Chapter 280, Florida Statutes, and Rule 69C-2.004,
Florida Administrative Code, Definitions.


"Authorized Agent for Reports"means a corporation other than the qualified public depository that is authorized to file the Public Depository Monthly Report, Form J1-1003Acrobat Reader required to view this file., adopted in Rule 69C-2.009(1)(d), and the Qualified Public Depository Annual Report to the Chief Financial Officer, Form J1-1004Acrobat Reader required to view this file., adopted in Rule 69C-2.009(1)(e), with the Chief Financial Officer. "Authorized Agent for Transactions" means a corporation other than the qualified public depository or the operating subsidiary, if one is used, that is authorized to execute collateral transactions.

"Average daily balance" means the average daily balance of public deposits held during the reported month. The average daily balance must be determined by totaling, by account, the daily balances held by the depositor and then dividing the total by the number of calendar days in the month. Deposit insurance is then deducted from each account balance and the resulting amounts are totaled to obtain the average daily balance.

"Average monthly balance" means the average monthly balance of public deposits held, before deducting deposit insurance, by the depository during any 12 calendar months. The average monthly balance of the previous 12 calendar months must be determined by adding the average daily balance before deducting deposit insurance for the reported month and the average daily balances before deducting deposit insurance for the 11 months preceding that month and dividing the total by 12.

"Capital Account" is as defined in Chapter 280, Florida Statutes. "Capital account" means total equity capital, as defined on the balance sheet portion of the Consolidated Reports of Condition and Income (call report) or the Thrift Financial Report, less intangible assets, as submitted to the regulatory banking authority.

"Certificate of Qualified Public Depository" means a certification, Form J1-1002, "Certificate of Qualified Public Depository", adopted in Rule 69C-2.009(1)(c), from the Chief Financial Officer to each bank or savings association which has met all of the necessary requirements under the law and rules to hold public deposits.

"Collateral Control Agreement" means a written certified agreement, on Form J1-1001Acrobat Reader required to view this file., "Collateral Control Agreement", adopted in Rule 69C-2.009(1)(b), executed on behalf of the Chief Financial Officer, wherein a bank or savings association, in compliance with the Act and as a condition precedent to becoming or continuing to be a qualified public depository, and an operating subsidiary, if one is used, agrees to transfer and deliver securities which are eligible collateral to a custodian, or an agent of the custodian if elected, which agrees to safekeep such securities for the primary benefit of the Chief Financial Officer. The securities shall be pledged to the Chief Financial Officer and shall not be withdrawn without the Chief Financial Officer's consent under the terms and conditions of the agreement, and for the purposes set forth by the Act and rules.

"Collateral pledging level," for qualified public depositories, means the percentage of collateral required to be pledged as provided in s. 280.04.

"Contingent Liability Agreement" (a) means a written certified agreement on Form J1-1000Acrobat Reader required to view this file., "Contingent Liability Agreement", adopted in Rule 69C-2.009(1)(a), wherein a qualified public depository, and an operating subsidiary, if one is used, shall guarantee public depositors against loss caused by the default or insolvency of other Qualified Public Depositories. (b) The bank or savings association accepting and holding public deposits pursuant to Chapter 280, Florida Statutes, has the responsibility for determining what accounts are public deposits, and for properly reporting and collateralizing such accounts in compliance with the "Florida Security for Public Deposits Act". (c) The signed agreement shall remain in effect until replaced with an updated agreement, or until the depository's contingent liability in the Public Deposits Program expires.

"Current month" means the month immediately following the month for which the monthly report is due from qualified public depositories.

"Custodian" means the Chief Financial Officer or any bank, savings association, or trust company that: (a) Is organized and existing under the laws of this state, any other state, or the United States; (b) Has executed all forms required under this chapter or any rule adopted hereunder; (c) Agrees to be subject to the jurisdiction of the courts of this state, or of courts of the United States which are located within this state, for the purpose of any litigation arising out of this chapter; and (d) Has been approved by the Chief Financial Officer to act as a custodian.

"Day" shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banks in the State of Florida are authorized or obligated by law or executive order to close. In computing any period of time prescribed or allowed by these rules, or by any applicable statute, the day of the act, event or default from which the designated period of time begins shall not be included. The last day of the period so computed shall be included unless it is a Saturday, Sunday or legal holiday, in which event the period shall run until the end of the next day which is neither a Saturday, Sunday or legal holiday. When the period of time prescribed or allowed is less than seven days, intermediate Saturdays, Sundays and legal holidays shall be excluded in the computation.

"Default or insolvency" includes, without limitation, the failure or refusal of a qualified public depository to pay any check or warrant drawn upon sufficient and collected funds by any public depositor or to return any deposit on demand or at maturity together with interest as agreed; the issuance of an order by any supervisory authority restraining such depository from making payments of deposit liabilities; or the appointment of a receiver for such depository.

"Deposit Insurance" means the insurance coverage afforded to public deposit accounts pursuant to the provisions of the Federal Deposit Insurance Act.

"Deposit of Collateral" means an electronically transmitted transaction advice citing minimum necessary information in a format as prescribed by the Chief Financial Officer or a model form letter, Form J1-1005Acrobat Reader required to view this file., "Deposit of Collateral", adopted in Rule 69C-2.009(1)(f), citing minimum necessary information. This model form letter or transmission format is to be utilized by each qualified public depository to advise its custodian agent and the Chief Financial Officer of the description and amounts of pledged collateral.

"Effective date of notice of withdrawal or order of discontinuance" pursuant to s. 280.11(3) means that date which is set out as such in any notice of withdrawal or order of discontinuance from the Chief Financial Officer.

"Eligible collateral" means securities as designated in s. 280.13.

"Financial institution" means, including, but not limited to, an association, bank, brokerage firm, credit union, industrial savings bank, savings and loan association, trust company, or other type of financial institution organized under the laws of this state or any other state of the United States and doing business in this state or any other state, in the general nature of the business conducted by banks and savings associations.

"Governmental unit" means the state or any county, school district, community college district, special district, metropolitan government, or municipality, including any agency, board, bureau, commission, and institution of any of such entities, or any court.

"Loss to public depositors" means loss of all principal and all interest or other earnings on the principal accrued or accruing as of the date the qualified public depository was declared in default or insolvent.

"Offset" means the right which exists between two parties each of whom, under an independent contract, owes an ascertained amount to the other to set off their respective debts by way of mutual deduction.

"Operating Subsidiary" means a corporation which is 100 per cent owned by a qualified public depository, and which has no powers beyond those which its parent qualified public depository may itself exercise.

"Previous month" means the month or months immediately preceding the month for which a monthly report is due from qualified public depositories.

"Public deposit" means the moneys of the state or of any county, school district, community college district, special district, metropolitan government, or municipality, including agencies, boards, bureaus, commissions, and institutions of any of the foregoing, or of any court, and includes the moneys of all county officers, including constitutional officers, that are placed on deposit in a bank or savings association and for which the bank or savings association is required to maintain reserves, including, but not limited to, time deposit accounts, demand deposit accounts, and certificates of deposit. All certificates of deposit, whether negotiable or nonnegotiable, shall be considered deposits and shall be subject to the provisions of this chapter. Moneys used in repurchase or reverse repurchase operations are investments and are not public deposits as defined in this subsection.

"Public Deposit Claim Form and Agreement" means a written Form J1-1012Acrobat Reader required to view this file., "Public Deposit Claim Form and Agreement", adopted in Rule 69C-2.009(1)(m), wherein a public depositor describes under oath the details of an uncompensated loss of a public deposit due to the default or insolvency of a qualified public depository and agrees to the terms under which the public depositor agrees to abide in order to receive payment from the Chief Financial Officer.

"Public Deposit Identification and Acknowledgment Form" means the form prescribed by the Chief Financial Officer, Form J1-1295Acrobat Reader required to view this file., "Public Deposit Identification and Acknowledgment Form", adopted in Rule 69C-2.009(1)(n), wherein a public depositor identifies each Florida public deposit account and obtains acknowledgment of this identification from the qualified public depository.

"Public depositor" means the Chief Financial Officer or other chief financial officer or designee responsible for handling public deposits.

"Public Depositor Annual Report to the Chief Financial Officer" means an electronically transmitted report in a format approved by the Chief Financial Officer, or a written report on Form J1-1009Acrobat Reader required to view this file., "Public Depositor Annual Report to the Chief Financial Officer", adopted in Rule 69C-2.009(1)(j), submitted annually to the Chief Financial Officer by each public depositor as required by Section 280.17, Florida Statutes.

"Public Depository Monthly Report" means an electronically transmitted report in a format prescribed by the Chief Financial Officer, or a certified report on Form J1-1003Acrobat Reader required to view this file., "Public Depository Monthly Report, Worksheet, and Instructions for Completing", adopted in Rule 69C-2.009(1)(d). Each qualified public depository shall submit to the Chief Financial Officer a monthly report by the 15th day of each calendar month. The report shall include information relative to public deposits held by the depository during the reported calendar month, the status of its equity capital, intangible assets, other financial information as required, and the amount of its required collateral.

"Public Deposits" are those funds defined in Chapter 280, Florida Statutes.

"Public deposits program" means the administration of this chapter by or on behalf of the Chief Financial Officer.

"Qualified public depository" means any bank, savings bank, or savings association that: (a) is organized and exists under the laws of the United States, the laws of this state or any other state or territory of the United States; (b) has its principal place of business in this state or has a branch office in this state which is authorized under the laws of this state or of the United States to receive deposits in this state; (c) has deposit insurance under the provision of the Federal Deposit Insurance Act, as amended, 12 U.S.C. ss. 1811 et seq; (d) has procedures and practices for accurate identification, classification, reporting, and collateralization of public deposits; (e) meets all the requirements of this chapter; (f) has been designated by the Chief Financial Officer as a qualified public depository.

"Qualified Public Depository Annual Report to the Chief Financial Officer" means an electronically transmitted report in a format prescribed by the Chief Financial Officer, or a certified report on Form J1-1004Acrobat Reader required to view this file., "Qualified Public Depository Annual Report to the Chief Financial Officer," adopted in Rule 69C-2.009(1)(e), submitted annually to the Chief Financial Officer by each qualified public depository indicating all public deposits held for the credit of all public depositors as required by Section 280.16, Florida Statutes. The report must be completed by a person authorized as required in Rule 69C-2.032 and who shall not be involved in the preparation or execution of the September monthly report.

"Reported month" means the month for which a monthly report is due from qualified public depositories.

"Required collateral" of a qualified public depository means eligible collateral having a market value equal to or in excess of the amount required to be pledged pursuant to s. 280.04 as computed and reported monthly or when requested by the Chief Financial Officer.

"Submit" means the date electronically transmitted or the postmark date.

"Substitution of Collateral" means an electronically transmitted request in a format prescribed by the Chief Financial Officer, or a model form letter, Form J1-1005Acrobat Reader required to view this file. Deposit of Collateral and Form J1-1007Acrobat Reader required to view this file. Withdrawal of Collateral, adopted in Rule 69C-2.009(1)(g). This model form letter or transmission format is to be utilized by each qualified public depository to advise its custodian agent and the Chief Financial Officer of the description and amounts of pledged collateral to be released, and the description and amounts of the collateral to be deposited as a substitute.

"Chief Financial Officer" means the Chief Financial Officer of the State of Florida.

"Withdrawal of Collateral" means an electronically transmitted request in a format prescribed by the Chief Financial Officer or a model form letter, Form J1-1007Acrobat Reader required to view this file., "Withdrawal of Collateral", adopted in Rule 69C-2.009(1)(h). The model form letter, or other approved transmission format, is to be utilized by each qualified public depository to request the Chief Financial Officer to release pledged collateral and to advise the custodian agent of the Chief Financial Officer's approval or disapproval of the request.



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