California Business and Professions Code 6534 – (a) The bureau shall maintain the following information in each …
(a) The bureau shall maintain the following information in each licensee‘s file, shall make this information available to a court for any purpose, including the determination of the appropriateness of appointing, continuing the appointment of, or removing, the licensee as a conservator, guardian, trustee, personal representative of decedent‘s estate, agent under a durable power of attorney for health care, agent under a durable power of attorney for finances, or a position arising from an appointment as a professional fiduciary practice administrator, and shall otherwise keep this information confidential, except as provided in subdivisions (b) and (c) of this section:
(1) The names of the licensee’s current conservatees, wards, principals under a durable power of attorney for health care, or principals under a durable power of attorney for finances, and the names of the trusts or estates currently administered by the licensee, whether the case is court supervised or non-court supervised.
Terms Used In California Business and Professions Code 6534
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Bureau: means the Professional Fiduciaries Bureau within the Department of Consumer Affairs, established pursuant to Section 6510. See California Business and Professions Code 6501
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
- Licensee: means a person who is licensed under this chapter as a professional fiduciary. See California Business and Professions Code 6501
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Professional fiduciary: means either of the following:
California Business and Professions Code 6501
- Subdivision: means a subdivision of the section in which that term occurs, unless some other section is expressly mentioned. See California Business and Professions Code 15
- Trustee: A person or institution holding and administering property in trust.
(2) The aggregate dollar value of all assets currently under the licensee’s supervision as a professional fiduciary.
(3) The licensee’s current addresses and telephone numbers for their place of business and place of residence.
(4) Whether the licensee has ever been removed for cause as a conservator, guardian, trustee, personal representative of a decedent’s estate, agent under a durable power of attorney for health care, or agent under a durable power of attorney for finances, or has ever resigned or settled a matter in which a complaint against the licensee has been filed with the court as a conservator, guardian, trustee, personal representative of a decedent’s estate, agent under a durable power of attorney for health care, or agent under a durable power of attorney for finances, or a position arising from an appointment as a professional fiduciary practice administrator, in a specific case.
(5) The circumstances causing a removal or resignation described in paragraph (4) and the case names, court locations, and case numbers associated with the removal or resignation.
(6) The case names, court locations, and case numbers of all conservatorship, guardianship, trust, or other estate administration cases that are closed for which the licensee served as the conservator, guardian, trustee, agent under a durable power of attorney for finance or health care, personal representative of a decedent’s estate, or professional fiduciary practice administrator, whether the case is court supervised or non-court supervised.
(7) Information regarding any discipline imposed upon the licensee by the bureau.
(8) Whether the licensee has filed for bankruptcy or held a controlling financial interest in a business that filed for bankruptcy in the last 10 years.
(b) The bureau shall make the information in paragraphs (2), (4), (7), and (8) of subdivision (a) available to the public.
(c) The bureau shall also publish information regarding licensees on the Internet as specified in Section 27. The information shall include, but shall not be limited to, information regarding license status and the information specified under subdivision (b).
(Amended by Stats. 2023, Ch. 680, Sec. 6. (AB 1262) Effective January 1, 2024.)