Go to Previous Versions of this Section
  1. 2025 Florida Stat. (here)
  2. 2024 Florida Stat.
  3. 2023 Florida Stat.
  4. View All Versions

2025 Florida Statutes
Title XIX - Public Business
Chapter 280 - Security for Public Deposits
280.07 - Mutual Responsibility and Contingent Liability.

Universal Citation:
FL Stat § 280.07 (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
Previous Next
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.

Previous Next
Disclaimer: These codes may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.