1These rules establish procedures for the administration of the “Florida Security for Public Deposits Act,” which is encompassed in chapter 280, F.S. These rules also establish guidelines for qualification and participation by banks and savings associations doing business in the state; procedures for the administration of the collateral requirements of the Act; eligible collateral criteria and restrictions; forms to be used in administration of the Act; effect of filing information, reports and/or forms electronically; additional reports and inspections necessary for administration of the Act; interim reports to be published by the Chief Financial Officer; assessment calculation; requirements of public depositors; task force membership criteria; criteria and guidelines to be used by the Chief Financial Officer in administering and protecting the integrity of the Public Deposits Program; administration of payment of losses and related expenses; and effective date of withdrawal due to an acquisition or merger.
