Information on Participation


Florida Public Deposits Program
Regular Custodian Applicant Information

Banks, savings associations, and trust companies that hold collateral for qualified public depositories (QPDs) pledged to secure public deposits pursuant to the Florida Security for Public Deposits Act are described as "regular" custodians. This distinguishes them from "Chief Financial Officer's" custodians that are bound under a distinct custody contract directly with the Chief Financial Officer.

The statutory requirements for eligibility are:

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

QPDs select the "regular" custodians they wish to use and submit agreements to them for signatures. These collateral control agreements, Collateral Control Agreement Form J1-1001 Acrobat Reader required to view this file., contain the requirements for custodians holding pledged collateral.



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