Ask Reggi Your Question Now
Reggi is the free generative AI assistance for regulatory compliance
Can you summarize FLCL 655.825?
FINANCIAL INSTITUTIONS GENERALLY > Deposits in trust; applicability of s. 655.82 in place of former s. 655.81.
Short Summary
(1) Because deposits in trust are also accounts with a pay-on-death designation as described in s. 655.82, it is the intent of the Legislature that the provisions of s. 655.82 shall apply to and govern deposits in trust. References to former s. 655.81 in any depository agreement shall be interpreted after the effective date of this act as references to s. 655.82. (2) This section shall take effect July 1, 2001, and shall apply to deposits made to a depository account created after December 31, 1994. History. s. 3, ch. 2001-243; s. 101, ch. 2019-3.
Jurisdiction
Florida