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Current as of January 01, 2023 | Updated by FindLaw Staff
(1) The Chief Financial Officer shall administer a collateral management service for all state agencies as defined in s. 216.011, or any county, city, or political subdivision thereof, or other public authority that requires by statute, rule, or contract the deposit or pledge of collateral.
(2) Eligible collateral listed in s. 17.57 may be deposited or pledged using the following collateral arrangements as approved by the Chief Financial Officer:
(a) Collateral deposited and held by a custodian of the Chief Financial Officer.
(b) Collateral pledged to the Chief Financial Officer.
(c) Securities and articles of value deposited and held by the Chief Financial Officer.
(d) Cash deposited in the Treasury Cash Deposit Trust Fund and the Public Deposit Security Trust Fund.
(e) Cash deposited with the Chief Financial Officer as escrow agent.
(3) The Chief Financial Officer may, in his or her discretion, establish a fee for processing, servicing, and safekeeping deposits and other documents or articles of value maintained by the Chief Financial Officer as requested by the various entities according to a service-level agreement or as provided for by law. Such fee shall be equivalent to the fee charged by financial institutions for processing, servicing, and safekeeping the same types of deposits and other documents or articles of value.
(4) The Chief Financial Officer shall collect in advance, and persons so served shall pay to the Chief Financial Officer in advance, the miscellaneous charges as described in a service-level agreement.
(5) All fees collected for the services described in this section shall be deposited in the Treasury Administrative and Investment Trust Fund.
Cite this article: FindLaw.com - Florida Statutes Title IV. Executive Branch § 17.59. Safekeeping services - last updated January 01, 2023 | https://codes.findlaw.com/fl/title-iv-executive-branch/fl-st-sect-17-59/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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