Trust Business Deposits

Pursuant to Section 660.27, Florida Statutes, trust companies, state or national banks and state or federal associations having trust powers shall give satisfactory security by the deposit or pledge of securities to the State Chief Financial Officer. Any notes, mortgages, bonds or other securities, other than shares of stock, eligible for investment by a state bank, association or trust company (see Section 658.67, Florida Statutes) are eligible securities to be pledged. 

The trust company, bank, or association shall provide to the Chief Financial Officer the following information:

a. Full legal name
b. Federal employer identification number
c. Principal place of business
d. Amount of capital stock
e. Amount of required collateral
This information must be provided each year as of September 30th and is due November 15th.

The depositing institution must maintain on file with Collateral Administration an Authorized Signature Certification Form and a Custodian Information Form. Forms should be sent to: 
 
Mailing address:
Division of Treasury
Bureau of Collateral Management
Collateral Administration Section
200 East Gaines Street
Tallahassee, FL 32399-0345
Fax to:
(850)413-2721

Links

 
 

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