The Florida Senate

280.17  Requirements for public depositors.--In addition to any other requirement specified in this chapter, public depositors must comply with the following requirements:

(1)  Each public depositor must ensure that the name of the public depositor is on the account or certificate or other form provided to the public depositor by the qualified public depository in a manner sufficient to identify that the account is a public deposit.

(2)  Each public depositor who has assets on deposit in a qualified public depository that is in default or is insolvent must notify the Treasurer of that fact immediately after receiving notice of the default or insolvency from the receiver of the depository.

(3)  Annually, not later than November 15, each public depositor shall notify the Treasurer of its official name, address, federal employer identification number, and account balances at the close of business on September 30. This notification shall include the name of the institutions with whom accounts are established and, for each institution listed, the account name, number, balance, type, and federal employer identification number.

(4)  A public entity established during the year shall furnish its official name, address, and federal employer identification number to the Treasurer prior to making any public deposit.

(5)  If a public depositor does not comply with this section, the protection from loss provided in s. 280.18 is not effective as to that public depositor.

History.--s. 21, ch. 87-409; s. 12, ch. 88-185; s. 24, ch. 91-244; s. 16, ch. 96-216.