously held by the trust, the court 44
70+determines there is a compelling need for releasing t he 45
71+information requested. 46
7272 Section 2. The Legislature finds that it is a public 47
73-necessity that the official records of proceedings under chapter 48
74-736 or chapter 738 involving family trust companies, licensed 49
75-family trust companies, or foreign licensed family trust 50
73+necessity that trust proceedings involving family trust 48
74+companies, licensed family trust companies, or foreign licensed 49
75+family trust companies be made confidential and exemp t from s. 50
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8484 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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88-companies be made conf idential and exempt from s. 119.07 and s. 51
89-24(a), Article I of the State Constitution. Public disclosure of 52
90-the official records of such proceedings, which include 53
91-information relating to the clients, family members, members, or 54
92-stockholders of a family tru st company, licensed family trust 55
93-company, or foreign licensed family trust company would vitiate 56
94-other protections granted by law to such companies and their 57
95-constituents. In addition, proceedings under chapter 736 or 58
96-chapter 738 often involve large sums of money or vulnerable 59
97-people who could be targeted for exploitation or abuse. Public 60
98-disclosure of sensitive family and financial information 61
99-contained in the official records of such proceedings can result 62
100-in specific harm to beneficiaries and other inte rested parties 63
101-in these cases. Therefore, the Legislature finds that the need 64
102-to protect the identities of beneficiaries of trusts for which a 65
103-family trust company, licensed family trust company, or foreign 66
104-licensed family trust company is a trustee and th e sensitive 67
105-financial information contained in the official records of such 68
106-proceedings is sufficiently compelling to override the state's 69
107-public policy of open government and that the protection of such 70
108-information cannot be accomplished without this exem ption. 71
109- Section 3. This act shall take effect July 1, 2022. 72
88+24(a), Article I of the State Constitution. Public disclosure in 51
89+such trust proceedings of information relating to the clients, 52
90+family members, members, or stockholders of a family trust 53
91+company, licensed family trust company, or foreign licensed 54
92+family trust company would vitiate other protections granted by 55
93+law to such companies and their constituents. In addition, such 56
94+trust proceedings often involve large sums of money or 57
95+vulnerable people who could be targeted for exploitation or 58
96+abuse. Public disclosure of sensitive family and financial 59
97+information in trust proceedings can result in specific harm to 60
98+beneficiaries and other interested parties in these cases. 61
99+Therefore, the Legislature finds that the need to protect the 62
100+identities of beneficiar ies of trusts for which a family trust 63
101+company, licensed family trust company, or foreign licensed 64
102+family trust company is a trustee and the sensitive financial 65
103+information contained in such proceedings is sufficiently 66
104+compelling to override the state's pu blic policy of open 67
105+government and that the protection of such information cannot be 68
106+accomplished without this exemption. 69
107+ Section 3. This act shall take effect July 1, 2022. 70