CS/CS/CS/HB 1269 - Public Records Exemption for Family Trust Companies

• Creates section 662.148, Florida Statutes to exempt certain records held by the Office of Financial Regulation relating to family trust companies, licensed family trust companies, and foreign licensed family trust companies from public disclosure requirements.

• Exempts personal identifying information, examination reports, working papers, and shareholder/member lists from public records access under Florida Statutes section 119.07(1) and the State Constitution.

• Authorizes disclosure of exempt information to authorized representatives, fidelity insurers, independent auditors, liquidators/receivers/conservators, regulatory agencies, law enforcement, and pursuant to legislative subpoena.

• Allows publication of federally-required reports and the company name and registered agent address, while protecting lists of names of family members, shareholders, and customers.

• Establishes a third-degree felony penalty for willful unauthorized disclosure of confidential information and provides for automatic repeal on October 2, 2019 unless the Legislature reenacts the exemption.