Florida Statute 280.07 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XIX
PUBLIC BUSINESS

Chapter 280
SECURITY FOR PUBLIC DEPOSITS

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F.S. 280.07

280.07 Mutual responsibility and contingent liability.—

(1) A bank, savings 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 banks, savings banks, or savings associations that are designated as qualified public depositories.

(2) A credit union 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 credit unions that are designated as qualified public depositories.

Each qualified public depository shall execute a form prescribed by the Chief Financial Officer for such guarantee which must be approved by the board of directors and must become an official record of the institution.

History.—s. 3, ch. 81-285; s. 12, ch. 87-409; s. 15, ch. 98-409; s. 8, ch. 2001-230; s. 296, ch. 2003-261; s. 75, ch. 2024-140.

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Amendments to 280.07

Arrestable Offenses / Crimes under Fla. Stat. 280.07

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 280.07.

Annotations, Discussions, Cases:

Cases Citing Statute 280.07

Total Results: 1

Hall v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2000-05-12T00:00:00-07:00

Citation: 762 So. 2d 936, 2000 Fla. App. LEXIS 5570, 2000 WL 571382

Snippet: reservations. See Act of August 15, 1953, No. 280, § 7, 67 Stat. 588, 590 (1953).1 This Act, also known