Current through Register 2024 Notice Reg. No. 52, December 27, 2024
(a) As provided for in the Act, each annual
statement shall include the following information:
(1) Current addresses and telephone and
facsimile numbers for licensee's place of business and place of
residence.
(2) The licensees
designated address of record for public information.
(3) A list of any other license or
professional certificate held by licensee, including information regarding the
type, state/county, license or certificate number, date issued, status, and
whether the license or certificate has been subject to disciplinary action,
including revocation or suspension. The licensee may attach a statement of
explanation.
(4) The case name,
type of case, date of appointment, court location, and case number for all
matters where the licensee has ever been appointed by the court to serve as a
fiduciary.
(5) The names of the
licensee's current conservatees and wards, and the respective case names, court
locations, and case numbers; and the names and dates of beginning services for
all trusts and estates currently administered by the licensee, and if
applicable, the respective case names, court locations, and case numbers for
the trusts and estates currently administered by the licensee.
(6) The aggregate dollar value of all assets
currently under the licensee's supervision as a professional
fiduciary.
(7) The case names,
court locations, and case numbers of all conservatorships and guardianships
that are closed, and the dates of closure, for which the licensee served as the
conservator or guardian; and the names of all trusts or other estates that are
closed for which the licensee served as the trustee or personal representative
and the dates of closure, and if applicable, the case names and case numbers
for the trusts or other estates that are closed for which the licensee served
as the trustee or personal representative.
(8) Whether the licensee or a family member
of the licensee holds any ownership or beneficial interests in any businesses
or other enterprises that have received payment from a client of the licensee,
including the names of the applicable businesses or other enterprises, the
names of the respective clients, and the dates of any payments
received.
(9) The names of any
persons or entities that have an interest in the licensee's professional
fiduciary business.
(10) Whether
the licensee has filed for bankruptcy or held a controlling financial interest
in a business when that business filed for bankruptcy in the last ten (10)
years and the date of the bankruptcy filing. The licensee may attach a
statement of explanation.
(11)
Whether the licensee has been convicted of a crime. The licensee may attach a
statement of explanation.
(12)
Whether the licensee has been found by a court to have breached a fiduciary
duty, the date, case name, court location, and case number associated with each
breach of fiduciary duty. The licensee shall submit a record of the court
findings and orders related to each specific case. The licensee may file an
additional statement of the issues and facts pertaining to each case.
(13) Whether the licensee has been removed as
a fiduciary by a court for breach of trust, the date, case name, court
location, and case number associated with each removal. Whether all related
appeals have been taken or the time to file an appeal has expired. The licensee
shall submit a record of the court findings and orders related to each specific
case. The licensee may file an additional statement of the issues and facts
pertaining to each case.
(14)
Whether the licensee has resigned as a fiduciary in a matter in which a
complaint has been filed with the court, the date the complaint was filed, the
date of resignation, the case name, court location, and case number associated
with each resignation, and a statement of the issues and facts pertaining to
each allegation. The licensee shall submit a record of the court findings and
orders related to each specific case.
(15) Whether the licensee has settled as a
fiduciary in a matter in which a complaint has been filed with the court, the
date the complaint was filed, the date of the settlement, the case name, court
location, and case number associated with each settlement, and a statement of
the issues and facts pertaining to each allegation. The licensee shall submit a
record of the court findings and orders related to each specific
case.
(b) Unless
otherwise indicated, each annual statement filed with the Bureau shall report
updated information reflecting any changes from the date of reporting the
information on the application for licensure as a professional fiduciary or
from the date of signing the last report as required by law, whichever is
applicable, to the present.
(c) As
used in this section "complaint" means a civil complaint, a petition, motion,
objection, or other pleading filed with the court against the licensee alleging
the licensee has not properly performed the duties of a fiduciary.
1. New section
filed 11-26-2007 as an emergency; operative 11-26-2007 (Register 2007, No. 48).
A Certificate of Compliance must be transmitted to OAL by 5-27-2008 or
emergency language will be repealed by operation of law on the following
day.
2. Certificate of Compliance as to 11-26-2007 order, including
amendment of subsections (a)(3)-(5), (a)(7), (a)(10)-(11) and (a)(14)-(b) and
new subsection (c), transmitted to OAL 5-28-2008 and filed 6-16-2008 (Register
2008, No. 25).
Note: Authority cited: Section
6517,
Business and Professions Code. Reference: Sections
141,
480,
481,
490,
6534,
6536,
6560
and
6561,
Business and Professions Code.
