SECTION 280.03. Public deposits to be secured; prohibitions; exemptions.
Latest version.
1(1)(a) 2All public deposits shall be secured as provided in this chapter when public depositors comply with the requirements of this chapter.
23(b) 24Public deposits shall be made in a qualified public depository unless exempted by law.
38(2) 39Public funds shall not be deposited directly or indirectly in negotiable certificates of deposit.
53(3) 54The following are exempt from the requirements of, and protection under, this chapter:
67(a) 68Public deposits deposited in a bank or savings association by a trust department or trust company which are fully secured under trust business laws.
92(b) 93Moneys of the System Trust Fund, as defined in s. 103121.021(36)104.
105(c) 106Public deposits held outside the country.
112(d) 113Wire transfers and transfers of funds solely for the purpose of paying registrars and paying agents.
129(e) 130Public deposits that are fully secured by a collateral requirement under federal regulations.
History.-s. 3, ch. 81-285; s. 8, ch. 83-122; s. 2, ch. 85-259; s. 55, ch. 86-152; s. 4, ch. 86-236; s. 2, ch. 87-409; s. 6, ch. 90-357; s. 2, ch. 93-75; s. 5, ch. 96-216; s. 17, ch. 97-30; s. 12, ch. 98-409; s. 3, ch. 2005-126; s. 2, ch. 2014-145.
