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Florida Administrative Code (Last Updated: December 2, 2024) |
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69. Department of Financial Services |
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69C. Division of Treasury |
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69C-2. THE FLORIDA SECURITY FOR PUBLIC DEPOSITS ACT |
1(1) The total funds held in the state treasury means funds that are invested pursuant to section 1817.61, F.S. 20and that are not needed to meet the disbursement needs of the state pursuant to section 3617.57, F.S.
38(2) If public deposits held by a credit union designated as a qualified public depository exceed the threshold specified in subsection 280.042(3)(a)1., F.S., the Chief Financial Officer will issue a corrective order requiring reduction of public deposits at or below the threshold within 30 calendar days from the date of the order.
90(3) If public deposits held by a credit union designated as a qualified public depository exceed the threshold specified in subsection 280.042(3)(b), F.S., the Chief Financial Officer will issue a corrective order requiring reduction of public deposits at or below the threshold within 30 calendar days from the date of the order.
142(4) No penalty will be assessed to a public depositor due to a credit union’s noncompliance with this rule.
161Rulemaking Authority 163280.19 FS. 165Law Implemented 16717.57, 16817.61, 169280.042, 170280.055 FS. 172History–New 12-9-24.
