Home Table of Contents

§ 4542. Annual Statement.

16 CA ADC § 4542Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 16. Professional and Vocational Regulations
Division 41. Professional Fiduciaries Bureau
Article 7. Reporting Duties of Licensee
16 CCR § 4542
§ 4542. Annual Statement.
(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.

Credits

Note: Authority cited: Section 6517, Business and Professions Code. Reference: Sections 141, 480, 481, 490, 6534, 6536, 6560 and 6561, Business and Professions Code.
History
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).
This database is current through 1/13/23 Register 2023, No. 2.
Cal. Admin. Code tit. 16, § 4542, 16 CA ADC § 4542
End of Document