Definitions, Qualifications for Participation by Banks and Savings Associations, Disqualification, Suspension, and Administrative Penalty
DEPARTMENT OF FINANCIAL SERVICES
RULE NOS.:RULE TITLES:
69C-2.004Definitions
69C-2.005Qualifications for Participation by Banks and Savings Associations
69C-2.034Disqualification, Suspension, and Administrative Penalty
NOTICE OF CHANGE
Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 50 No. 130, July 3, 2024 issue of the Florida Administrative Register.
69C-2.004 Definitions.
For the purpose of this chapter, the term:
(1) through (7) No change.
(8) “Official custodian” means an individual which has plenary authority, including control, over funds owned by the public unit which the custodian is appointed or elected to serve. Control of public funds includes possession, as well as the authority to establish accounts for such funds in insured depository institutions and to make deposits, withdrawals, and disbursements of such funds has the same meaning as established in 12 C.F.R. § 330.15.
(a) If an official custodian has control of funds of more than one public unit, he or she shall be separately insured with respect to the funds held by him or her for each such public unit, but shall not be separately insured by virtue of holding different offices in such public unit or holding such funds for different purposes.
(b) If an official custodian has exercise of authority or control over the funds of a public unit requires action by, or the consent of, two or more officers, employees, or agents of such public unit, then they will be treated as one “official custodian” for the purposes of this chapter.
(9) through (19) No change.
Rulemaking Authority 280.04, 280.041, 280.10, 280.13, 280.19, FS. Law Implemented 17.001, 280.02, 280.03, 280.04, 280.041, 280.05, 280.10, 280.13, 280.16, FS. History–New 2-25-82, Amended 5-17-84, 11-29-84, Formerly 4C-2.04, Amended 4-10-86, 6-28-88, 1-23-91, 7-12-92, 5-27-97, 4-5-99, Formerly 4C-2.004, Amended .
69C-2.005 Designation of a Qualified Public Depository.
(1) To be an applicant, an entity must complete and submit Form DFS-J1-1516, Application or Reapplication for Designation, effective _____, incorporated herein by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____. the following in accordance with the instructions therein:
(a) Form DFS-J1-1516, Application or Reapplication for Designation, effective _____, incorporated herein by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____;
(b) Form DFS-J1-1000, Contingent Liability Agreement, effective _____, incorporated herein by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____;
(c) Form DFS-J1-1511, Qualified Public Depository Resolutions, effective _____, incorporated herein by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____;
(d) Form DFS-J1-1013, Attestation Statement for Qualified Public Depositories, effective _____, incorporated by reference in Rule 69C-2.033, F.A.C.; and
(e) if using an operating subsidiary, complete and submit Form DFS-J1-1512, Operating Subsidiary Resolutions, effective _____, incorporated herein by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____.
(2) No change.
(3) After the applicant has met the requirements of subsection (2), the Chief Financial Officer will, except as provided in chapter 280, F.S., notify the applicant in writing that before it can be designated by the Chief Financial Officer as a qualified public depository, it must:
(a) No change.
(b) complete the required deposit of collateral in accordance with section 280.04, F.S., and Rules 69C-2.006 and 69C-2.0061, F.A.C.; and
(c) if required, submit a signed statement pursuant to section 280.042, F.S.;
(d) complete and submit Form DFS-J1-1000, Contingent Liability Agreement, effective _____, incorporated herein by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____;
(e) complete and submit Form DFS-J1-1511, Qualified Public Depository Resolutions, effective _____, incorporated herein by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____;
(f) complete and submit Form DFS-J1-1013, Attestation Statement for Qualified Public Depositories, incorporated by reference in Rule 69C-2.033, F.A.C.; and
(g) if using an operating subsidiary, complete and submit Form DFS-J1-1512, Operating Subsidiary Resolutions, effective _____, incorporated herein by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____.
(4) through (6) No change.
Rulemaking Authority 280.04, 280.041, 280.10, 280.19, FS. Law Implemented 120.60, 280.02, 280.025, 280.04, 280.04, 280.041, 280.042, 280.05, 280.07, 280.16, FS. History–New 2-25-82, Amended 11-29-84, Formerly 4C-2.05, Amended 4-10-86, 6-28-88, 1-23-91, 7-12-92, Formerly 4C-2.005, Amended .
69C-2.034 Disqualification, Suspension, and Administrative Penalty.
(1) through (2) No change.
(3) Mitigating and Aggravating Factors. In determining the appropriate disciplinary action to be imposed under sections 280.053 and 280.54, F.S., the Chief Financial Officer will consider aggravating and mitigating factors under the circumstances, which includes:
(a) through (g) No change.
(h) the length of time since the date of the violation; and
(i) the number of previous disciplinary cases filed against the qualified public depository.; and
(j) any other relevant mitigating or aggravating circumstances.
Rulemaking Authority 280.052, 280.19, FS. Law Implemented 280.02, 280.025, 280.03, 280.04, 280.041, 280.05, 280.051, 280.052, 280.053, 280.054 280.54, 280.055, 280.06, 280.07, 280.08, 280.10, 280.11, 280.13, 280.16, 280.17, FS. History–New .
