California Code of Regulations › Title 16 - Professional and Vocational Regulations › Division 41 - Professional Fiduciaries Bureau › Article 7 - Reporting Duties of Licensee › Section 4542 - Annual Statement

Current through Register 2024 Notice Reg. No. 28, July 12, 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.