Florida § 280.03 Public deposits to be secured; prohibitions; exemptions

Florida Statutes

§ 280.03 — Public deposits to be secured; prohibitions; exemptions

Florida § 280.03

TitleXIX

Ch. 280SECURITY FOR PUBLIC DEPOSITS

This text of Florida § 280.03 (Public deposits to be secured; prohibitions; exemptions) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 280.03 (2026).

Text

(1)(a) All public deposits shall be secured as provided in this chapter when public depositors comply with the requirements of this chapter.

(b)Public deposits shall be made in a qualified public depository unless exempted by law.

(2)Public funds shall not be deposited directly or indirectly in negotiable certificates of deposit.

(3)The following are exempt from the requirements of, and protection under, this chapter:

(a)Public deposits deposited in a bank, credit union, or savings association by a trust department or trust company which are fully secured under trust business laws.

(b)Moneys of the System Trust Fund, as defined in s. 121.021(36).

(c)Public deposits held outside the country.

(d)Wire transfers and transfers of funds solely for the purpose of paying registrars and pa

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(1)(a) All public deposits shall be secured as provided in this chapter when public depositors comply with the requirements of this chapter. (b) Public deposits shall be made in a qualified public depository unless exempted by law.

(2) Public funds shall not be deposited directly or indirectly in negotiable certificates of deposit.

(3) The following are exempt from the requirements of, and protection under, this chapter: (a) Public deposits deposited in a bank, credit union, or savings association by a trust department or trust company which are fully secured under trust business laws. (b) Moneys of the System Trust Fund, as defined in s. 121.021(36). (c) Public deposits held outside the country. (d) Wire transfers and transfers of funds solely for the purpose of paying registrars and paying agents. (e) Public deposits that are fully secured by a collateral requirement under federal regulations. (f) Public deposits made in accordance with s. 17.57(7) or s. 218.415(23).

Legislative 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; s. 69, ch. 2024-140.