The Florida Senate

280.07  Mutual responsibility.--Any bank or savings association that is designated as a qualified public depository and that is not insolvent shall guarantee public depositors against loss caused by the default or insolvency of other qualified public depositories of the same type. The Treasurer shall maintain separate and totally independent contingent liability agreements, one such agreement exclusively for banks and another exclusively for savings associations.

History.--s. 3, ch. 81-285; s. 12, ch. 87-409.