Annuity Frequently Asked Questions - The Money Tree Lending Group, Inc. ("Money Tree")

What is the current status of The Money Tree Lending Group, Inc.?

On June 23, 2005, Money Tree was placed into liquidation by the Circuit Court of Leon County, Florida and the Florida Department of Financial Services was named the Receiver of this entity.   The Department of Financial Services requested this action by the court after being advised by the Florida Office of Insurance Regulation that Money Tree was not licensed to conduct insurance business in the state of Florida.  As a result of the Court's order, the original sale of annuity contracts by Money Tree was unauthorized and the issued annuity contracts are deemed invalid as of the date of liquidation.

I previously purchased an annuity from The Money Tree Lending Group, Inc.  What is the current status of the funds that I paid to the company?

The Receiver seized all bank accounts of Money Tree and is currently pursuing the liquidation of other assets of Money Tree and exploring other possible sources of recovery for the benefit of claimants.  On September 6, 2005, the Court issued an order approving the Receiver's Plan of Liquidation which allows for a seventy percent (70%) distribution of the principal and accrued interest on all outstanding annuities through the date of liquidation.  Distribution checks were mailed by the Receiver on September 7, 2005.  If you previously received interest payments under your contract, those payments will be deducted from the initial distribution.  Once the Receiver completes it liquidation of Money Tree's remaining assets, it will be able to better access the timing and amounts of subsequent distributions to the annuitants of Money Tree.  

The terms of my annuity contact call for periodic interest payments.  What is the status of interest payments due under the annuity contract provision?

Since the original sale of annuity contracts by Money Tree was unauthorized, the issued annuity contracts are deemed invalid as of the date of liquidation.  No interest will be calculated after the date of liquidation.  Interest paid or accrued through the date of liquidation is considered in the calculation of an annuitant's claim.

What do I currently need to do as an annuitant of Money Tree Lending Group, Inc.?

At this point, there is no action required on your part.  The Receiver is currently making a seventy percent (70%) distribution to all annuitants and distribution checks were mailed on September 7, 2005.  The Receiver is also investigating other possible sources of recovery and is seeking to liquidate all physical assets of Money Tree so that the Receiver may be able to make future distributions to Money Tree investors.

If you have recently changed your name or mailing address, please click here.

It is your responsibility to notify the Receiver, in writing, if you change your name or mailing address. Whenever you are corresponding with the Receiver, please reference your Receiver's ID Number which will allow the Receiver to associate your request with the correct Receivership and claim.

For questions or comments regarding this website, please click here.