# Fla. Stat. § 280.03: 280.03 Public deposits to be secured; prohibitions; exemptions

> Florida · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.03

## Section

- **Citation:** Fla. Stat. § 280.03
- **Heading:** 280.03 Public deposits to be secured; prohibitions; exemptions
- **Jurisdiction:** Florida
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Florida Code / Title XIX / Chapter 280 / Section 280.03

## Text

(1)(a) All public deposits shall be secured as provided in this chapter when public depositors comply with the requirements of this chapter. (b) Public deposits shall be made in a qualified public depository unless exempted by law.

(2) Public funds shall not be deposited directly or indirectly in negotiable certificates of deposit.

(3) The following are exempt from the requirements of, and protection under, this chapter: (a) Public deposits deposited in a bank, credit union, or savings association by a trust department or trust company which are fully secured under trust business laws. (b) Moneys of the System Trust Fund, as defined in s. 121.021(36). (c) Public deposits held outside the country. (d) Wire transfers and transfers of funds solely for the purpose of paying registrars and paying agents. (e) Public deposits that are fully secured by a collateral requirement under federal regulations. (f) Public deposits made in accordance with s. 17.57(7) or s. 218.415(23).

History: s. 3, ch. 81-285; s. 8, ch. 83-122; s. 2, ch. 85-259; s. 55, ch. 86-152; s. 4, ch. 86-236; s. 2, ch. 87-409; s. 6, ch. 90-357; s. 2, ch. 93-75; s. 5, ch. 96-216; s. 17, ch. 97-30; s. 12, ch. 98-409; s. 3, ch. 2005-126; s. 2, ch. 2014-145; s. 69, ch. 2024-140.

## Nearby sections

- [Fla. Stat. § 280.01 280.01 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.01.md)
- [Fla. Stat. § 280.02 280.02 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.02.md)
- [Fla. Stat. § 280.03 280.03 Public deposits to be secured; prohibitions; exemptions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.03.md)
- [Fla. Stat. § 280.04 280.04 Collateral for public deposits; general provisions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.04.md)
- [Fla. Stat. § 280.05 280.05 Powers and duties of the Chief Financial Officer.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.05.md)
- [Fla. Stat. § 280.06 280.06 Penalty for violation of law, rule, or order to cease and desist or other lawful order.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.06.md)
- [Fla. Stat. § 280.07 280.07 Mutual responsibility and contingent liability.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.07.md)
- [Fla. Stat. § 280.08 280.08 Procedure for payment of losses.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.08.md)
- [Fla. Stat. § 280.09 280.09 Public Deposits Trust Fund.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.09.md)
- [Fla. Stat. § 280.10 280.10 Effect of merger, acquisition, or consolidation; change of name or address.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.10.md)
- [Fla. Stat. § 280.11 280.11 Withdrawal from public deposits program; return of pledged collateral.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.11.md)
- [Fla. Stat. § 280.13 280.13 Eligible collateral.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.13.md)
- [Fla. Stat. § 280.16 280.16 Requirements of qualified public depositories; confidentiality.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.16.md)
- [Fla. Stat. § 280.17 280.17 Requirements for public depositors; notice to public depositors and governmental units; loss of protection.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.17.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIX_C280_S280.03. Check the current official text before relying on it. Not legal advice.