August 08, 2020
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The Florida Statutes

The 2001 Florida Statutes

Title XIX
Public Business
Chapter 280
Security For Public Deposits
View Entire Chapter
Section 280.07, Florida Statutes 2001

280.07  Mutual responsibility and contingent liability.--Any 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 qualified public depositories. Each qualified public depository shall execute a form prescribed by the Treasurer for such guarantee which shall be approved by the board of directors and shall 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.

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