(1) Upon determining the default or insolvency of a qualified public depository, the Chief Financial Officer shall notify, by first-class mail, all public depositors that have complied with s. 280.17 of such default or insolvency. The notice must direct all public depositors having claims or demands against the Public Deposits Trust Fund occasioned by the default or insolvency to file their claims with the Chief Financial Officer within 30 days after the date of the notice.
(2) A claim against the Public Deposits Trust Fund is binding on the fund only if presented within 30 days after the date of the notice.
(3) This section does not affect any proceeding to:
(a) Enforce any real property mortgage, chattel mortgage, security interest, or other lien on property of a qualified public depository that is in default or insolvency; or
(b) Establish liability of a qualified public depository that is in default or insolvency to the limits of any federal or other casualty insurance protection.
(4) The notice required in subsection (1) is not required if the default or insolvency of a qualified public depository is resolved in a manner in which all Florida public deposits are acquired by another insured bank, savings bank, or savings association.
History.—s. 14, ch. 87-409; s. 17, ch. 91-244; s. 299, ch. 2003-261; s. 7, ch. 2014-145.
Structure Florida Statutes
Chapter 280 - Security for Public Deposits
280.03 - Public Deposits to Be Secured; Prohibitions; Exemptions.
280.04 - Collateral for Public Deposits; General Provisions.
280.041 - Collateral Arrangements; Agreements, Provisions, and Triggering Events.
280.05 - Powers and Duties of the Chief Financial Officer.
280.051 - Grounds for Suspension or Disqualification of a Qualified Public Depository.
280.052 - Order of Suspension or Disqualification; Procedure.
280.053 - Period of Suspension or Disqualification; Obligations During Period; Reinstatement.
280.054 - Administrative Penalty in Lieu of Suspension or Disqualification.
280.055 - Cease and Desist Order; Corrective Order; Administrative Penalty.
280.06 - Penalty for Violation of Law, Rule, or Order to Cease and Desist or Other Lawful Order.
280.07 - Mutual Responsibility and Contingent Liability.
280.08 - Procedure for Payment of Losses.
280.085 - Notice to Claimants.
280.09 - Public Deposits Trust Fund.
280.10 - Effect of Merger, Acquisition, or Consolidation; Change of Name or Address.
280.11 - Withdrawal From Public Deposits Program; Return of Pledged Collateral.
280.16 - Requirements of Qualified Public Depositories; Confidentiality.
280.18 - Protection of Public Depositors; Liability of the State.