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Florida Statute 280.03 - Full Text and Legal Analysis
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The 2025 Florida Statutes

Title XIX
PUBLIC BUSINESS
Chapter 280
SECURITY FOR PUBLIC DEPOSITS
View Entire Chapter
F.S. 280.03
280.03 Public deposits to be secured; prohibitions; exemptions.—
(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).
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.

F.S. 280.03 on Google Scholar

F.S. 280.03 on CourtListener

Amendments to 280.03


Annotations, Discussions, Cases:

Cases Citing Statute 280.03

Total Results: 3

Ago

Florida Attorney General Reports | Filed: Jun 30, 1997 | Docket: 3257924

Published

associations from the definition of a bank.8 Further, section 280.03(1), Florida Statutes, recognizes that all "public

Ago

Florida Attorney General Reports | Filed: Sep 20, 1983 | Docket: 3256299

Published

Treasurer as a qualified public depository. Section 280.03, F.S. as amended by s 8 of Ch. 83-122, Laws

Ago

Florida Attorney General Reports | Filed: Aug 26, 1982 | Docket: 3256436

Published

Revision to Chapter 280 of the Florida Statutes. Section 280.03, F.S., provides the basic requirement of the