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DESCRIPTION:NOTICE OF PROPOSED RULEDEPARTMENT OF FINANCIAL SERVICESDIVISION
  OF TREASURYRULE NO.:&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbs
 p\;&nbsp\;&nbsp\; RULE TITLE: 69C-2.001 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Purpose69C-2.002 &nbsp\;&nbsp\
 ;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Scope69C-
 2.004 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp
 \;&nbsp\; Definitions69C-2.005 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&
 nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Designation of a Qualified Public Depos
 itory Qualifications for Participation by Banks and Savings Associations69
 C-2.0051 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; C
 hange to a Qualified Public Depository or Operating Subsidiary69C-2.006 &n
 bsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ; Administration of Collateral Requirements69C-2.0061 &nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Maintenance of Pledged Collate
 ral69C-2.007 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp
 \;&nbsp\;&nbsp\; Eligible Collateral Criteria and Restrictions69C-2.009 &n
 bsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ; Forms69C-2.0095 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;
 &nbsp\; Electronic Data Transmission of Information\, Reports\, and Forms6
 9C-2.010 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&n
 bsp\;&nbsp\; Inspection and Verification of Financial Information Addition
 al Reports and Inspections69C-2.011 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nb
 sp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Interim Reports by the Chief Finan
 cial Officer69C-2.016 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nb
 sp\;&nbsp\;&nbsp\;&nbsp\; Financial Information Reports by a Qualified Pub
 lic Depository69C-2.021 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&
 nbsp\;&nbsp\;&nbsp\;&nbsp\; Assessment Calculation69C-2.022 &nbsp\;&nbsp\;
 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Requiremen
 ts of Public Depositors69C-2.024 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Criteria for Assigning Minimum Pledge
  Percentages and Guidelines to be Used by the Chief Financial Officer in A
 dministering and Protecting the Integrity of the Public Deposits Program69
 C-2.026 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nb
 sp\;&nbsp\; Administration of Payment of Losses69C-2.027 &nbsp\;&nbsp\;&nb
 sp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Voluntary Wit
 hdrawal Effective Date of Withdrawal Due to an Acquisition or Merger.69C-2
 .028 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\; Ownership of Collateral by an Operating Subsidiary of the Qualifi
 ed Public Depository69C-2.029 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&n
 bsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Use of an Authorized Agent by a Qualifie
 d Public Depository69C-2.030 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nb
 sp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Use of an Agent Agents by a Custodian Cus
 todians of Collateral69C-2.031 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&
 nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Confirmation Information of Pledged Col
 lateral Format for Confirmations from Custodians69C-2.032 &nbsp\;&nbsp\;&n
 bsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Proof of Aut
 hority for the Execution of Forms\, Proof of Authorization69C-2.034&nbsp\;
 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbs
 p\; Disqualification\, Suspension\, and Administrative Penalty&nbsp\;PURPO
 SE AND EFFECT: This rulemaking modernizes the regulatory criteria and proc
 edures for chapter 280\, Florida Statutes\, the Florida Security for Publi
 c Deposits Act (the Act). Modernization of the Act includes simplifying an
 d clarifying the regulatory criteria and processes\, including improving t
 he functionality of the incorporated material. This rulemaking also\, in p
 art\, implements section 70 of chapter 2024-140\, Laws of Florida\, which 
 promulgates section 280.042\, Florida Statutes\, effective July 1\, 2024. 
 Section 280.042 sets forth policies whereby credit unions may participate 
 as a qualified public depository in the public deposits program with certa
 in limitations. A new rule\, 69C-2.0051\, is proposed to clarify when a qu
 alified public depository must execute new Act agreements and resolutions 
 and report a change in name and/or address. A new rule\, 69C-2.0061\, is p
 roposed to simplify the process for a qualified public depository to depos
 it or pledge the required collateral\, which combines the functionality of
  three (3) forms into one (1). A new rule\, 69C-2.016\, clarifies and simp
 lifies the criteria and process for a qualified public depository to submi
 t monthly\, preliminary\, and annual reports. A new rule\, 69C-2.034\, is 
 proposed to establish the criteria and process for discipline of a qualifi
 ed public depository or an applicant seeking designation as a qualified pu
 blic depository. Rules to be repealed include: 69C-2.001\, 2.002\, 2.009\,
  2.0095\, 2.011\, and 2.021. The rationale for each repeal is due to the r
 ules being unnecessary or duplicative of statute.&nbsp\;SUMMARY: This rule
 making includes simplifying\, clarifying\, and improving the functionality
  of the regulatory criteria and processes relating to the Act\, as well as
  implementing section 70 of chapter 2024-140\, Laws of Florida.&nbsp\;SUMM
 ARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATIO
 N: The Agency has determined that this will not have an adverse impact on 
 small business or likely increase directly or indirectly regulatory costs 
 in excess of $200\,000 in the aggregate within one year after the implemen
 tation of the rule.&nbsp\; A SERC has not been prepared by the Agency.The 
 Agency has determined that the proposed rule is not expected to require le
 gislative ratification based on the statement of estimated regulatory cost
 s or if no SERC is required\, the information expressly relied upon and de
 scribed herein: The Department&rsquo\;s economic analysis of the potential
  impact of the proposed rule amendments determined that there will be no a
 dverse economic impact or increased regulatory costs that would require le
 gislative ratification.Any person who wishes to provide information regard
 ing the statement of estimated regulatory costs\, or to provide a proposal
  for a lower cost regulatory alternative must do so in writing within 21 d
 ays of this notice. &nbsp\;RULEMAKING AUTHORITY: 280.04\, 280.041\, 280.05
 2\, 280.054\, 280.07\, 280.10\, 280.13\, 280.16\, 280.17\, 280.19\, FS.&nb
 sp\;LAW IMPLEMENTED: 17.57\, 120.60\, 280.01\, 280.02\, 280.025\, 280.03\,
  280.04\, 280.041\, 280.042\, 280.05\, 280.051\, 280.052\, 280.053\, 280.5
 4\, 280.055\, 280.06\, 280.07\, 280.08\, 280.085. 280.09. 280.10\, 280.11\
 , 280.13\, 280.16\, 280.17\, 280.18\, FS.&nbsp\;A HEARING WILL BE HELD AT 
 THE DATE\, TIME AND PLACE SHOWN BELOW:DATE AND TIME: July 11\, 2024\, 10:3
 0 a.m.PLACE: Please join my meeting from your computer\, tablet or smartph
 one. https://global.gotomeeting.com/join/626020717You can also dial in usi
 ng your phone. United States (Toll Free): 1(866)899-4679\, United States: 
 (571)317-3116\, Access Code: 626-020-717Join from a video-conferencing roo
 m or system. Dial in or type: 67.217.95.2 or inroomlink.goto.com\, Meeting
  ID: 626 020 717 or dial directly: 626020717@67.217.95.2 or 67.217.95.2##6
 26020717Pursuant to the provisions of the Americans with Disabilities Act\
 , any person requiring special accommodations to participate in this works
 hop/meeting is asked to advice the agency at least 7 days before the works
 hop/meeting by contacting: Sarah Pons\, Bureau Chief\, Bureau of Collatera
 l Management\, at Sarah.Pons@myfloridacfo.com\, or (850)4133383.If you are
  hearing or speech impaired\, please contact the agency using the Florida 
 Relay Service\, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).&nbsp\;THE 
 PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Sarah Pons\, Bureau
  Chief\, Bureau of Collateral Management\, telephone (850)413-3383\, email
  Sarah.Pons@myfloridacfo.com.&nbsp\;THE FULL TEXT OF THE PROPOSED RULE IS:
  69C-2.001 PurposeRulemaking Authority \, 280.041(7)\, 280.19 FS. Law Impl
 emented 280 FS. History&ndash\;New 2-25-82\, Amended 11-29-84\, Formerly 4
 C-2.01\, Amended 6-28-88\, Repromulgated 1-23-91\, Formerly 4C-2.001\, Rep
 ealed &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;69C-2.002 ScopeRul
 emaking Authority 280.19\, 280.041(7) FS. Law Implemented 280 FS. History&
 ndash\;New 2-25-82\, Amended 11-29-84\, Formerly 4C-2.02\, Amended 4-10-86
 \, 6-28-88\, 1-23-91\, 7-12-92\, Formerly 4C-2.002\, Repealed &nbsp\;&nbsp
 \;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;Substantial rewording of Rule 69C-2.
 004 follows. See Florida Administrative Code for present text.69C-2.004 De
 finitionsFor the purpose of this chapter\, the term:(1) &ldquo\;Applicant&
 rdquo\; means an entity seeking designation by the Chief Financial Officer
  as a qualified public depository in the public deposits program.(2) &ldqu
 o\;Certificate of incumbency&rdquo\; means a document executed pursuant to
  the corporation&rsquo\;s bylaws certifying a corporate officer has the au
 thority to act on behalf of and bind the corporation with respect to an un
 derlying transaction.(3) &ldquo\;Chief Financial Officer&rdquo\; has the s
 ame meaning as in section 17.001\, Florida Statutes (F.S.).(4) &ldquo\;Col
 lateral arrangement agreement\,&rdquo\; also referred to as a &ldquo\;coll
 ateral arrangement&rdquo\; or &ldquo\;collateral agreement\,&rdquo\; means
  an agreement or agreements to protect the interest of the state of Florid
 a through the use of collateral executed under oath that meets the require
 ments of Rule 69C-2.032\, Florida Administrative Code (F.A.C.)\, and is si
 gned by the Chief Financial Officer. Depending on the collateral being ple
 dged\, a collateral arrangement agreement includes one or more of the foll
 owing:(a) Form DFS-J1-1001\, Collateral Control Agreement\, effective ____
 _\, incorporated by reference and available at http://www.flrules.org/Gate
 way/reference.asp?No=Ref-_____\;(b) DFS-J1-1014\, Cash Arrangement Agreeme
 nt\, effective _____\, incorporated by reference and available at http://w
 ww.flrules.org/Gateway/reference.asp?No=Ref-_____\; or(c) Form DFS-J1-1510
 \, the Federal Home Loan Bank Letters of Credit Agreement\, effective ____
 _\, incorporated by reference and available at http://www.flrules.org/Gate
 way/reference.asp?No=Ref-_____.(5) &ldquo\;Custodian&rdquo\; has the same 
 meaning as in section 280.02\, F.S.(6) &ldquo\;Delegate of the public depo
 sitor&rdquo\; means an individual with authority to execute forms on behal
 f of the public depositor\, as established by a copy of:(a) the organizati
 on&rsquo\;s internal documentation\, signed by the official custodian\, st
 ating the delegation of authority by name or title\;(b) the minutes of a b
 oard meeting evidencing adoption of a resolution by the organization's boa
 rd of directors authorizing the individual signing the form by name or tit
 le to sign such a document on behalf of the organization\; or(c) the organ
 ization's charter\, constitution\, bylaws\, or other evidence of the gover
 ning body\, authorizing the individual signing the form by name or title t
 o sign such a document on behalf of the organization.(7) &ldquo\;Federal H
 ome Loan Bank Member Resolution&rdquo\; means Form DFS-J1-1535\, Federal H
 ome Loan Bank Member Resolution\, effective ____\, incorporated herein by 
 reference and available at http://www.flrules.org/Gateway/reference.asp?No
 =Ref-_____.(8) &ldquo\;Official custodian&rdquo\; has the same meaning as 
 established in 12 C.F.R. &sect\; 330.15.(9) &ldquo\;Offset&rdquo\; means t
 he right which exists between two parties each of whom\, under an independ
 ent contract\, owes an ascertained amount to the other to set off their re
 spective debts by way of mutual deduction.(10) &ldquo\;Operating subsidiar
 y&rdquo\; has the same meaning as in section 280.02\, F.S.(11) &ldquo\;Ple
 dgor&rdquo\; has the same meaning as in section 280.02\, F.S.(12) &ldquo\;
 Public deposit&rdquo\; has the same meaning as in section 280.02\, F.S.(13
 ) &ldquo\;Public depositor&rdquo\; has the same meaning as in section 280.
 02\, F.S.(14) &ldquo\;Public deposits program&rdquo\; has the same meaning
  as in section 280.02\, F.S.(15) &ldquo\;Qualified public depository&rdquo
 \; has the same meaning as in section 280.02\, F.S. (16) &ldquo\;Qualifyin
 g change&rdquo\; means an organizational change that impacts the enforceab
 ility of any agreement as it relates to the public deposits program in whi
 ch the Chief Financial Officer is a party. (17) &ldquo\;Report date&rdquo\
 ; means the finalized date of a report.(18) &ldquo\;Required collateral" h
 as the same meaning as in section 280.02\, F.S.(19) &ldquo\;Special identi
 fication number&rdquo\; means an identifying number assigned by the Chief 
 Financial Officer of a qualified public depository provided to a custodian
 .Rulemaking Authority 280.04\, 280.041\, 280.10\, 280.13\, 280.19\, 280.04
 1(7) FS. Law Implemented 17.001\, 175.301\, 185.30\, 280.02\, 280.03\, 280
 .04\, 280.041\, 280.05(16)\, 280.10\, 280.13\, 280.16(1)(b)\, 631.221 FS. 
 History&ndash\;New 2-25-82\, Amended 5-17-84\, 11-29-84\, Formerly 4C-2.04
 \, Amended 4-10-86\, 6-28-88\, 1-23-91\, 7-12-92\, 5-27-97\, 4-5-99\, Form
 erly 4C-2.004\, Amended&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; .&nbsp\;Substan
 tial rewording of Rule 69C-2.005 follows. See Florida Administrative Code 
 for present text.69C-2.005 Designation of a Qualified Public Depository Qu
 alifications for Participation by Banks and Savings Associations(1) To be 
 an applicant\, an entity must submit the following in accordance with the 
 instructions therein:(a) Form DFS-J1-1516\, Application or Reapplication f
 or Designation\, effective _____\, incorporated herein by reference and av
 ailable at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____\;(b) 
 Form DFS-J1-1000\, Contingent Liability Agreement\, effective _____\, inco
 rporated herein by reference and available at http://www.flrules.org/Gatew
 ay/reference.asp?No=Ref-_____\;(c) Form DFS-J1-1511\, Qualified Public Dep
 ository Resolutions\, effective _____\, incorporated herein by reference a
 nd available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____\
 ;(d) Form DFS-J1-1013\, Attestation Statement for Qualified Public Deposit
 ories\, effective _____\, incorporated by reference in Rule 69C-2.033\, F.
 A.C.\; and(e) if using an operating subsidiary\, complete and submit Form 
 DFS-J1-1512\, Operating Subsidiary Resolutions\, effective _____\, incorpo
 rated herein by reference and available at http://www.flrules.org/Gateway/
 reference.asp?No=Ref-_____.(2) After meeting the requirements of subsectio
 n (1)\, the Chief Financial Officer will determine if the applicant meets:
  (a) the definition of a qualified public depository\, except for designat
 ion\, as stated in section 280.02\, F.S.\; and(b) the financial rating est
 ablished for entry in the public deposits program pursuant to section 280.
 04\, F.S.\, and Rule 69C-2.024\, F.A.C.(3) After the applicant has met the
  requirements of subsection (2)\, the Chief Financial Officer will\, excep
 t as provided in chapter 280\, F.S.\, notify the applicant in writing that
  before it can be designated by the Chief Financial Officer as a qualified
  public depository\, it must:(a) submit a completed collateral arrangement
  agreement\, as defined in Rule 69C-2.004\, F.A.C.\;(b) complete the requi
 red deposit of collateral in accordance with section 280.04\, F.S.\, and R
 ules 69C-2.006 and 69C-2.0061\, F.A.C.\; and(c) if required\, submit a sig
 ned statement pursuant to section 280.042\, F.S.(4) After the applicant ha
 s met the requirements of subsection (3)\, the Chief Financial Officer wil
 l designate it as a qualified public depository.(5) If an entity seeking d
 esignation as a qualified public depository does not meet the criteria to 
 be designated as established in this Rule and chapter 280\, F.S.\, the Chi
 ef Financial Officer will notify it in writing of this determination.(6) A
  qualified public depository must assign and maintain a primary contact as
  the individual responsible for the institution&rsquo\;s overall participa
 tion in the public deposits program. A secondary contact may also be assig
 ned by the qualified public depository.(a) The&nbsp\; primary and any seco
 ndary contact will be as indicated by the qualified public depository in t
 he Form DFS-J1-1516\, Application or Reapplication for Designation\, incor
 porated by reference in paragraph (1)(a).(b) Should an individual fulfilli
 ng either the primary or secondary contact role change\, a qualified publi
 c depository must update the Chief Financial Officer in the next submissio
 n of Form DFS-J1-1003\, Qualified Public Depository Monthly Report\, incor
 porated by reference in Rule 69C-2.016\, F.A.C.Rulemaking Authority 280.04
 \, 280.041\, 280.10\, 280.19\, 280.041(7) FS. Law Implemented 120.60\, 280
 .02(11)\, 280.025\, 280.04(1)\, 280.04\, 280.041\, 280.042\, 280.05\, 280.
 07\, 280.16\, FS. History&ndash\;New 2-25-82\, Amended 11-29-84\, Formerly
  4C-2.05\, Amended 4-10-86\, 6-28-88\, 1-23-91\, 7-12-92\, Formerly 4C-2.0
 05\, Amended&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; .&nbsp\;69C-2.0051 Change 
 to a Qualified Public Depository or Operating Subsidiary(1) In the event o
 f a qualifying change\, as defined in Rule 69C-2.004\, F.A.C.\, to a quali
 fied public depository or operating subsidiary\, the entity or entities mu
 st re-execute and provide to the Chief Financial Officer\, within 30 calen
 dar days of such qualifying change:(a) the collateral arrangement agreemen
 t\;(b) Form DFS-J1-1000\, Contingent Liability Agreement\, incorporated by
  reference in Rule 69C-2.005\, F.A.C.\;(c) Form DFS-J1-1511\, Qualified Pu
 blic Depository Resolutions\, incorporated by reference in Rule 69C-2.005\
 , F.A.C.\; and (d) if using an operating subsidiary\, Form DFS-J1-1512\, O
 perating Subsidiary Resolutions\, incorporated by reference in Rule 69C-2.
 005\, F.A.C.(2) For a qualified public depository or operating subsidiary 
 to report a change in name or address to the Chief Financial Officer withi
 n 30 calendar days after the effective date of the change\, it must comple
 te and submit Form DFS-J1-1003\, Qualified Public Depository Monthly Repor
 t\, incorporated by reference in subsection 69C-2.016(1)\, F.A.C.Rulemakin
 g Authority 280.041\, 280.10\, 280.19\, FS. Law Implemented 280.041\, 280.
 05\, 280.10\, FS. History&ndash\;New &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&n
 bsp\;.&nbsp\;Substantial rewording of Rule 69C-2.006 follows. See Florida 
 Administrative Code for present text.69C-2.006 Administration of Collatera
 l Requirements(1) Each qualified public depository must deposit with or pl
 edge to the Chief Financial Officer eligible collateral equal to or in exc
 ess of its required collateral.(2) Prior to initiating a collateral transa
 ction\, the qualified public depository must ensure a current collateral a
 rrangement agreement is on file with the Chief Financial Officer.(3) If us
 ing cash as collateral and the Chief Financial Officer as the custodian\,&
 nbsp\; the qualified public depository must complete and submit Form DFS-J
 1-1010\, Proof of Authority\, effective ____\, incorporated by reference a
 nd available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____.
  (4) To comply with section 280.04\, F.S.\, a qualified public depository 
 must evaluate its public deposits on a daily basis.(5) Pursuant to section
 s 280.04\, 280.05\, 280.11\, 280.16\, F.S.\, and Rule 69C-2.024\, F.A.C.\,
  the Chief Financial Officer will notify a qualified public depository in 
 writing of any special instructions\, which may include an increase in the
  collateral-pledging level. The qualified public depository must comply wi
 th the Chief Financial Officer&rsquo\;s special instructions.Rulemaking Au
 thority 280.19\, 280.04\, 280.041(7)\, 280.19\, FS. Law Implemented 280.02
 \, 280.04\, 280.05(16)\, 280.0016(1)(b)\, 280.16\, FS. History&ndash\;New 
 2-25-82\, Amended 11-29-84\, Formerly 4C-2.06\, Amended 4-10-86\, 6-28-88\
 , 1-23-91\, 7-12-92\, Formerly 4C-2.006\, Amended&nbsp\;&nbsp\;&nbsp\;&nbs
 p\;&nbsp\; .&nbsp\;69C-2.0061 Maintenance of Pledged Collateral(1) The dep
 osit or pledge of collateral must be made by completing the transaction an
 d simultaneously submitting to the Chief Financial Officer a completed For
 m DFS-J1-1005\, Collateral Transaction Form\, effective _____\, incorporat
 ed herein by reference and available at http://www.flrules.org/Gateway/ref
 erence.asp?No=Ref-_____.(2) Except as provided in section 280.041\, F.S.\,
  a substitution of collateral may be made by completing the transaction an
 d simultaneously submitting to the Chief Financial Officer a completed For
 m DFS-J1-1005\, Collateral Transaction Form.(3) To initiate a withdrawal o
 f collateral request\, a qualified public depository must submit a complet
 ed Form DFS-J1-1005\, Collateral Transaction Form.(4) To initiate a transf
 er of pledged collateral at the same custodian\, a qualified public deposi
 tory must submit a completed Form DFS-J1-1005\, Collateral Transaction For
 m.(5) To initiate a transfer of previously pledged collateral between cust
 odians\, a qualified public depository must submit a completed Form DFS-J1
 -1005\, Collateral Transaction Form\, to the Chief Financial Officer and p
 rovide copies to both the recipient custodian and releasing custodian.(6) 
 The Chief Financial Officer will evaluate each collateral transaction and 
 request for a collateral transaction pursuant to section 280.13\, F.S.\, a
 nd Rule 69C-2.007\, F.A.C. The Chief Financial Officer will respond in wri
 ting to the qualified public depository and custodian or custodians.Rulema
 king Authority 280.19\, 280.041\, FS. Law Implemented 280.02\, 280.04\, 28
 0.041\, 280.05\, FS. History&ndash\;New &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;.&nbsp\;Substantial rewording of Rule 69C-2.007 follows. See Flori
 da Administrative Code for present text.69C-2.007 Eligible Collateral Crit
 eria and Restrictions(1) All eligible securities pursuant to section 280.1
 3\, F.S.\, must be pledged in a book entry form.(2) Collateralized Mortgag
 e Obligations (CMOs) or Real Estate Mortgage Investment Conduits (REMICs):
 (a) must be a direct obligation of a U.S. Agency\;(b) must be in book entr
 y form\;(c) must not include private label issues\; and(d) must not includ
 e the following classes:1. interest only\;2. principal only\;3. residual\;
  or4. zero.(3) To support evaluation of collateral eligibility\, the Chief
  Financial Officer may request\, in writing\, supporting documentation the
  Chief Financial Officer deems necessary pursuant to sections 280.05 and 2
 80.13\, F.S.(4) In the event that the Chief Financial Officer notifies the
  qualified public depository that the Chief Financial Officer cannot reaso
 nably determine the rating of any proposed collateral\, the qualified publ
 ic depository must submit\, and continue to submit on a weekly basis\, doc
 umentation that supports rating adequacy that meets the requirements of se
 ction 280.13(3)\, F.S.(5) Pursuant to section 280.13(5)\, F.S.\, letters o
 f credit issued by a Federal Home Loan Bank may be submitted electronicall
 y to the Chief Financial Officer.(6) To the extent necessary to protect th
 e integrity of the public deposits program\, the Chief Financial Officer m
 ay limit the pledging of the instruments set out in subsections (1)\, (2)\
 , and (3)\, to a percentage of the total collateral pledged by the qualifi
 ed public depository in accordance with his or her powers enumerated in se
 ction 280.05\, F.S.(7) The following instruments or securities will not be
  acceptable as collateral:(a) loans of any type\; and(b) repurchase and re
 verse repurchase agreements (REPO).Rulemaking Authority 280.041\, 280.13(2
 )\, (5)\, 280.19\, 280.041(7) FS. Law Implemented 280.04(1)\, 280.05\, 280
 .13\, FS. History&ndash\;New 2-25-82\, Amended 11-29-84\, Formerly 4C-2.07
 \, Amended 4-10-86\, 6-28-88\, 1-23-91\, 7-12-92\, Formerly 4C-2.007\, Ame
 nded &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;69C-2.009 FormsRule
 making Authority 280.19\, 280.041(7) FS. Law Implemented 280.04(4)\, 280.0
 41\, 280.05\, 280.16\, 280.17 FS. History&ndash\;New 2-25-82\, Amended 5-1
 7-84\, 11-29-84\, Formerly 4C-2.09\, Amended 4-10-86\, 6-28-88\, 1-23-91\,
  7-12-92\, 2-1-93\, 5-27-97\, 4-5-99\, Formerly 4C-2.009\, Repealed&nbsp\;
 &nbsp\;&nbsp\;&nbsp\;&nbsp\; .&nbsp\;69C-2.0095 Electronic Data Transmissi
 on of Information\, Reports\, and FormsRulemaking Authority 280.19 FS. Law
  Implemented 280.05(16)\, (19)\, 280.16 FS. History&ndash\;New 1-23-91\, F
 ormerly 4C-2.025\, Amended 7-12-92\, 4-5-99\, Formerly 4C-2.0095\, Repeale
 d &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;Substantial rewording 
 of Rule 69C-2.010 follows. See Florida Administrative Code for present tex
 t.69C-2.010 Inspection and Verification of Financial Information Additiona
 l Reports and InspectionsEach qualified public depository and custodian mu
 st electronically provide or otherwise permit the Chief Financial Officer 
 to inspect\, verify\, and review all documents\, reports\, records\, and a
 ll other financial information deemed necessary by the Chief Financial Off
 icer to verify compliance with chapter 280\, F.S. and this rule chapter.Ru
 lemaking Authority 280.041\, 280.19\, FS. Law Implemented 280.02\, 280.04\
 , 280.041\, 280.05\, 280.051\, 280.16\, FS. History&ndash\;New 2-25-82\, A
 mended 11-29-84\, Formerly 4C-2.10\, Amended 4-10-86\, 6-28-88\, 1-23-91\,
  7-12-92\, Formerly 4C-2.010\, Amended&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; 
 .&nbsp\;69C-2.011 Interim Reports by the Chief Financial OfficerRulemaking
  Authority 280.04(9)\, 280.19 FS. Law Implemented 280.01-.05\, 280.07\, 28
 0.08\, 280.09\, 280.10\, 280.11\, 280.13\, 280.16\, 280.17\, 280.18\, 280.
 19 FS. History&ndash\;New 2-25-82\, Amended 11-29-84\, Formerly 4C-2.11\, 
 Amended 4-10-86\, 6-28-88\, Repromulgated 1-23-91\, Amended 7-12-92\, Form
 erly 4C-2.011\, Repealed&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; .&nbsp\;69C-2.
 016 Financial Information Reports by a Qualified Public Depository(1) Each
  qualified public depository must electronically submit to the Chief Finan
 cial Officer a completed Form DFS-J1-1003\, Qualified Public Depository Mo
 nthly Report\, effective _____\, incorporated herein by reference and avai
 lable at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____\, on or
  before the 15th calendar day\, or next business day\, if the due date fal
 ls on a weekend or a Federal Reserve Bank holiday.(2) If a qualified publi
 c depository&rsquo\;s total public deposits decreases by a minimum of twen
 ty-five percent (25%) over the average daily balance of the previously rep
 orted month\, and the qualified public depository wishes to release pledge
 d collateral\, the qualified public depository must submit DFS-J1-1003\, Q
 ualified Public Depository Monthly Report\, as a preliminary report. A pre
 liminary report does not satisfy the monthly report requirement pursuant t
 o subsection (1) above and section 280.16\, F.S. (3) Each qualified public
  depository must complete Form DFS-J1-1004\, Qualified Public Depository A
 nnual Report\, effective _____\, incorporated herein by reference and avai
 lable at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____\, on or
  before November 30th\, as required by section 280.16\, F.S. Rulemaking Au
 thority 280.05\, 280.16 FS. Law Implemented 280.05\, 280.16\, 280.042\, FS
 . History&ndash\;New &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;69C
 -2.021 Assessment CalculationRulemaking Authority 280.04(9)\, 280.19 FS. L
 aw Implemented 280.08(3) FS. History&ndash\;New 6-28-88\, Amended 1-23-91\
 , 7-12-92\, Formerly 4C-2.021\, Repealed &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp
 \;&nbsp\;.&nbsp\;Substantial rewording of Rule 69C-2.022 follows. See Flor
 ida Administrative Code for present text.69C-2.022 Requirements of Public 
 Depositors(1) Each public depositor must electronically submit a completed
  Form DFS-J1-1009\, Public Depositor Annual Report\, effective _____\, inc
 orporated by reference and available at http://www.flrules.org/Gateway/ref
 erence.asp?No=Ref-_____\, annually\, no later than November 30\, to the Ch
 ief Financial Officer\, as required by section 280.17\, F.S. (2) Upon a pu
 blic depositor opening a public deposit account\, it must complete Form DF
 S-J1-1295\, Public Deposit Identification and Acknowledgment Form\, effect
 ive _____\, incorporated herein by reference and available at http://www.f
 lrules.org/Gateway/reference.asp?No=Ref-_____\, and maintain the completed
  form as required by section 280.17\, F.S. Rulemaking Authority 280.19\, 2
 80.041(7) FS. Law Implemented 280.17\, 280.042\, FS. History&ndash\;New 6-
 28-88\, Amended 1-23-91\, 7-12-92\, 4-5-99\, Formerly 4C-2.022\, Amended &
 nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;Substantial rewording of Rule 69
 C-2.024follows. See Florida Administrative Code for present text.69C-2.024
  Criteria for Assigning Minimum Pledge Percentages and Guidelines to be Us
 ed by the Chief Financial Officer in Administering and Protecting the Inte
 grity of the Public Deposits Program(1) Entry\, withdrawal\, and continued
  participation in the public deposits program will be based\, in part\, on
  the overall financial condition of an applicant or a qualified public dep
 ository.(2) The overall financial condition of an applicant or a qualified
  public depository is determined by an analysis of:(a) ratios derived from
  the institution&rsquo\;s Call Report or 5300 Call Report\;(b) trends expe
 rienced by the institution\;(c) the institution&rsquo\;s average financial
  condition rating from two nationally recognized financial rating services
 \, published quarterly\; and(d) any other information relating to the inst
 itution that the Chief Financial Officer determines pertinent.(3) Except a
 s provided in section 280.04\, F.S.\, the following numerical parameters f
 or entry\, withdrawal\, and collateral pledging levels will apply for an a
 pplicant or a qualified public depository. Using a scale of zero (0) to 10
 0\, an institution with a quarterly average combined rating over the four 
 most recent quarters of:(a) 20 or more\, may join the public deposits prog
 ram.(b) Zero (0) through 15 must withdraw from the public deposits program
  or meet the following conditions pursuant to an alternative participation
  agreement through Form DFS-J1-1518\, Alternative Participation Agreement\
 , effective _____\, incorporated by reference and available at http://www.
 flrules.org/Gateway/reference.asp?No=Ref-_____\, as an alternative to with
 drawing:1. establish a maximum amount of public deposits the institution m
 ay hold\, which is mutually agreed upon by and between the Chief Financial
  Officer and the institution\;2. deposit or pledge eligible collateral equ
 al to one hundred and fifty percent (150%) of the amount of public deposit
 s agreed to pursuant to subparagraph 1\;3. if required by the Chief Financ
 ial Officer pursuant to section 280.041(6)\, F.S.\, use a Chief Financial 
 Officer&rsquo\;s custodian to safekeep all required collateral and be boun
 d by a Chief Financial Officer&rsquo\;s custodial contract as directed by 
 the Chief Financial Officer\; and4. submit each month\, and whenever reque
 sted by the Chief Financial Officer\, a schedule listing all public deposi
 ts accounts and balances held for the credit of all public depositors.(c) 
 16 through 29 must pledge collateral at a one hundred and ten percent (110
 %) level.(d) at the discretion of the Chief Financial Officer\, 30 through
  69 may pledge collateral at a fifty percent (50%) level.(e) at the discre
 tion of the Chief Financial Officer\, 70 and above may pledge collateral a
 t a twenty-five percent (25%) level.(4) On a quarterly basis\, the Chief F
 inancial Officer will review the average rating of each qualified public d
 epository and will notify each qualified public depository whose collatera
 l pledging level and requirements has changed\, and any other action requi
 red or relevant to the institution&rsquo\;s continued participation in the
  public deposits program.(5) The Chief Financial Officer may assign a coll
 ateral pledging level that differs from those recommended in paragraph (3)
  where: (a) the Chief Financial Officer&rsquo\;s analysis indicates that a
  qualified public depository&rsquo\;s current financial condition is eithe
 r stronger or weaker than the latest average financial condition rating in
 dicates\;(b) a qualified public depository is subject to a regulatory or e
 nforcement action that cites safety and soundness considerations\;(c) a qu
 alified public depository violates any provision of chapter 280\, F.S. or 
 this rule chapter\; (d) a material event occurred involving the qualified 
 public depository or the banking sector as a whole that threatens the inte
 grity of the public deposits program\; or(e) the Chief Financial Officer d
 eems the exception necessary pursuant to section 280.05\, F.S.Rulemaking A
 uthority 280.04(1)\, 280.19 FS. Law Implemented 280.04\, 280.05(6)\, 280.1
 6\, 280.17 FS. History&ndash\;New 1-23-91\, Amended 7-12-92\, Formerly 4C-
 2.024\, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;Substantial rew
 ording of Rule 69C-2.026follows. See Florida Administrative Code for prese
 nt text.69C-2.026 Administration of Payment of LossesIn the event of the i
 nsolvency or default of a qualified public depository\, each public deposi
 tor having a claim against the Public Deposits Trust Fund must file a clai
 m with the Chief Financial Officer consistent with section 280.085\, F.S.\
 , on Form DFS-J1-1012\, Public Deposits Claim Form and Agreement\, effecti
 ve _____\, incorporated by reference and available at http://www.flrules.o
 rg/Gateway/reference.asp?No=Ref-_____. Along with the claim form\, the pub
 lic depositor must submit:(1) proof of authority as specified by Rule 69C-
 2.032\, F.A.C.\; and(2) Form DFS-J1-1295\, Public Deposit Identification a
 nd Acknowledgment\, incorporated by reference in Rule 69C-2.022\, F.A.C.\,
  for each respective public deposit account.Rulemaking Authority 280.19 FS
 . Law Implemented 280.042\, 280.08\, 280.085\, 280.10\, 280.17(1)(b)\, FS.
  History&ndash\;New 7-12-92\, Amended 2-1-93\, 4-5-99\, Formerly 4C-2.026\
 , Amended&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; .&nbsp\;Substantial rewording
  of Rule 69C-2.027follows. See Florida Administrative Code for present tex
 t.69C-2.027 Voluntary Withdrawal Effective Date of Withdrawal Due to an Ac
 quisition or MergerTo withdrawal a designation as a qualified public depos
 itory\, the qualified public depository must submit Form DFS-J1-1519\, Not
 ice of Withdrawal\, effective _____\, incorporated by reference and availa
 ble at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____.Rulemakin
 g Authority 280.10(7)\, 280.19 FS. Law Implemented 280.09(2)\, 280.10\, 28
 0.11 FS. History&ndash\;New 7-12-92\, Formerly 4C-2.027\, Amended &nbsp\;&
 nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;Substantial rewording of Rule 69
 C-2.028follows. See Florida Administrative Code for present text.69C-2.028
  Ownership of Collateral by an Operating Subsidiary of the Qualified Publi
 c DepositoryCollateral securing public deposits may\, at the discretion of
  the qualified public depository\, be owned in the name of an operating su
 bsidiary if:(1) 100% of the stock of the operating subsidiary is owned and
  controlled by the qualified public depository\;(2) the operating subsidia
 ry is a party to and bound by all the terms of Form DFS-J1-1000\, Continge
 nt Liability Agreement\, incorporated by reference in Rule 69C-2.005\, F.A
 .C.\;(3) the operating subsidiary is a party to and bound by all the terms
  of Form DFS-J1-1001\, Collateral Control Agreement\, incorporated by refe
 rence in Rule 69C-2.004\, F.A.C.\;(4) the operating subsidiary is a party 
 to and bound by all the terms of DFS-J1-1014\, Cash Arrangement Agreement\
 , incorporated by reference in Rule 69C-2.004\, F.A.C.\, when using cash a
 s collateral and the Chief Financial Officer as the custodian\;(5) both th
 e board of directors for the qualified public depository and the board of 
 directors for the operating subsidiary have approved Forms DFS-J1-1000\, C
 ontingent Liability Agreement\, incorporated by reference in Rule 69C-2.00
 5\, F.A.C.\; DFS-J1-1001\, Collateral Control Agreement\, incorporated by 
 reference in Rule 69C-2.004\, F.A.C.\; and DFS-J1-1014\, Cash Arrangement 
 Agreement\, incorporated by reference in Rule 69C-2.004\, F.A.C.\, which m
 ust be reflected in or on:(a) the minutes of each respective board\;(b) Fo
 rm DFS-J1-1511\, Qualified Public Depository Resolutions\, incorporated by
  reference in Rule 69C-2.005\, F.A.C.\, completed by the qualified public 
 depository\; and(c) Form DFS-J1-1512\, Operating Subsidiary Resolutions\, 
 incorporated by reference in Rule 69C-2.005\, F.A.C.\, completed by the op
 erating subsidiary\;(6) the Chief Financial Officer does not disapprove th
 e ownership of the collateral by the operating subsidiary as determined wi
 thin his or her discretionary powers set forth in section 280.041(6)\, F.S
 .\; and(7) the qualified public depository remains fully responsible and a
 ccountable for the actions of its operating subsidiary and is subject to a
 dministrative action pursuant to chapter 280\, F.S.Rulemaking Authority 28
 0.19\, 280.041(7) FS. Law Implemented 280.02\, 280.04\, 280.05 FS. History
 &ndash\;New 5-27-97\, Formerly 4C-2.028\, Amended &nbsp\;&nbsp\;&nbsp\;&nb
 sp\;&nbsp\;&nbsp\;.&nbsp\;Substantial rewording of Rule 69C-2.029 follows.
  See Florida Administrative Code for present text.69C-2.029 Use of an Auth
 orized Agent by a Qualified Public DepositoryThe use of an agent by a qual
 ified public depository\, or if one is used\, by an operating subsidiary\,
  is prohibited.Rulemaking Authority 280.19\, 280.041(7) FS. Law Implemente
 d 280.02\, 280.04\, 280.05 FS. History&ndash\;New 5-27-97\, Formerly 4C-2.
 029\, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;Substantia
 l rewording of Rule 69C-2.030follows. See Florida Administrative Code for 
 present text.69C-2.030 Use of an Agent Agents by a Custodian Custodians of
  Collateral (1) The use of an agent by a custodian is prohibited unless sp
 ecifically authorized by the Chief Financial Officer in writing. (2) To re
 quest permission to use a custodial agent\, the custodian must submit such
  request in writing to the Chief Financial Officer and include the followi
 ng:(a) proof that the agent meets the definition of a custodian in&nbsp\;s
 ection 280.02\, F.S.\;(b) a complete collateral control agreement\, Form D
 FS-J1-1001\, incorporated by reference in Rule 69C-2.004\, F.A.C.\; and(c)
  proof of the agency relationship between the custodian and agent.Rulemaki
 ng Authority 280.19\, 280.041(7) FS. Law Implemented 280.02\, 280.04\, 280
 .05 FS. History&ndash\;New 5-27-97\, Formerly 4C-2.030\, Amended &nbsp\;&n
 bsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.&nbsp\;Substantial rewording of Rule 69C
 -2.031follows. See Florida Administrative Code for present text.69C-2.031 
 Confirmation Information of Pledged Collateral Format for Confirmations fr
 om Custodians(1) To confirm information of pledged collateral\, a custodia
 n:(a) must confirm pledged collateral:1. whose account name on the records
  of the custodian is the specified pledgor\; and2. that is pledged to the 
 Chief Financial Officer to secure public deposits pursuant to the Florida 
 Security for Public Deposits Act\;(b) must not confirm pledged collateral 
 that is either:1. recorded under any account name other than the pledgor\;
 2. not pledged to the Chief Financial Officer\; or3. pledged for purposes 
 other than to secure public deposits pursuant to the Florida Security for 
 Public Deposits Act.(2) The confirmation information of pledged collateral
  must contain all of the following data applicable to a specific collatera
 l type:(a) report date\;(b) special identification number\;(c) custodian f
 ederal employer identification number (FEIN)\;(d) custodian legal name\;(e
 ) pledgor&rsquo\;s legal name\;(f) pledgor&rsquo\;s FEIN\;(g) identifying 
 number for collateral\; and(h) original par or face amount or number of un
 its or shares.(3) The custodian must restrict abbreviations used in the co
 nfirmation to those accepted industry wide.(4) Except as provided in (5)\,
  to provide confirmation information of pledged collateral as described in
  subsections (1) and (2)\, the custodian must facilitate secure electronic
  data exchange\, daily\, to a third-party vendor procured by the Chief Fin
 ancial Officer which allows access to the Florida public depository custod
 ial accounts of each qualified public depository.(5) Only if directed by t
 he Chief Financial Officer\, or his or her designee\, a custodian must pro
 vide the confirmation information of pledged collateral as described in su
 bsections (1) and (2)\, to the Chief Financial Officer electronically thro
 ugh email at CollateralManagement@myfloridacfo.com.(6) Within 120 calendar
  days after the effective date of this Rule\, a custodian must be fully co
 mpliant with subsection (4).Rulemaking Authority 280.041\, 280.19\, 280.04
 1(7) FS. Law Implemented 280.02\, 280.04\, 280.041\, 280.05 FS. History&nd
 ash\;New 5-27-97\, Formerly 4C-2.031\, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;&nbsp\;.&nbsp\;Substantial rewording of Rule 69C-2.032follows. See
  Florida Administrative Code for present text.69C-2.032 Proof of Authority
  for the Execution of Forms\, Proof of Authorization(1) The following form
 s must be executed in accordance with subsection (2) and submitted to the 
 Chief Financial Officer on behalf of the qualified public depository:(a) D
 FS-J1-1000\, Contingent Liability Agreement\, incorporated by reference in
  Rule 69C-2.005\, F.A.C.\;(b) DFS-J1-1001\, Collateral Control Agreement\,
  incorporated by reference in Rule 69C-2.004\, F.A.C.\;(c) DFS-J1-1014\, C
 ash Arrangement Agreement\, incorporated by reference in Rule 69C-2.004\, 
 F.A.C.\;(d) DFS-J1-1510\, Federal Home Loan Bank Letters of Credit Agreeme
 nt\, incorporated by reference in Rule 69C-2.004\, F.A.C.\;(e) DFS-J1-1518
 \, Alternative Participation Agreement\, incorporated by reference in Rule
  69C-2.024\, F.A.C.\;(f) DFS-J1-1519\, Notice of Withdrawal\, incorporated
  by reference in Rule 69C-2.027\, F.A.C.\; and(g) DFS-J1-1013\, Attestatio
 n Statement for Qualified Public Depositories\, incorporated by reference 
 in Rule 69C-2.033\, F.A.C.(2) An individual&rsquo\;s proof of authority to
  execute a form or forms on behalf of a qualified public depository and\, 
 if one is used\, an operating subsidiary\, must be demonstrated by submitt
 ing one of the following to the Chief Financial Officer: (a) Form DFS-J1-1
 010\, Proof of Authority\, incorporated by reference in Rule 69C-2.006\, F
 .A.C.\;(b) The organization&rsquo\;s charter\, constitution\, bylaws\, or 
 other evidence of the governing body\, authorizing the individual signing 
 the form by name or title to sign such a document on behalf of the organiz
 ation\; or(c) Evidence of incumbency through a certificate of incumbency f
 or the qualified public depository.(3) Form DFS-J1-1012\, Public Deposit C
 laim Form and Agreement\, incorporated by reference in Rule 69C-2.026 F.A.
 C.\, must be executed by an official custodian or delegate of the public d
 epositor\, as defined in 69C-2.004\, F.A.C.\, and submitted to the Chief F
 inancial Officer.Rulemaking Authority 280.19\, FS. Law Implemented 280.02\
 , 280.025\, 280.04\, 280.05\, 280.16\, 280.17\, FS. History&ndash\;New 5-2
 7-97\, Amended 4-5-99\, Formerly 4C-2.032\, Amended &nbsp\;&nbsp\;&nbsp\;&
 nbsp\;&nbsp\;&nbsp\;.&nbsp\;69C-2.034 Disqualification\, Suspension\, and 
 Administrative Penalty(1) Disciplinary guidelines. This rule establishes d
 isciplinary procedures and guidelines supplemental to chapter 120\, F.S.\,
  and sections 280.051 through 280.06\, F.S.\, for a qualified public depos
 itory\, either an applicant or designee\, regarding the public deposits pr
 ogram. The Chief Financial Officer may impose a penalty or penalties upon 
 a determination that a qualified public depository\, applicant or designee
 \, has violated any provision of this rule chapter or chapter 280\, F.S.(2
 ) Procedures for Discipline. The procedures for discipline are set forth i
 n section 280.052 and chapter 120\, F.S. (3) Mitigating and Aggravating Fa
 ctors. In determining the appropriate disciplinary action to be imposed un
 der sections 280.053 and 280.54\, F.S.\, the Chief Financial Officer will 
 consider aggravating and mitigating factors under the circumstances\, whic
 h includes:(a) the danger to the public health\, safety\, or welfare\;(b) 
 number of counts or violations\;(c) the monetary harm caused to the state 
 of Florida and any public depositor\;(d) the non-monetary harm caused to t
 he state of Florida and any public depositor\;(e) whether the violation or
  violations were willful\;(f) the deterrent effect of the penalty imposed\
 ;(g) improvement or correction efforts since the violation\;(h) the length
  of time since the date of the violation\; (i) the number of previous disc
 iplinary cases filed against the qualified public depository\; and(j) any 
 other relevant mitigating or aggravating circumstances.Rulemaking Authorit
 y 280.052\, 280.19\, FS. Law Implemented 280.02\, 280.025\, 280.03\, 280.0
 4\, 280.041\, 280.05\, 280.051\, 280.052\, 280.053\, 280.54\, 280.055\, 28
 0.06\, 280.07\, 280.08\, 280.10\, 280.11\, 280.13\, 280.16\, 280.17\, FS. 
 History&ndash\;New&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; .&nbsp\;&nbsp\;NAME 
 OF PERSON ORIGINATING PROPOSED RULE: Sarah Pons\, Bureau Chief NAME OF AGE
 NCY HEAD WHO APPROVED THE PROPOSED RULE: Jimmy Patronis\, Chief Financial 
 OfficerDATE PROPOSED RULE APPROVED BY AGENCY HEAD: July 1\, 2024DATE NOTIC
 E OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: July 2\, 2024&nbsp\;To vi
 ew the Notice of Proposed Rule\, visit:&nbsp\;https://www.flrules.org/gate
 way/RuleNo.asp?title=PROCEDURES%20FOR%20ADMINISTERING%20THE%20FLORIDA%20SE
 CURITY%20FOR%20PUBLIC%20DEPOSITS%20ACT&amp\;ID=69C-2.001&nbsp\;To view Hea
 ring Agenda:&nbsp\;https://myfloridacfo.com/docs-sf/general-counsel-librar
 ies/generalcounsel-documents/rule-hearing-agenda-for-69c-2.docx&nbsp\;To v
 iew draft forms:DFS-J1-1000\,&nbsp\;https://myfloridacfo.com/docs-sf/gener
 al-counsel-libraries/generalcounsel-documents/dfs-j1-1000-contingent-liabi
 lity-agreement-draft.pdf&nbsp\;DFS-J1-1001\,&nbsp\;https://myfloridacfo.co
 m/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1001-c
 ollateral-control-agreement-draft.pdf&nbsp\;DFS-J1-1003\,&nbsp\;https://my
 floridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-documents/
 dfs-j1-1003-qualified-public-depository-monthly-report-draft.pdf&nbsp\;DFS
 -J1-1004\,&nbsp\;https://myfloridacfo.com/docs-sf/general-counsel-librarie
 s/generalcounsel-documents/dfs-j1-1004-qualified-public-depository-annual-
 report-draft.pdf&nbsp\;DFS-J1-1005\,&nbsp\;https://myfloridacfo.com/docs-s
 f/general-counsel-libraries/generalcounsel-documents/dfs-j1-1005-collatera
 l-transaction-form-draft.pdf&nbsp\;DFS-J1-1009\,&nbsp\;https://myfloridacf
 o.com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-10
 09-public-depositor-annual-report-draft.pdf&nbsp\;DFS-J1-1010\,&nbsp\;http
 s://myfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-docu
 ments/dfs-j1-1010-proof-of-authority-draft.pdf&nbsp\;DFS-J1-1012\,&nbsp\;h
 ttps://myfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-d
 ocuments/dfs-j1-1012-public-deposit-claim-form-and-agreement-draft.pdf&nbs
 p\;DFS-J1-1014\,&nbsp\;https://myfloridacfo.com/docs-sf/general-counsel-li
 braries/generalcounsel-documents/dfs-j1-1014-cash-arrangement-agreement-dr
 aft.pdf&nbsp\;DFS-J1-1295\,&nbsp\;https://myfloridacfo.com/docs-sf/general
 -counsel-libraries/generalcounsel-documents/dfs-j1-1295-public-deposit-ide
 ntification-and-acknowledgment-form-draft.pdf&nbsp\;DFS-J1-1510\,&nbsp\;ht
 tps://myfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-do
 cuments/dfs-j1-1510-federal-home-loan-bank-letters-of-credit-agreement-dra
 ft.pdf&nbsp\;DFS-J1-1511\,&nbsp\;https://myfloridacfo.com/docs-sf/general-
 counsel-libraries/generalcounsel-documents/dfs-j1-1511-qualified-public-de
 pository-resolutions-draft.pdf&nbsp\;DFS-J1-1512\,&nbsp\;https://myflorida
 cfo.com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-
 1512-operating-subsidiary-resolutions-draft.pdf&nbsp\;DFS-J1-1516\,&nbsp\;
 https://myfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-
 documents/dfs-j1-1516-application-or-reapplication-for-designation-draft.p
 df&nbsp\;DFS-J1-1518\,&nbsp\;https://myfloridacfo.com/docs-sf/general-coun
 sel-libraries/generalcounsel-documents/dfs-j1-1518-alternative-participati
 on-agreement-draft.pdf&nbsp\;DFS-J1-1519\,&nbsp\;https://myfloridacfo.com/
 docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1519-not
 ice-of-withdrawal-draft.pdf&nbsp\;DFS-J1-1535\,&nbsp\;https://myfloridacfo
 .com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-153
 5-federal-home-loan-bank-member-resolution-draft.pdf&nbsp\;&nbsp\;Attorney
 : Nathan Koch
DTEND:20240711T153000Z
DTSTAMP:20260910T163751Z
DTSTART:20240711T143000Z
LOCATION:
SEQUENCE:0
SUMMARY:Rules 69C-2.001 through 2.032 and 69C-2.034\, Florida Administrativ
 e Code\, the Florida Security for Public Deposits Act
UID:RFCALITEM639246406717721268
X-ALT-DESC;FMTTYPE=text/html:<div></div><div></div><p>NOTICE OF PROPOSED RU
 LE</p><p>DEPARTMENT OF FINANCIAL SERVICES</p><p>DIVISION OF TREASURY</p><p
 >RULE NO.:&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&
 nbsp\; RULE TITLE: </p><p>69C-2.001 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nb
 sp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Purpose</p><p>69C-2.002 &nbsp\;&nb
 sp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Scope<
 /p><p>69C-2.004 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&n
 bsp\;&nbsp\;&nbsp\; Definitions</p><p>69C-2.005 &nbsp\;&nbsp\;&nbsp\;&nbsp
 \;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; <span style="text-deco
 ration:underline\;">Designation of a Qualified Public Depository</span> <s
 >Qualifications for Participation by Banks and Savings Associations</s></p
 ><p><span style="text-decoration:underline\;">69C-2.0051</span> &nbsp\;&nb
 sp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; <span style="text-de
 coration:underline\;">Change to a Qualified Public Depository or Operating
  Subsidiary</span></p><p>69C-2.006 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbs
 p\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Administration of Collateral Requir
 ements</p><p><span style="text-decoration:underline\;">69C-2.0061</span> &
 nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; <span style
 ="text-decoration:underline\;">Maintenance of Pledged Collateral</span></p
 ><p>69C-2.007 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbs
 p\;&nbsp\;&nbsp\; Eligible Collateral Criteria and Restrictions</p><p>69C-
 2.009 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp
 \;&nbsp\; Forms</p><p>69C-2.0095 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;&nbsp\;&nbsp\; Electronic Data Transmission of Information\, Repor
 ts\, and Forms</p><p>69C-2.010 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&
 nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; <span style="text-decoration:underline\
 ;">Inspection and Verification of Financial Information</span><strong> </s
 trong><s>Additional Reports and Inspections</s></p><p>69C-2.011 &nbsp\;&nb
 sp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Interi
 m Reports by the Chief Financial Officer</p><p><span style="text-decoratio
 n:underline\;">69C-2.016</span><strong> &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; </strong><span style="text-dec
 oration:underline\;">Financial Information Reports by a Qualified Public D
 epository</span></p><p>69C-2.021 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Assessment Calculation</p><p>69C-2.02
 2 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&n
 bsp\; Requirements of Public Depositors</p><p>69C-2.024 &nbsp\;&nbsp\;&nbs
 p\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Criteria <span
  style="text-decoration:underline\;">for Assigning Minimum Pledge Percenta
 ges</span><s> and Guidelines</s> <s>to be Used by the Chief Financial Offi
 cer in Administering and Protecting the Integrity of the Public Deposits P
 rogram</s></p><p>69C-2.026 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp
 \;&nbsp\;&nbsp\;&nbsp\;&nbsp\; Administration of Payment of Losses</p><p>6
 9C-2.027 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&n
 bsp\;&nbsp\; <span style="text-decoration:underline\;">Voluntary Withdrawa
 l</span> <s>Effective Date of Withdrawal Due to an Acquisition or Merger.<
 /s></p><p>69C-2.028 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp
 \;&nbsp\;&nbsp\;&nbsp\; Ownership of Collateral by an Operating Subsidiary
  of the Qualified Public Depository</p><p>69C-2.029 &nbsp\;&nbsp\;&nbsp\;&
 nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; <span style="text-
 decoration:underline\;">Use of an </span><s>Authorized</s> Agent <span sty
 le="text-decoration:underline\;">by a Qualified Public Depository</span></
 p><p>69C-2.030 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nb
 sp\;&nbsp\;&nbsp\; Use of <span style="text-decoration:underline\;">an Age
 nt</span> <s>Agents</s> by <span style="text-decoration:underline\;">a Cus
 todian</span> <s>Custodians of Collateral</s></p><p>69C-2.031 &nbsp\;&nbsp
 \;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; <span st
 yle="text-decoration:underline\;">Confirmation Information of Pledged Coll
 ateral</span><strong> </strong><s>Format for Confirmations from Custodians
 </s></p><p>69C-2.032 &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbs
 p\;&nbsp\;&nbsp\;&nbsp\; <span style="text-decoration:underline\;">Proof o
 f Authority for the</span> Execution of Forms<s>\, Proof of Authorization<
 /s></p><p><span style="text-decoration:underline\;">69C-2.034</span>&nbsp\
 ;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nb
 sp\; <span style="text-decoration:underline\;">Disqualification\, Suspensi
 on\, and Administrative Penalty</span></p><p>&nbsp\;</p><p>PURPOSE AND EFF
 ECT: This rulemaking modernizes the regulatory criteria and procedures for
  chapter 280\, Florida Statutes\, the Florida Security for Public Deposits
  Act (the Act). Modernization of the Act includes simplifying and clarifyi
 ng the regulatory criteria and processes\, including improving the functio
 nality of the incorporated material. This rulemaking also\, in part\, impl
 ements section 70 of chapter 2024-140\, Laws of Florida\, which promulgate
 s section 280.042\, Florida Statutes\, effective July 1\, 2024. Section 28
 0.042 sets forth policies whereby credit unions may participate as a quali
 fied public depository in the public deposits program with certain limitat
 ions. A new rule\, 69C-2.0051\, is proposed to clarify when a qualified pu
 blic depository must execute new Act agreements and resolutions and report
  a change in name and/or address. A new rule\, 69C-2.0061\, is proposed to
  simplify the process for a qualified public depository to deposit or pled
 ge the required collateral\, which combines the functionality of three (3)
  forms into one (1). A new rule\, 69C-2.016\, clarifies and simplifies the
  criteria and process for a qualified public depository to submit monthly\
 , preliminary\, and annual reports. A new rule\, 69C-2.034\, is proposed t
 o establish the criteria and process for discipline of a qualified public 
 depository or an applicant seeking designation as a qualified public depos
 itory. Rules to be repealed include: 69C-2.001\, 2.002\, 2.009\, 2.0095\, 
 2.011\, and 2.021. The rationale for each repeal is due to the rules being
  unnecessary or duplicative of statute.</p><p>&nbsp\;</p><p>SUMMARY: This 
 rulemaking includes simplifying\, clarifying\, and improving the functiona
 lity of the regulatory criteria and processes relating to the Act\, as wel
 l as implementing section 70 of chapter 2024-140\, Laws of Florida.</p><p>
 &nbsp\;</p><p>SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGIS
 LATIVE RATIFICATION: The Agency has determined that this will not have an 
 adverse impact on small business or likely increase directly or indirectly
  regulatory costs in excess of $200\,000 in the aggregate within one year 
 after the implementation of the rule.&nbsp\; A SERC has not been prepared 
 by the Agency.</p><p>The Agency has determined that the proposed rule is n
 ot expected to require legislative ratification based on the statement of 
 estimated regulatory costs or if no SERC is required\, the information exp
 ressly relied upon and described herein: The Department&rsquo\;s economic 
 analysis of the potential impact of the proposed rule amendments determine
 d that there will be no adverse economic impact or increased regulatory co
 sts that would require legislative ratification.</p><p>Any person who wish
 es to provide information regarding the statement of estimated regulatory 
 costs\, or to provide a proposal for a lower cost regulatory alternative m
 ust do so in writing within 21 days of this notice. </p><p>&nbsp\;</p><p>R
 ULEMAKING AUTHORITY: 280.04\, 280.041\, 280.052\, 280.054\, 280.07\, 280.1
 0\, 280.13\, 280.16\, 280.17\, 280.19\, FS.</p><p>&nbsp\;</p><p>LAW IMPLEM
 ENTED: 17.57\, 120.60\, 280.01\, 280.02\, 280.025\, 280.03\, 280.04\, 280.
 041\, 280.042\, 280.05\, 280.051\, 280.052\, 280.053\, 280.54\, 280.055\, 
 280.06\, 280.07\, 280.08\, 280.085. 280.09. 280.10\, 280.11\, 280.13\, 280
 .16\, 280.17\, 280.18\, FS.</p><p>&nbsp\;</p><p>A HEARING WILL BE HELD AT 
 THE DATE\, TIME AND PLACE SHOWN BELOW:</p><p>DATE AND TIME: July 11\, 2024
 \, 10:30 a.m.</p><p>PLACE: Please join my meeting from your computer\, tab
 let or smartphone. https://global.gotomeeting.com/join/626020717</p><p>You
  can also dial in using your phone. United States (Toll Free): 1(866)899-4
 679\, United States: (571)317-3116\, Access Code: 626-020-717</p><p>Join f
 rom a video-conferencing room or system. Dial in or type: 67.217.95.2 or i
 nroomlink.goto.com\, Meeting ID: 626 020 717 or dial directly: 626020717@6
 7.217.95.2 or 67.217.95.2##626020717</p><p>Pursuant to the provisions of t
 he Americans with Disabilities Act\, any person requiring special accommod
 ations to participate in this workshop/meeting is asked to advice the agen
 cy at least 7 days before the workshop/meeting by contacting: Sarah Pons\,
  Bureau Chief\, Bureau of Collateral Management\, at Sarah.Pons@myfloridac
 fo.com\, or (850)4133383.</p><p>If you are hearing or speech impaired\, pl
 ease contact the agency using the Florida Relay Service\, 1(800)955-8771 (
 TDD) or 1(800)955-8770 (Voice).</p><p>&nbsp\;</p><p>THE PERSON TO BE CONTA
 CTED REGARDING THE PROPOSED RULE IS: Sarah Pons\, Bureau Chief\, Bureau of
  Collateral Management\, telephone (850)413-3383\, email Sarah.Pons@myflor
 idacfo.com.</p><p>&nbsp\;</p><p>THE FULL TEXT OF THE PROPOSED RULE IS: </p
 ><p><strong>69C-2.001 Purpose</strong></p><p><em>Rulemaking Authority \, 2
 80.041(7)\, 280.19 FS. Law Implemented 280 FS. History&ndash\;New 2-25-82\
 , Amended 11-29-84\, Formerly 4C-2.01\, Amended 6-28-88\, Repromulgated 1-
 23-91\, Formerly 4C-2.001<span style="text-decoration:underline\;">\, Repe
 aled &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em></p><p><em>&nb
 sp\;</em></p><p><strong>69C-2.002 Scope</strong></p><p><em>Rulemaking Auth
 ority 280.19\, 280.041(7) FS. Law Implemented 280 FS. History&ndash\;New 2
 -25-82\, Amended 11-29-84\, Formerly 4C-2.02\, Amended 4-10-86\, 6-28-88\,
  1-23-91\, 7-12-92\, Formerly 4C-2.002<span style="text-decoration:underli
 ne\;">\, Repealed &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em><
 /p><p>&nbsp\;</p><p>Substantial rewording of Rule <strong>69C-2.004 </stro
 ng>follows. See Florida Administrative Code for present text.</p><p><stron
 g>69C-2.004 Definitions</strong></p><p>For the purpose of <span style="tex
 t-decoration:underline\;">this chapter\, the term:</span></p><p><span styl
 e="text-decoration:underline\;">(1) &ldquo\;Applicant&rdquo\; means an ent
 ity seeking designation by the Chief Financial Officer as a qualified publ
 ic depository in the public deposits program.</span></p><p><span style="te
 xt-decoration:underline\;">(2) &ldquo\;Certificate of incumbency&rdquo\; m
 eans a document executed pursuant to the corporation&rsquo\;s bylaws certi
 fying a corporate officer has the authority to act on behalf of and bind t
 he corporation with respect to an underlying transaction.</span></p><p><sp
 an style="text-decoration:underline\;">(3) &ldquo\;Chief Financial Officer
 &rdquo\; has the same meaning as in section 17.001\, Florida Statutes (F.S
 .).</span></p><p><span style="text-decoration:underline\;">(4) &ldquo\;Col
 lateral arrangement agreement\,&rdquo\; also referred to as a &ldquo\;coll
 ateral arrangement&rdquo\; or &ldquo\;collateral agreement\,&rdquo\; means
  an agreement or agreements to protect the interest of the state of Florid
 a through the use of collateral executed under oath that meets the require
 ments of Rule 69C-2.032\, Florida Administrative Code (F.A.C.)\, and is si
 gned by the Chief Financial Officer.</span><span style="text-decoration:un
 derline\;"> Depending on the collateral being pledged\, a collateral arran
 gement agreement includes one or more of the following:</span></p><p><span
  style="text-decoration:underline\;">(a) Form DFS-J1-1001\, Collateral Con
 trol Agreement\, effective _____\, incorporated by reference and available
  at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____\;</span></p>
 <p><span style="text-decoration:underline\;">(b) DFS-J1-1014\, Cash Arrang
 ement Agreement\, effective _____\, incorporated by reference and availabl
 e at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____\; or</span>
 </p><p><span style="text-decoration:underline\;">(c) Form DFS-J1-1510\, th
 e Federal Home Loan Bank Letters of Credit Agreement\, effective _____\, i
 ncorporated by reference and available at http://www.flrules.org/Gateway/r
 eference.asp?No=Ref-_____.</span><span style="text-decoration:underline\;"
 ></span></p><p><span style="text-decoration:underline\;">(5) &ldquo\;Custo
 dian&rdquo\; has the same meaning as in section 280.02\, F.S.</span></p><p
 ><span style="text-decoration:underline\;">(6) &ldquo\;Delegate of the pub
 lic depositor&rdquo\; means an individual with authority to execute forms 
 on behalf of the public depositor\, as established by a copy of:</span></p
 ><p><span style="text-decoration:underline\;">(a) the organization&rsquo\;
 s internal documentation\, signed by the official custodian\, stating the 
 delegation of authority by name or title\;</span></p><p><span style="text-
 decoration:underline\;">(b) the minutes of a board meeting evidencing adop
 tion of a resolution by the organization's board of directors authorizing 
 the individual signing the form by name or title to sign such a document o
 n behalf of the organization\; or</span></p><p><span style="text-decoratio
 n:underline\;">(c) the organization's charter\, constitution\, bylaws\, or
  other evidence of the governing body\, authorizing the individual signing
  the form by name or title to sign such a document on behalf of the organi
 zation.</span><span style="text-decoration:underline\;"></span></p><p><spa
 n style="text-decoration:underline\;">(7) &ldquo\;Federal Home Loan Bank M
 ember Resolution&rdquo\; means Form DFS-J1-1535\, Federal Home Loan Bank M
 ember Resolution\, effective ____\, incorporated herein by reference and a
 vailable at http://www.flrules.org/Gateway/reference.asp?No=Ref-_____.</sp
 an></p><p><span style="text-decoration:underline\;">(8) &ldquo\;Official c
 ustodian&rdquo\; has the same meaning as established in 12 C.F.R. &sect\; 
 330.15.</span></p><p><span style="text-decoration:underline\;">(9) </span>
 &ldquo\;Offset&rdquo\; means the right which exists between two parties ea
 ch of whom\, under an independent contract\, owes an ascertained amount to
  the other to set off their respective debts by way of mutual deduction.<s
 pan style="text-decoration:underline\;"></span></p><p><span style="text-de
 coration:underline\;">(10)</span> &ldquo\;Operating subsidiary&rdquo\; <sp
 an style="text-decoration:underline\;">has the same meaning as in section 
 280.02\, F.S.</span></p><p><span style="text-decoration:underline\;">(11) 
 &ldquo\;Pledgor&rdquo\; has the same meaning as in section 280.02\, F.S.</
 span></p><p><span style="text-decoration:underline\;">(12) &ldquo\;Public 
 deposit&rdquo\; has the same meaning as in section 280.02\, F.S.</span></p
 ><p><span style="text-decoration:underline\;">(13) &ldquo\;Public deposito
 r&rdquo\; has the same meaning as in section 280.02\, F.S.</span><span sty
 le="text-decoration:underline\;"></span></p><p><span style="text-decoratio
 n:underline\;">(14) &ldquo\;Public deposits program&rdquo\; has the same m
 eaning as in section 280.02\, F.S.</span></p><p><span style="text-decorati
 on:underline\;">(15) &ldquo\;Qualified public depository&rdquo\; has the s
 ame meaning as in section 280.02\, F.S. </span></p><p><span style="text-de
 coration:underline\;">(16) &ldquo\;Qualifying change&rdquo\; means an orga
 nizational change that impacts the enforceability of any agreement as it r
 elates to the public deposits program in which the Chief Financial Officer
  is a party. </span></p><p><span style="text-decoration:underline\;">(17) 
 &ldquo\;Report date&rdquo\; means the finalized date of a report.</span></
 p><p><span style="text-decoration:underline\;">(18) &ldquo\;Required colla
 teral" has the same meaning as in section 280.02\, F.S.</span></p><p><span
  style="text-decoration:underline\;">(19) &ldquo\;Special identification n
 umber&rdquo\; means an identifying number assigned by the Chief Financial 
 Officer of a qualified public depository provided to a custodian.</span></
 p><p><em>Rulemaking Authority <span style="text-decoration:underline\;">28
 0.04\, 280.041\, 280.10\, 280.13\,</span> 280.19\, <s>280.041(7)</s> FS. L
 aw Implemented <span style="text-decoration:underline\;">17.001\,</span> <
 s>175.301\, 185.30\,</s> 280.02\, <span style="text-decoration:underline\;
 ">280.03\,</span> 280.04\,<span style="text-decoration:underline\;"> 280.0
 41\,</span> 280.05<s>(16)</s>\,<span style="text-decoration:underline\;"> 
 280.10\, 280.13\,</span> 280.16<s>(1)(b)</s>\, <s>631.221</s> FS. History&
 ndash\;New 2-25-82\, Amended 5-17-84\, 11-29-84\, Formerly 4C-2.04\, Amend
 ed 4-10-86\, 6-28-88\, 1-23-91\, 7-12-92\, 5-27-97\, 4-5-99\, Formerly 4C-
 2.004<span style="text-decoration:underline\;">\,</span></em><span style="
 text-decoration:underline\;"> <em>Amended&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp
 \; </em></span><em>.</em></p><p><em>&nbsp\;</em></p><p>Substantial rewordi
 ng of Rule 69C-2.005<strong> </strong>follows. See Florida Administrative 
 Code for present text.</p><p><strong>69C-2.005 <span style="text-decoratio
 n:underline\;">Designation of a Qualified Public Depository</span> <s>Qual
 ifications for Participation by Banks and Savings Associations</s></strong
 ></p><p><span style="text-decoration:underline\;">(1) To be an applicant\,
  an entity must submit the following in accordance with the instructions t
 herein:</span></p><p><span style="text-decoration:underline\;">(a) Form DF
 S-J1-1516\, Application or Reapplication for Designation\, effective _____
 \, incorporated herein by reference and available at http://www.flrules.or
 g/Gateway/reference.asp?No=Ref-_____\;</span></p><p><span style="text-deco
 ration:underline\;">(b) Form DFS-J1-1000\, Contingent Liability Agreement\
 ,</span><span style="text-decoration:underline\;"> effective _____\, </spa
 n><span style="text-decoration:underline\;">incorporated herein by referen
 ce and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-__
 ___\;</span></p><p><span style="text-decoration:underline\;">(c)</span><sp
 an style="text-decoration:underline\;"> Form DFS-J1-1511\, Qualified Publi
 c Depository Resolutions\, effective _____\, incorporated herein by refere
 nce and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-_
 ____\;</span></p><p><span style="text-decoration:underline\;">(d) Form DFS
 -J1-</span><span style="text-decoration:underline\;">1013\, Attestation St
 atement for Qualified Public Depositories\, effective _____\, incorporated
  by reference in Rule 69C-2.033\, F.A.C.\; and</span></p><p><span style="t
 ext-decoration:underline\;">(e) if using an operating subsidiary\, complet
 e and submit Form DFS-J1-1512\, Operating Subsidiary Resolutions\, effecti
 ve _____\, incorporated herein by reference and available at http://www.fl
 rules.org/Gateway/reference.asp?No=Ref-_____.</span></p><p><span style="te
 xt-decoration:underline\;">(2) After meeting the requirements of subsectio
 n (1)\, the Chief Financial Officer will determine if the applicant meets:
  </span></p><p><span style="text-decoration:underline\;">(a) the definitio
 n of a qualified public depository\, except for designation\, as stated in
  section 280.02\, F.S.\; and</span></p><p><span style="text-decoration:und
 erline\;">(b) the financial rating established for entry in the public dep
 osits program pursuant to section 280.04\, F.S.\, and Rule 69C-2.024\, F.A
 .C.</span></p><p><span style="text-decoration:underline\;">(3) After the a
 pplicant has met the requirements of subsection (2)\, the Chief Financial 
 Officer will\, except as provided in chapter 280\, F.S.\, notify the appli
 cant in writing that before it can be designated by the Chief Financial Of
 ficer as a qualified public depository\, it must:</span></p><p><span style
 ="text-decoration:underline\;">(a) submit a completed collateral arrangeme
 nt agreement\, as defined in Rule 69C-2.004\, F.A.C.\;</span></p><p><span 
 style="text-decoration:underline\;">(b) complete the required deposit of c
 ollateral in accordance with section 280.04\, F.S.\, and Rules 69C-2.006 a
 nd 69C-2.0061\, F.A.C.\; and</span></p><p><span style="text-decoration:und
 erline\;">(c) if required\, submit a signed statement pursuant to section 
 280.042\, F.S.</span></p><p><span style="text-decoration:underline\;">(4) 
 After the applicant has met the requirements of subsection (3)\, the Chief
  Financial Officer will designate it as a qualified public depository.</sp
 an></p><p><span style="text-decoration:underline\;">(5) If an entity seeki
 ng designation as a qualified public depository does not meet the criteria
  to be designated as established in this Rule and chapter 280\, F.S.\, the
  Chief Financial Officer will notify it in writing of this determination.<
 /span></p><p><span style="text-decoration:underline\;">(6) A qualified pub
 lic depository must assign and maintain a primary contact as the individua
 l responsible for the institution&rsquo\;s overall participation in the pu
 blic deposits program. A secondary contact may also be assigned by the qua
 lified public depository.</span></p><p><span style="text-decoration:underl
 ine\;">(a) The&nbsp\; primary and any secondary contact will be as indicat
 ed by the qualified public depository in the Form DFS-J1-1516\, Applicatio
 n or Reapplication for Designation\, incorporated by reference in paragrap
 h (1)(a).</span></p><p><span style="text-decoration:underline\;">(b) Shoul
 d an individual fulfilling either the primary or secondary contact role ch
 ange\, a qualified public depository must update the Chief Financial Offic
 er in the next submission of Form DFS-J1-1003\, Qualified Public Depositor
 y Monthly Report\, incorporated by reference in Rule 69C-2.016\, F.A.C.</s
 pan></p><p><em>Rulemaking Authority <span style="text-decoration:underline
 \;">280.04\, 280.041\, 280.10\,</span> 280.19\, <s>280.041(7)</s> FS. Law 
 Implemented <span style="text-decoration:underline\;">120.60\,</span> 280.
 02<s>(11)</s>\, <span style="text-decoration:underline\;">280.025\,</span>
  280.04<s>(1)</s>\, <span style="text-decoration:underline\;">280.04\, 280
 .041\, 280.042\, 280.05\,</span> 280.07<span style="text-decoration:underl
 ine\;">\,</span> 280.16<span style="text-decoration:underline\;">\,</span>
  FS. History&ndash\;New 2-25-82\, Amended 11-29-84\, Formerly 4C-2.05\, Am
 ended 4-10-86\, 6-28-88\, 1-23-91\, 7-12-92\, Formerly 4C-2.005<span style
 ="text-decoration:underline\;">\, Amended&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp
 \; </span>.</em></p><p><em>&nbsp\;</em></p><p><strong><span style="text-de
 coration:underline\;">69C-2.0051 Change to a Qualified Public Depository o
 r Operating Subsidiary</span></strong></p><p><span style="text-decoration:
 underline\;">(1) In the event of a qualifying change\, as defined in Rule 
 69C-2.004\, F.A.C.\, to a qualified public depository or operating subsidi
 ary\, the entity or entities must re-execute and provide to the Chief Fina
 ncial Officer\, within 30 calendar days of such qualifying change:</span><
 /p><p><span style="text-decoration:underline\;">(a) the collateral arrange
 ment agreement\;</span></p><p><span style="text-decoration:underline\;">(b
 ) Form DFS-J1-1000\, Contingent Liability Agreement\, incorporated by refe
 rence in Rule 69C-2.005\, F.A.C.\;</span></p><p><span style="text-decorati
 on:underline\;">(c) Form DFS-J1-1511\, Qualified Public Depository Resolut
 ions\, incorporated by reference in Rule 69C-2.005\, F.A.C.\; and </span><
 /p><p><span style="text-decoration:underline\;">(d) if using an operating 
 subsidiary\, Form DFS-J1-1512\, Operating Subsidiary Resolutions\, incorpo
 rated by reference in Rule 69C-2.005\, F.A.C.</span></p><p><span style="te
 xt-decoration:underline\;">(2) For a qualified public depository or operat
 ing subsidiary to report a change in name or address to the Chief Financia
 l Officer within 30 calendar days after the effective date of the change\,
  it must complete and submit Form DFS-J1-1003\, Qualified Public Depositor
 y Monthly Report\, incorporated by reference in subsection 69C-2.016(1)\, 
 F.A.C.</span></p><p><em><span style="text-decoration:underline\;">Rulemaki
 ng Authority 280.041\, 280.10\, 280.19\, FS. Law Implemented 280.041\, 280
 .05\, 280.10\, FS. History&ndash\;New &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&
 nbsp\;.</span></em></p><p>&nbsp\;</p><p>Substantial rewording of Rule 69C-
 2.006<strong> </strong>follows. See Florida Administrative Code for presen
 t text.</p><p><strong>69C-2.006 Administration of Collateral Requirements<
 /strong></p><p><span style="text-decoration:underline\;">(1) Each qualifie
 d public depository must deposit with or pledge to the Chief Financial Off
 icer eligible collateral equal to or in excess of its required collateral.
 </span></p><p><span style="text-decoration:underline\;">(2) Prior to initi
 ating a collateral transaction\, the qualified public depository must ensu
 re a current collateral arrangement agreement is on file with the Chief Fi
 nancial Officer.</span></p><p><span style="text-decoration:underline\;">(3
 ) If using cash as collateral and the Chief Financial Officer as the custo
 dian\,&nbsp\; the qualified public depository must complete and submit For
 m DFS-J1-1010\, Proof of Authority\, effective ____\, incorporated by refe
 rence and available at http://www.flrules.org/Gateway/reference.asp?No=Ref
 -_____.</span> </p><p><span style="text-decoration:underline\;">(4) To com
 ply with section 280.04\, F.S.\, a qualified public depository must evalua
 te its public deposits on a daily basis.</span></p><p><span style="text-de
 coration:underline\;">(5) Pursuant to sections 280.04\, 280.05\, 280.11\, 
 280.16\, F.S.\, and Rule 69C-2.024\, F.A.C.\, the Chief Financial Officer 
 will notify a qualified public depository in writing of any special instru
 ctions\, which may include an increase in the collateral-pledging level. T
 he qualified public depository must comply with the Chief Financial Office
 r&rsquo\;s special instructions.</span></p><p><em>Rulemaking Authority <s>
 280.19\,</s> <span style="text-decoration:underline\;">280.04\,</span> 280
 .041<s>(7)</s><span style="text-decoration:underline\;">\,</span> <span st
 yle="text-decoration:underline\;">280.19\,</span> FS. Law Implemented 280.
 02\, 280.04\, 280.05<s>(16)</s>\, <s>280.0016(1)(b)\,</s> 280.16<span styl
 e="text-decoration:underline\;">\,</span> FS. History&ndash\;New 2-25-82\,
  Amended 11-29-84\, Formerly 4C-2.06\, Amended 4-10-86\, 6-28-88\, 1-23-91
 \, 7-12-92\, Formerly 4C-2.006<span style="text-decoration:underline\;">\,
  Amended&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; </span>.</em></p><p>&nbsp\;</p
 ><p><strong><span style="text-decoration:underline\;">69C-2.0061 Maintenan
 ce of Pledged Collateral</span></strong></p><p><span style="text-decoratio
 n:underline\;">(1) The deposit or pledge of collateral must be made</span>
 <span style="text-decoration:underline\;"> by completing the transaction a
 nd simultaneously submitting to the Chief Financial Officer a completed Fo
 rm DFS-J1-1005\, Collateral Transaction Form\, effective _____\, incorpora
 ted herein by reference and available at http://www.flrules.org/Gateway/re
 ference.asp?No=Ref-_____.</span></p><p><span style="text-decoration:underl
 ine\;">(2) Except as provided in section 280.041\, F.S.\, a substitution o
 f collateral may be made by completing the transaction and simultaneously 
 submitting to the Chief Financial Officer a completed Form DFS-J1-1005\, C
 ollateral Transaction Form.</span></p><p><span style="text-decoration:unde
 rline\;">(3) To initiate a withdrawal of collateral request\, a qualified 
 public depository must submit a completed Form DFS-J1-1005\, Collateral Tr
 ansaction Form.</span></p><p><span style="text-decoration:underline\;">(4)
  To initiate a transfer of pledged collateral at the same custodian\, a qu
 alified public depository must submit a completed Form DFS-J1-1005\, Colla
 teral Transaction Form.</span></p><p><span style="text-decoration:underlin
 e\;">(5) To initiate a transfer of previously pledged collateral between c
 ustodians\, a qualified public depository must submit a completed </span><
 span style="text-decoration:underline\;">Form DFS-J1-1005\, Collateral Tra
 nsaction Form\, to the Chief Financial Officer and provide copies to both 
 the recipient custodian and releasing custodian.</span></p><p><span style=
 "text-decoration:underline\;">(6) The Chief Financial Officer will evaluat
 e each collateral transaction and request for a collateral transaction pur
 suant to section 280.13\, F.S.\, and Rule 69C-2.007\, F.A.C. The Chief Fin
 ancial Officer will respond in writing to the qualified public depository 
 and custodian or custodians.</span></p><p><em><span style="text-decoration
 :underline\;">Rulemaking Authority 280.19\, 280.041\, FS. Law Implemented 
 280.02\, 280.04\, 280.041\, 280.05\, FS. History&ndash\;New &nbsp\;&nbsp\;
 &nbsp\;&nbsp\;&nbsp\;&nbsp\;.</span></em></p><p>&nbsp\;</p><p>Substantial 
 rewording of Rule <strong>69C-2.007 </strong>follows. See Florida Administ
 rative Code for present text.</p><p><strong>69C-2.007 Eligible Collateral 
 Criteria and Restrictions</strong></p><p><span style="text-decoration:unde
 rline\;">(1) All eligible securities pursuant to section 280.13\, F.S.\, m
 ust be pledged in a book entry form.</span></p><p><span style="text-decora
 tion:underline\;">(2) Collateralized Mortgage Obligations (CMOs) or Real E
 state Mortgage Investment Conduits (REMICs):</span></p><p><span style="tex
 t-decoration:underline\;">(a) must be a direct obligation of a U.S. Agency
 \;</span></p><p><span style="text-decoration:underline\;">(b) must be in b
 ook entry form\;</span></p><p><span style="text-decoration:underline\;">(c
 ) must not include private label issues</span><span style="text-decoration
 :underline\;">\; and</span></p><p><span style="text-decoration:underline\;
 ">(d) must not include the following classes:</span></p><p><span style="te
 xt-decoration:underline\;">1. interest only\;</span></p><p><span style="te
 xt-decoration:underline\;">2. principal only\;</span></p><p><span style="t
 ext-decoration:underline\;">3. residual\; or</span></p><p><span style="tex
 t-decoration:underline\;">4. zero.</span></p><p><span style="text-decorati
 on:underline\;">(3) To support evaluation of collateral eligibility\, the 
 Chief Financial Officer may request\, in writing\, supporting documentatio
 n the Chief Financial Officer deems necessary pursuant to sections 280.05 
 and 280.13\, F.S.</span></p><p><span style="text-decoration:underline\;">(
 4) In the event that the Chief Financial Officer notifies the qualified pu
 blic depository that the Chief Financial Officer cannot reasonably determi
 ne the rating of any proposed collateral\, the qualified public depository
  must submit\, and continue to submit on a weekly basis\, documentation th
 at supports rating adequacy that meets the requirements of section 280.13(
 3)\, F.S.</span></p><p><span style="text-decoration:underline\;">(5) Pursu
 ant to section 280.13(5)\, F.S.\, letters of credit issued by a Federal Ho
 me Loan Bank may be submitted electronically to the Chief Financial Office
 r.</span></p><p><span style="text-decoration:underline\;">(6) To the exten
 t necessary to protect the integrity of the public deposits program\, the 
 Chief Financial Officer may limit the pledging of the instruments set out 
 in subsections (1)\, (2)\, and (3)\, to a percentage of the total collater
 al pledged by the qualified public depository in accordance with his or he
 r powers enumerated in section 280.05\, F.S.</span></p><p><span style="tex
 t-decoration:underline\;">(7) The following instruments or securities will
  not be acceptable as collateral:</span></p><p><span style="text-decoratio
 n:underline\;">(a) loans of any type\; and</span></p><p><span style="text-
 decoration:underline\;">(b) repurchase and reverse repurchase agreements (
 REPO).</span></p><p><em>Rulemaking Authority <span style="text-decoration:
 underline\;">280.041\,</span> 280.13<s>(2)\, (5)</s>\, 280.19\, <s>280.041
 (7)</s> FS. Law Implemented 280.04<s>(1)</s>\, 280.05\, 280.13<span style=
 "text-decoration:underline\;">\,</span> FS. History&ndash\;New 2-25-82\, A
 mended 11-29-84\, Formerly 4C-2.07\, Amended 4-10-86\, 6-28-88\, 1-23-91\,
  7-12-92\, Formerly 4C-2.007<span style="text-decoration:underline\;">\, A
 mended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em></p><p><em>&
 nbsp\;</em></p><p><strong>69C-2.009 Forms</strong></p><p><em>Rulemaking Au
 thority 280.19\, 280.041(7) FS. Law Implemented 280.04(4)\, 280.041\, 280.
 05\, 280.16\, 280.17 FS. History&ndash\;New 2-25-82\, Amended 5-17-84\, 11
 -29-84\, Formerly 4C-2.09\, Amended 4-10-86\, 6-28-88\, 1-23-91\, 7-12-92\
 , 2-1-93\, 5-27-97\, 4-5-99\, Formerly 4C-2.009<span style="text-decoratio
 n:underline\;">\, Repealed&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; </span>.</em
 ></p><p><em>&nbsp\;</em></p><p><strong>69C-2.0095 Electronic Data Transmis
 sion of Information\, Reports\, and Forms</strong></p><p><em>Rulemaking Au
 thority 280.19 FS. Law Implemented 280.05(16)\, (19)\, 280.16 FS. History&
 ndash\;New 1-23-91\, Formerly 4C-2.025\, Amended 7-12-92\, 4-5-99\, Former
 ly 4C-2.0095<span style="text-decoration:underline\;">\, Repealed &nbsp\;&
 nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em></p><p><em>&nbsp\;</em></p>
 <p><em>Substantial rewording of Rule </em><strong><em>69C-2.010 </em></str
 ong><em>follows. See Florida Administrative Code for present text.</em><em
 ></em></p><p><strong>69C-2.010 <span style="text-decoration:underline\;">I
 nspection and Verification of Financial Information</span> <s>Additional R
 eports and Inspections</s></strong></p><p><span style="text-decoration:und
 erline\;">Each qualified public depository</span><span style="text-decorat
 ion:underline\;"> and custodian must electronically provide or otherwise p
 ermit the Chief Financial Officer to inspect\, verify\, and review all doc
 uments\, reports\, records\, and all other financial information deemed ne
 cessary by the Chief Financial Officer to verify compliance with chapter 2
 80\, F.S. and this rule chapter.</span></p><p><em>Rulemaking Authority <sp
 an style="text-decoration:underline\;">280.041\,</span> 280.19<span style=
 "text-decoration:underline\;">\,</span> FS. Law Implemented <s>280.02\,</s
 > 280.04\, <span style="text-decoration:underline\;">280.041\,</span> 280.
 05\, <span style="text-decoration:underline\;">280.051\,</span> 280.16</em
 ><span style="text-decoration:underline\;">\,</span><em> FS. History&ndash
 \;New 2-25-82\, Amended 11-29-84\, Formerly 4C-2.10\, Amended 4-10-86\, 6-
 28-88\, 1-23-91\, 7-12-92\, Formerly 4C-2.010<span style="text-decoration:
 underline\;">\, Amended&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; </span>.</em></
 p><p><em>&nbsp\;</em></p><p><strong>69C-2.011 Interim Reports by the Chief
  Financial Officer</strong></p><p><em>Rulemaking Authority 280.04(9)\, 280
 .19 FS. Law Implemented 280.01-.05\, 280.07\, 280.08\, 280.09\, 280.10\, 2
 80.11\, 280.13\, 280.16\, 280.17\, 280.18\, 280.19 FS. History&ndash\;New 
 2-25-82\, Amended 11-29-84\, Formerly 4C-2.11\, Amended 4-10-86\, 6-28-88\
 , Repromulgated 1-23-91\, Amended 7-12-92\, Formerly 4C-2.011<span style="
 text-decoration:underline\;">\, Repealed&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\
 ; </span>.</em></p><p><em>&nbsp\;</em></p><p><strong><span style="text-dec
 oration:underline\;">69C-2.016 Financial Information Reports by a Qualifie
 d Public Depository</span></strong></p><p><span style="text-decoration:und
 erline\;">(1) Each qualified public depository must electronically submit 
 to the Chief Financial Officer a completed Form </span><span style="text-d
 ecoration:underline\;">DFS-J1-1003\, Qualified Public Depository Monthly R
 eport\, effective _____\, incorporated herein by reference and available a
 t </span><span style="text-decoration:underline\;">http://www.flrules.org/
 Gateway/reference.asp?No=Ref-_____\, on or before the 15th calendar day\, 
 or next business day\, if the due date falls on a weekend or a Federal Res
 erve Bank holiday.</span></p><p><span style="text-decoration:underline\;">
 (2) If a qualified public depository&rsquo\;s total public deposits decrea
 ses by a minimum of twenty-five percent (25%) over the average daily balan
 ce of the previously reported month\, and the qualified public depository 
 wishes to release pledged collateral\, the qualified public depository mus
 t submit DFS-J1-1003\,</span><span style="text-decoration:underline\;"> Qu
 alified Public Depository Monthly Report\, as a preliminary report. A prel
 iminary report does not satisfy the monthly report requirement pursuant to
  subsection (1) above and section 280.16\, F.S. </span></p><p><span style=
 "text-decoration:underline\;">(3) Each qualified public depository must co
 mplete Form </span><span style="text-decoration:underline\;">DFS-J1-1004\,
  Qualified Public Depository Annual Report\, effective _____\, incorporate
 d herein by reference and available at </span><span style="text-decoration
 :underline\;">http://www.flrules.org/Gateway/reference.asp?No=Ref-_____\, 
 on or before November 30th\, as required by section 280.16\, F.S. </span><
 /p><p><em><span style="text-decoration:underline\;">Rulemaking Authority 2
 80.05\, 280.16 FS. Law Implemented 280.05\, 280.16\, 280.042\, FS. History
 &ndash\;New &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.</span></em><strong
 ><span style="text-decoration:underline\;"></span></strong></p><p><strong>
 &nbsp\;</strong></p><p><strong>69C-2.021 Assessment Calculation</strong></
 p><p><em>Rulemaking Authority 280.04(9)\, 280.19 FS. Law Implemented 280.0
 8(3) FS. History&ndash\;New 6-28-88\, Amended 1-23-91\, 7-12-92\, Formerly
  4C-2.021\, <span style="text-decoration:underline\;">Repealed &nbsp\;&nbs
 p\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em></p><p><em>&nbsp\;</em></p><p>
 Substantial rewording of Rule 69C-2.022<strong> </strong>follows. See Flor
 ida Administrative Code for present text.</p><p><strong>69C-2.022 Requirem
 ents of Public Depositors</strong></p><p><span style="text-decoration:unde
 rline\;">(1) Each public depositor must electronically submit a completed 
 Form DFS-J1-1009\, Public Depositor Annual Report\, effective _____\, inco
 rporated by reference and available at http://www.flrules.org/Gateway/refe
 rence.asp?No=Ref-_____\, annually\, no later than November 30\, to the Chi
 ef Financial Officer\, as required by section 280.17\, F.S. </span></p><p>
 <span style="text-decoration:underline\;">(2) Upon</span><span style="text
 -decoration:underline\;"> a public depositor opening a public deposit acco
 unt\, it must complete Form DFS-J1-1295\, Public Deposit Identification an
 d Acknowledgment Form\, effective _____\, incorporated herein by reference
  and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-____
 _\, and maintain the completed form as required by section 280.17\, F.S. <
 /span></p><p><em>Rulemaking Authority 280.19\, 280.041<s>(7)</s> FS. Law I
 mplemented 280.17<span style="text-decoration:underline\;">\, 280.042\,</s
 pan> FS. History&ndash\;New 6-28-88\, Amended 1-23-91\, 7-12-92\, 4-5-99\,
  Formerly 4C-2.022<span style="text-decoration:underline\;">\, Amended &nb
 sp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em></p><p><em>&nbsp\;</em></p><p
 ><em>Substantial rewording of Rule 69C-2.024</em><strong><em></em></strong
 ><em>follows. See Florida Administrative Code for present text.</em></p><p
 ><strong>69C-2.024 Criteria </strong><strong><span style="text-decoration:
 underline\;">for Assigning Minimum Pledge Percentages</span></strong><stro
 ng> </strong><strong><s>and Guidelines</s></strong><strong> <s>to be Used 
 by the Chief Financial Officer in Administering and Protecting the Integri
 ty of the Public Deposits Program</s><span style="text-decoration:underlin
 e\;"></span></strong></p><p>(1) Entry\, withdrawal\, and continued partici
 pation in the <span style="text-decoration:underline\;">public deposits</s
 pan> program will be based<span style="text-decoration:underline\;">\, in 
 part\,</span> on the overall financial condition of <span style="text-deco
 ration:underline\;">an applicant or a qualified public depository</span>.<
 /p><p>(2) The <span style="text-decoration:underline\;">overall</span> fin
 ancial condition of <span style="text-decoration:underline\;">an applicant
  or a qualified public depository is</span> determined by an analysis of:<
 /p><p>(a) <span style="text-decoration:underline\;">ratios</span> derived 
 from the institution&rsquo\;s <span style="text-decoration:underline\;">Ca
 ll Report or 5300 Call Report\;</span></p><p>(b) trends experienced by <sp
 an style="text-decoration:underline\;">the</span> institution<span style="
 text-decoration:underline\;">\;</span></p><p>(c) <span style="text-decorat
 ion:underline\;">the institution&rsquo\;s</span> average financial conditi
 on <span style="text-decoration:underline\;">rating</span> from two nation
 ally recognized financial rating services\, published quarterly<span style
 ="text-decoration:underline\;">\; and</span></p><p>(d) <span style="text-d
 ecoration:underline\;">any other</span> information relating to the instit
 ution <span style="text-decoration:underline\;">that the Chief Financial O
 fficer determines pertinent</span>.</p><p>(3) <span style="text-decoration
 :underline\;">Except as provided in section 280.04\, F.S.\,</span> the fol
 lowing numerical parameters for entry\, withdrawal\, <span style="text-dec
 oration:underline\;">and</span> collateral pledging levels will apply for 
 <span style="text-decoration:underline\;">an applicant or a qualified publ
 ic depository</span>. Using a scale of <span style="text-decoration:underl
 ine\;">zero (0)</span> to 100\, <span style="text-decoration:underline\;">
 an institution</span> with a quarterly average <span style="text-decoratio
 n:underline\;">combined rating over the four most recent quarters</span> o
 f:</p><p>(a) 20 or more<span style="text-decoration:underline\;">\,</span>
  may join the public deposits program.</p><p>(b) <span style="text-decorat
 ion:underline\;">Zero (0) through</span> 15 must withdraw from the <span s
 tyle="text-decoration:underline\;">public deposits</span> program <span st
 yle="text-decoration:underline\;">or</span> meet the following conditions 
 <span style="text-decoration:underline\;">pursuant to an alternative parti
 cipation agreement through Form DFS-J1-1518\, Alternative Participation Ag
 reement\, effective _____\, incorporated by reference and available at </s
 pan><span style="text-decoration:underline\;">http://www.flrules.org/Gatew
 ay/reference.asp?No=Ref-_____\,</span> as an alternative to withdrawing:</
 p><p>1. <span style="text-decoration:underline\;">establish</span> a maxim
 um amount of public deposits the institution may hold\, which is mutually 
 agreed upon by and between the Chief Financial Officer and the institution
 <span style="text-decoration:underline\;">\;</span></p><p>2. <span style="
 text-decoration:underline\;">deposit or pledge </span>eligible collateral 
 equal to <span style="text-decoration:underline\;">one hundred and fifty p
 ercent (150%)</span> of the amount of public deposits agreed to pursuant t
 o subparagraph 1<span style="text-decoration:underline\;">\;</span></p><p>
 <span style="text-decoration:underline\;">3. if required by the Chief Fina
 ncial Officer pursuant to section 280.041(6)\, F.S.\, use a Chief Financia
 l Officer&rsquo\;s custodian to safekeep all required collateral and be bo
 und by a Chief Financial Officer&rsquo\;s custodial contract as directed b
 y the Chief Financial Officer\; and</span></p><p><span style="text-decorat
 ion:underline\;">4.</span> <span style="text-decoration:underline\;">submi
 t</span> each month\, and whenever requested by the Chief Financial Office
 r\, a <span style="text-decoration:underline\;">schedule</span> listing al
 l public deposits <span style="text-decoration:underline\;">accounts and b
 alances</span> held for the credit of all public depositors.</p><p><span s
 tyle="text-decoration:underline\;">(c) 16 through 29 must pledge collatera
 l at a one hundred and ten percent (110%) level.</span></p><p><span style=
 "text-decoration:underline\;">(d) at the discretion of the Chief Financial
  Officer\,</span> 30 <span style="text-decoration:underline\;">through</sp
 an> 69 may pledge collateral at a fifty percent (50%) level.</p><p><span s
 tyle="text-decoration:underline\;">(e) at the discretion of the Chief Fina
 ncial Officer\,</span> 70 and above may pledge collateral at a twenty-five
  percent (25%) level.</p><p>(4) On a quarterly basis\, the Chief Financial
  Officer will review the average rating of each <span style="text-decorati
 on:underline\;">qualified public depository and will notify each qualified
  public depository whose</span> collateral pledging level and requirements
  <span style="text-decoration:underline\;">has changed</span>\, and any ot
 her action required or relevant to the institution&rsquo\;s continued part
 icipation in the <span style="text-decoration:underline\;">public deposits
  program.</span></p><p><span style="text-decoration:underline\;">(5) The C
 hief Financial Officer may assign a collateral pledging level that differs
  from those recommended in paragraph (3) where: </span></p><p><span style=
 "text-decoration:underline\;">(a) the Chief Financial Officer&rsquo\;s ana
 lysis indicates that a qualified public depository&rsquo\;s current financ
 ial condition is either stronger or weaker than the latest average financi
 al condition rating indicates\;</span></p><p><span style="text-decoration:
 underline\;">(b) a qualified public depository is subject to a regulatory 
 or enforcement action that cites safety and soundness considerations\;</sp
 an></p><p><span style="text-decoration:underline\;">(c) a qualified public
  depository violates any provision of chapter 280\, F.S. or this rule chap
 ter\; </span></p><p><span style="text-decoration:underline\;">(d) a materi
 al event occurred involving the qualified public depository or the banking
  sector as a whole that threatens the integrity of the public deposits pro
 gram\; or</span></p><p><span style="text-decoration:underline\;">(e) the C
 hief Financial Officer deems the exception necessary pursuant to section 2
 80.05\, F.S.</span></p><p><em>Rulemaking Authority 280.04(1)\, 280.19 FS. 
 Law Implemented 280.04\, 280.05<s>(6)</s>\, 280.16\, 280.17 FS. History&nd
 ash\;New 1-23-91\, Amended 7-12-92\, Formerly 4C-2.024</em><em><span style
 ="text-decoration:underline\;">\, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbs
 p\;</span></em><em>.</em></p><p><em>&nbsp\;</em></p><p><em>Substantial rew
 ording of Rule 69C-2.026</em><strong><em></em></strong><em>follows. See Fl
 orida Administrative Code for present text.</em></p><p><strong>69C-2.026 A
 dministration of Payment of Losses</strong></p><p><span style="text-decora
 tion:underline\;">In the event of the insolvency or default of a qualified
  public depository\, each public depositor having a claim against the Publ
 ic Deposits Trust Fund must file a claim with the Chief Financial Officer 
 consistent with section 280.085\, F.S.\, on Form DFS-J1-1012\, Public Depo
 sits Claim Form and Agreement\, effective _____\, incorporated by referenc
 e and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-___
 __. Along with the claim form\, the public depositor must submit:</span></
 p><p><span style="text-decoration:underline\;">(1) proof of authority as s
 pecified by Rule 69C-2.032\, F.A.C.\; and</span></p><p><span style="text-d
 ecoration:underline\;">(2) Form DFS-J1-1295\, Public Deposit Identificatio
 n and Acknowledgment\, incorporated by reference in Rule 69C-2.022\, F.A.C
 .\, for each respective public deposit account.</span></p><p><em>Rulemakin
 g Authority 280.19 FS. Law Implemented <span style="text-decoration:underl
 ine\;">280.042\, </span>280.08\, 280.085\, 280.10\, 280.17<s>(1)(b)</s>\, 
 FS. History&ndash\;New 7-12-92\, Amended 2-1-93\, 4-5-99\, Formerly 4C-2.0
 26<span style="text-decoration:underline\;">\, Amended&nbsp\;&nbsp\;&nbsp\
 ;&nbsp\;&nbsp\; .</span></em></p><p><em>&nbsp\;</em></p><p><em>Substantial
  rewording of Rule 69C-2.027</em><strong><em></em></strong><em>follows. Se
 e Florida Administrative Code for present text.</em></p><p><strong>69C-2.0
 27 <span style="text-decoration:underline\;">Voluntary Withdrawal</span> <
 s>Effective Date of Withdrawal Due to an Acquisition or Merger</s></strong
 ></p><p><span style="text-decoration:underline\;">To withdrawal a designat
 ion as a qualified public depository\, the qualified public depository mus
 t submit Form DFS-J1-1519\, Notice of Withdrawal\,</span><span style="text
 -decoration:underline\;"> effective _____\, incorporated by reference and 
 available at </span><span style="text-decoration:underline\;">http://www.f
 lrules.org/Gateway/reference.asp?No=Ref-_____.</span><span style="text-dec
 oration:underline\;"></span></p><p><em>Rulemaking Authority 280.10<s>(7)</
 s>\, 280.19 FS. Law Implemented 280.09<s>(2)</s>\, 280.10\, 280.11 FS. His
 tory&ndash\;New 7-12-92\, Formerly 4C-2.027<span style="text-decoration:un
 derline\;">\, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;.</span></
 em></p><p><em>&nbsp\;</em></p><p><em>Substantial rewording of Rule 69C-2.0
 28</em><strong><em></em></strong><em>follows. See Florida Administrative C
 ode for present text.</em></p><p><strong>69C-2.028 Ownership of Collateral
  by an Operating Subsidiary of the Qualified Public Depository</strong></p
 ><p>Collateral securing public deposits may\, at the discretion of the <sp
 an style="text-decoration:underline\;">qualified public depository</span>\
 , be owned in the name of an <span style="text-decoration:underline\;">ope
 rating subsidiary</span> if:</p><p>(1) 100% of the stock of the operating 
 subsidiary is owned and controlled by the <span style="text-decoration:und
 erline\;">qualified public depository</span>\;</p><p>(2) <span style="text
 -decoration:underline\;">the operating subsidiary</span> is a party to and
  bound by all the terms of <span style="text-decoration:underline\;">Form 
 DFS-J1-1000\, Contingent Liability Agreement\, incorporated by reference i
 n Rule 69C-2.005\, F.A.C.</span>\;</p><p>(3) <span style="text-decoration:
 underline\;">the operating subsidiary</span> is a party to and bound by al
 l the terms of <span style="text-decoration:underline\;">Form DFS-J1-1001\
 , Collateral Control Agreement\, incorporated by reference in Rule 69C-2.0
 04\, F.A.C.</span>\;</p><p><span style="text-decoration:underline\;">(4) t
 he operating subsidiary is a party to and bound by all the terms of DFS-J1
 -1014\, Cash Arrangement Agreement\, incorporated by reference in Rule 69C
 -2.004\, F.A.C.\, when using cash as collateral and the Chief Financial Of
 ficer as the custodian\;</span></p><p><span style="text-decoration:underli
 ne\;">(</span><span style="text-decoration:underline\;">5) both the board 
 of directors for the qualified public depository and the board of director
 s for the operating subsidiary have approved Forms DFS-J1-1000\, Contingen
 t Liability Agreement\, incorporated by reference in Rule 69C-2.005\, F.A.
 C.\; DFS-J1-1001\, Collateral Control Agreement\, incorporated by referenc
 e in Rule 69C-2.004\, F.A.C.\; and DFS-J1-1014\, Cash Arrangement Agreemen
 t\, incorporated by reference in Rule 69C-2.004\, F.A.C.\, which must be r
 eflected in or on:</span></p><p><span style="text-decoration:underline\;">
 (a) the minutes of each respective board\;</span></p><p><span style="text-
 decoration:underline\;">(b) Form DFS-J1-1511\, Qualified Public Depository
  Resolutions\, incorporated by reference in Rule 69C-2.005\, F.A.C.\, comp
 leted by the qualified public depository\; and</span></p><p><span style="t
 ext-decoration:underline\;">(c) Form DFS-J1-1512\, Operating Subsidiary Re
 solutions\, incorporated by reference in Rule 69C-2.005\, F.A.C.\, complet
 ed by the operating subsidiary\;</span></p><p><span style="text-decoration
 :underline\;">(6) the</span> Chief Financial Officer does not disapprove t
 he ownership of the collateral by the <span style="text-decoration:underli
 ne\;">operating subsidiary</span> as determined within his or her discreti
 onary powers set forth in section 280.041(6)\, F.S.\; and</p><p><span styl
 e="text-decoration:underline\;">(7) the qualified public depository remain
 s</span> fully responsible and accountable for the actions of its <span st
 yle="text-decoration:underline\;">operating subsidiary and is</span> subje
 ct to administrative action pursuant to <span style="text-decoration:under
 line\;">chapter</span> 280\, F.S.</p><p><em>Rulemaking Authority 280.19\, 
 280.041<s>(7)</s> FS. Law Implemented 280.02\, 280.04\, 280.05 FS. History
 &ndash\;New 5-27-97\, Formerly 4C-2.028<span style="text-decoration:underl
 ine\;">\, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em><
 /p><p><em>&nbsp\;</em></p><p><em>Substantial rewording of Rule </em><em>69
 C-2.029<strong> </strong>follows. See Florida Administrative Code for pres
 ent text.</em></p><p><strong>69C-2.029 Use of <span style="text-decoration
 :underline\;">an</span> </strong><strong><s>Authorized</s></strong><strong
 > Agent <span style="text-decoration:underline\;">by a Qualified Public De
 pository</span></strong></p><p><span style="text-decoration:underline\;">T
 he use of an agent by a qualified public depository\, or if one is used\, 
 by an operating subsidiary\, is prohibited.</span></p><p><em>Rulemaking Au
 thority 280.19\, 280.041(7) FS. Law Implemented 280.02\, 280.04\, 280.05 F
 S. History&ndash\;New 5-27-97\, Formerly 4C-2.029<span style="text-decorat
 ion:underline\;">\, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</sp
 an>.</em></p><p><em>&nbsp\;</em></p><p><em>Substantial rewording of Rule 6
 9C-2.030</em><strong><em></em></strong><em>follows. See Florida Administra
 tive Code for present text.</em></p><p><strong>69C-2.030 Use of <span styl
 e="text-decoration:underline\;">an Agent</span> <s>Agents</s> by <span sty
 le="text-decoration:underline\;">a Custodian</span> <s>Custodians of Colla
 teral</s> </strong></p><p><span style="text-decoration:underline\;">(1) Th
 e use of an agent by a custodian is prohibited unless specifically authori
 zed by the Chief Financial Officer in writing. </span></p><p><span style="
 text-decoration:underline\;">(2) To request permission to use a custodial 
 agent\, the custodian must submit such request in writing to the Chief Fin
 ancial Officer and include the following:</span></p><p><span style="text-d
 ecoration:underline\;">(a) proof that the agent meets the definition of a 
 custodian in&nbsp\;section 280.02\, F.S.\;</span></p><p><span style="text-
 decoration:underline\;">(b) a complete collateral control agreement\, Form
  DFS-J1-1001\, incorporated by reference in Rule 69C-2.004\, F.A.C.\; and<
 /span></p><p><span style="text-decoration:underline\;">(c) proof of the ag
 ency relationship between the custodian and agent.</span></p><p><em>Rulema
 king Authority 280.19\, 280.041(7) FS. Law Implemented 280.02\, 280.04\, 2
 80.05 FS. History&ndash\;New 5-27-97\, Formerly 4C-2.030<span style="text-
 decoration:underline\;">\, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbs
 p\;</span>.</em></p><p><em>&nbsp\;</em></p><p><em>Substantial rewording of
  Rule 69C-2.031</em><strong><em></em></strong><em>follows. See Florida Adm
 inistrative Code for present text.</em></p><p><strong>69C-2.031 <span styl
 e="text-decoration:underline\;">Confirmation Information of Pledged Collat
 eral</span> <s>Format for Confirmations from Custodians</s></strong></p><p
 ><span style="text-decoration:underline\;">(1) To confirm information of p
 ledged collateral\, a custodian:</span></p><p><span style="text-decoration
 :underline\;">(a) must confirm pledged collateral:</span></p><p><span styl
 e="text-decoration:underline\;">1. whose account name on the records of th
 e custodian is the specified pledgor\; and</span></p><p><span style="text-
 decoration:underline\;">2. that is pledged to the Chief Financial Officer 
 to secure public deposits pursuant to the Florida Security for Public Depo
 sits Act\;</span></p><p><span style="text-decoration:underline\;">(b) must
  not confirm pledged collateral that is either:</span></p><p><span style="
 text-decoration:underline\;">1. recorded under any account name other than
  the pledgor\;</span></p><p><span style="text-decoration:underline\;">2. n
 ot pledged to the Chief Financial Officer\; or</span></p><p><span style="t
 ext-decoration:underline\;">3. pledged for purposes other than to secure p
 ublic deposits pursuant to the Florida Security for Public Deposits Act.</
 span></p><p><span style="text-decoration:underline\;">(2) The confirmation
  information of pledged collateral must contain all of the following data 
 applicable to a specific collateral type:</span></p><p><span style="text-d
 ecoration:underline\;">(a) report date\;</span></p><p><span style="text-de
 coration:underline\;">(b) special identification number\;</span></p><p><sp
 an style="text-decoration:underline\;">(c) custodian federal employer iden
 tification number (FEIN)\;</span></p><p><span style="text-decoration:under
 line\;">(d) custodian legal name\;</span></p><p><span style="text-decorati
 on:underline\;">(e) pledgor&rsquo\;s legal name\;</span></p><p><span style
 ="text-decoration:underline\;">(f) pledgor&rsquo\;s FEIN\;</span></p><p><s
 pan style="text-decoration:underline\;">(g) identifying number for collate
 ral\; and</span></p><p><span style="text-decoration:underline\;">(h) origi
 nal par or face amount or number of units or shares.</span></p><p><span st
 yle="text-decoration:underline\;">(3) The custodian must restrict abbrevia
 tions used in the confirmation to those accepted industry wide.</span></p>
 <p><span style="text-decoration:underline\;">(4) Except as provided in (5)
 \, to provide confirmation information of pledged collateral as described 
 in subsections (1) and (2)\, the custodian must facilitate secure electron
 ic data exchange\, daily\, to a third-party vendor procured by the Chief F
 inancial Officer which allows access to the Florida public depository cust
 odial accounts of each qualified public depository.</span></p><p><span sty
 le="text-decoration:underline\;">(5) Only if directed by the Chief Financi
 al Officer\, or his or her designee\, a custodian must provide the confirm
 ation information of pledged collateral as described in subsections (1) an
 d (2)\, to the Chief Financial Officer electronically through email at Col
 lateralManagement</span><span style="text-decoration:underline\;">@myflori
 dacfo.com.</span></p><p><span style="text-decoration:underline\;">(6) With
 in 120 calendar days after the effective date of this Rule\, a custodian m
 ust be fully compliant with subsection (4).</span></p><p><em>Rulemaking Au
 thority <span style="text-decoration:underline\;">280.041\,</span> 280.19\
 , <s>280.041(7)</s> FS. Law Implemented 280.02\, 280.04\, <span style="tex
 t-decoration:underline\;">280.041\,</span> 280.05 FS. History&ndash\;New 5
 -27-97\, Formerly 4C-2.031<span style="text-decoration:underline\;">\, Ame
 nded &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em></p><p><em>&nb
 sp\;</em></p><p><em>Substantial rewording of Rule 69C-2.032</em><strong><e
 m></em></strong><em>follows. See Florida Administrative Code for present t
 ext.</em></p><p><strong>69C-2.032<span style="text-decoration:underline\;"
 > Proof of Authority for the</span> Execution of Forms<s>\, Proof of Autho
 rization</s></strong></p><p>(1) <span style="text-decoration:underline\;">
 The</span> following forms <span style="text-decoration:underline\;">must 
 be executed in accordance with subsection (2) and submitted to the Chief F
 inancial Officer </span>on behalf of the <span style="text-decoration:unde
 rline\;">qualified public depository</span>:</p><p><span style="text-decor
 ation:underline\;">(a) DFS-J1-1000\, Contingent Liability Agreement\, inco
 rporated by reference in Rule 69C-2.005\, F.A.C.\;</span></p><p><span styl
 e="text-decoration:underline\;">(b) DFS-J1-1001\, Collateral Control Agree
 ment\, incorporated by reference in Rule 69C-2.004\, F.A.C.\;</span></p><p
 ><span style="text-decoration:underline\;">(c) DFS-J1-1014\, Cash Arrangem
 ent Agreement\, incorporated by reference in Rule 69C-2.004\, F.A.C.\;</sp
 an></p><p><span style="text-decoration:underline\;">(d) DFS-J1-1510\, Fede
 ral Home Loan Bank Letters of Credit Agreement\, incorporated by reference
  in Rule 69C-2.004\, F.A.C.\;</span></p><p><span style="text-decoration:un
 derline\;">(e) DFS-J1-1518\, Alternative Participation Agreement\, incorpo
 rated by reference in Rule 69C-2.024\, F.A.C.\;</span></p><p><span style="
 text-decoration:underline\;">(f) DFS-J1-1519\, Notice of Withdrawal\, inco
 rporated by reference in Rule 69C-2.027\, F.A.C.\; and</span></p><p><span 
 style="text-decoration:underline\;">(g) DFS-J1-1013\, Attestation Statemen
 t for Qualified Public Depositories\, incorporated by reference in Rule 69
 C-2.033\, F.A.C.</span></p><p><span style="text-decoration:underline\;">(2
 ) An individual&rsquo\;s proof of authority to execute a form or forms on 
 behalf of a qualified public depository and\, if one is used\, an operatin
 g subsidiary\, must be demonstrated by submitting one of the following to 
 the Chief Financial Officer: </span></p><p><span style="text-decoration:un
 derline\;">(a) Form DFS-J1-1010\, Proof of Authority\, incorporated by ref
 erence in Rule 69C-2.006\, F.A.C.\;</span></p><p><span style="text-decorat
 ion:underline\;">(b) The organization&rsquo\;s charter\, constitution\, by
 laws\, or other evidence of the governing body\, authorizing the individua
 l signing the form by name or title to sign such a document on behalf of t
 he organization\; or</span></p><p><span style="text-decoration:underline\;
 ">(c) Evidence of incumbency through a certificate of incumbency for the q
 ualified public depository.</span></p><p><span style="text-decoration:unde
 rline\;">(3) Form DFS-J1-1012\, Public Deposit Claim Form and Agreement\, 
 incorporated by reference in Rule 69C-2.026 F.A.C.\, must be executed by a
 n official custodian or delegate of the public depositor\, as defined in 6
 9C-2.004\, F.A.C.\, and submitted to the Chief Financial Officer.</span></
 p><p><em>Rulemaking Authority 280.19<span style="text-decoration:underline
 \;">\,</span> FS. Law Implemented 280.02\,<span style="text-decoration:und
 erline\;"> 280.025\,</span> 280.04\, 280.05\, 280.16\, 280.17<span style="
 text-decoration:underline\;">\,</span> FS. History&ndash\;New 5-27-97\, Am
 ended 4-5-99\, Formerly 4C-2.032<span style="text-decoration:underline\;">
 \, Amended &nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\;</span>.</em></p><p><
 strong>&nbsp\;</strong></p><p><strong><span style="text-decoration:underli
 ne\;">69C-2.034 Disqualification\, Suspension\, and Administrative Penalty
 </span></strong></p><p><span style="text-decoration:underline\;">(1) Disci
 plinary guidelines. This rule establishes disciplinary procedures and guid
 elines supplemental to chapter 120\, F.S.\, and sections 280.051 through 2
 80.06\, F.S.\, for a qualified public depository\, either an applicant or 
 designee\, regarding the public deposits program. The Chief Financial Offi
 cer may impose a penalty or penalties upon a determination that a qualifie
 d public depository\, applicant or designee\, has violated any provision o
 f this rule chapter or chapter 280\, F.S.</span></p><p><span style="text-d
 ecoration:underline\;">(2) Procedures for Discipline. The procedures for d
 iscipline are set forth in section 280.052 and chapter 120\, F.S. </span><
 /p><p><span style="text-decoration:underline\;">(3) Mitigating and Aggrava
 ting Factors. In determining the appropriate </span><span style="text-deco
 ration:underline\;">disciplinary action to be imposed under sections 280.0
 53 and 280.54\, F.S.\, the Chief Financial Officer will consider aggravati
 ng and mitigating factors under the circumstances\, which includes:</span>
 </p><p><span style="text-decoration:underline\;">(a) the danger to the pub
 lic health\, safety\, or welfare\;</span></p><p><span style="text-decorati
 on:underline\;">(b) number of counts or violations\;</span></p><p><span st
 yle="text-decoration:underline\;">(c) the monetary harm caused to the stat
 e of Florida and any public depositor\;</span></p><p><span style="text-dec
 oration:underline\;">(d) the non-monetary harm caused to the state of Flor
 ida and any public depositor\;</span></p><p><span style="text-decoration:u
 nderline\;">(e) whether the violation or violations were willful\;</span><
 /p><p><span style="text-decoration:underline\;">(f) the deterrent effect o
 f the penalty imposed\;</span></p><p><span style="text-decoration:underlin
 e\;">(g) improvement or correction efforts since the violation\;</span></p
 ><p><span style="text-decoration:underline\;">(h) the length of time since
  the date of the violation\; </span></p><p><span style="text-decoration:un
 derline\;">(i) the number of previous </span><span style="text-decoration:
 underline\;">disciplinary cases filed against the qualified public deposit
 ory\; and</span></p><p><span style="text-decoration:underline\;">(j) any o
 ther relevant mitigating or aggravating circumstances.</span></p><p><em><s
 pan style="text-decoration:underline\;">Rulemaking Authority 280.052\, 280
 .19\, FS. Law Implemented 280.02\, 280.025\, 280.03\, 280.04\, 280.041\, 2
 80.05\, 280.051\, 280.052\, 280.053\, 280.54\, 280.055\, 280.06\, 280.07\,
  280.08\, 280.10\, 280.11\, 280.13\, 280.16\, 280.17\, FS. History&ndash\;
 New&nbsp\;&nbsp\;&nbsp\;&nbsp\;&nbsp\; .</span></em></p><p>&nbsp\;</p><p>&
 nbsp\;</p><p>NAME OF PERSON ORIGINATING PROPOSED RULE: Sarah Pons\, Bureau
  Chief </p><p>NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Jimmy Pa
 tronis\, Chief Financial Officer</p><p>DATE PROPOSED RULE APPROVED BY AGEN
 CY HEAD: July 1\, 2024</p><p>DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBL
 ISHED IN FAR: July 2\, 2024</p><p>&nbsp\;</p><p>To view the Notice of Prop
 osed Rule\, visit:&nbsp\;<a href="https://www.flrules.org/gateway/RuleNo.a
 sp?title=PROCEDURES%20FOR%20ADMINISTERING%20THE%20FLORIDA%20SECURITY%20FOR
 %20PUBLIC%20DEPOSITS%20ACT&amp\;ID=69C-2.001">https://www.flrules.org/gate
 way/RuleNo.asp?title=PROCEDURES%20FOR%20ADMINISTERING%20THE%20FLORIDA%20SE
 CURITY%20FOR%20PUBLIC%20DEPOSITS%20ACT&amp\;ID=69C-2.001</a>&nbsp\;</p><p>
 To view Hearing Agenda:&nbsp\;<a href="https://myfloridacfo.com/docs-sf/ge
 neral-counsel-libraries/generalcounsel-documents/rule-hearing-agenda-for-6
 9c-2.docx?sf_site_temp=true&amp\;sf_site=00000000-0000-0000-0000-000000000
 000&amp\;sfvrsn=862cf647_1">https://myfloridacfo.com/docs-sf/general-couns
 el-libraries/generalcounsel-documents/rule-hearing-agenda-for-69c-2.docx</
 a>&nbsp\;</p><p><span style="background-color:transparent\;color:inherit\;
 font-family:inherit\;font-size:inherit\;text-align:inherit\;text-transform
 :inherit\;word-spacing:normal\;caret-color:auto\;white-space:inherit\;">To
  view draft forms:</span></p><p>DFS-J1-1000\,&nbsp\;<a href="https://myflo
 ridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs
 -j1-1000-contingent-liability-agreement-draft.pdf?sf_site_temp=true&amp\;s
 f_site=00000000-0000-0000-0000-000000000000&amp\;sfvrsn=6bc5379c_1">https:
 //myfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-docume
 nts/dfs-j1-1000-contingent-liability-agreement-draft.pdf</a>&nbsp\;</p><p>
 DFS-J1-1001\,&nbsp\;<a href="https://myfloridacfo.com/docs-sf/general-coun
 sel-libraries/generalcounsel-documents/dfs-j1-1001-collateral-control-agre
 ement-draft.pdf?sf_site_temp=true&amp\;sf_site=00000000-0000-0000-0000-000
 000000000&amp\;sfvrsn=e8396def_1">https://myfloridacfo.com/docs-sf/general
 -counsel-libraries/generalcounsel-documents/dfs-j1-1001-collateral-control
 -agreement-draft.pdf</a>&nbsp\;</p><p>DFS-J1-1003\,&nbsp\;<a href="https:/
 /myfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-documen
 ts/dfs-j1-1003-qualified-public-depository-monthly-report-draft.pdf?sf_sit
 e_temp=true&amp\;sf_site=00000000-0000-0000-0000-000000000000&amp\;sfvrsn=
 bf040bc0_1">https://myfloridacfo.com/docs-sf/general-counsel-libraries/gen
 eralcounsel-documents/dfs-j1-1003-qualified-public-depository-monthly-repo
 rt-draft.pdf</a>&nbsp\;</p><p>DFS-J1-1004\,&nbsp\;<a href="https://myflori
 dacfo.com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j
 1-1004-qualified-public-depository-annual-report-draft.pdf?sf_site_temp=tr
 ue&amp\;sf_site=00000000-0000-0000-0000-000000000000&amp\;sfvrsn=c6d93959_
 1">https://myfloridacfo.com/docs-sf/general-counsel-libraries/generalcouns
 el-documents/dfs-j1-1004-qualified-public-depository-annual-report-draft.p
 df</a>&nbsp\;</p><p>DFS-J1-1005\,&nbsp\;<a href="https://myfloridacfo.com/
 docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1005-col
 lateral-transaction-form-draft.pdf?sf_site_temp=true&amp\;sf_site=00000000
 -0000-0000-0000-000000000000&amp\;sfvrsn=d0379f_1">https://myfloridacfo.co
 m/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1005-c
 ollateral-transaction-form-draft.pdf</a>&nbsp\;</p><p>DFS-J1-1009\,&nbsp\;
 <a href="https://myfloridacfo.com/docs-sf/general-counsel-libraries/genera
 lcounsel-documents/dfs-j1-1009-public-depositor-annual-report-draft.pdf?sf
 _site_temp=true&amp\;sf_site=00000000-0000-0000-0000-000000000000&amp\;sfv
 rsn=98fe85fa_1">https://myfloridacfo.com/docs-sf/general-counsel-libraries
 /generalcounsel-documents/dfs-j1-1009-public-depositor-annual-report-draft
 .pdf</a>&nbsp\;</p><p>DFS-J1-1010\,&nbsp\;<a href="https://myfloridacfo.co
 m/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1010-p
 roof-of-authority-draft.pdf?sf_site_temp=true&amp\;sf_site=00000000-0000-0
 000-0000-000000000000&amp\;sfvrsn=ea8e2799_1">https://myfloridacfo.com/doc
 s-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1010-proof-
 of-authority-draft.pdf</a>&nbsp\;</p><p>DFS-J1-1012\,&nbsp\;<a href="https
 ://myfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-docum
 ents/dfs-j1-1012-public-deposit-claim-form-and-agreement-draft.pdf?sf_site
 _temp=true&amp\;sf_site=00000000-0000-0000-0000-000000000000&amp\;sfvrsn=3
 4385ff1_1">https://myfloridacfo.com/docs-sf/general-counsel-libraries/gene
 ralcounsel-documents/dfs-j1-1012-public-deposit-claim-form-and-agreement-d
 raft.pdf</a>&nbsp\;</p><p>DFS-J1-1014\,&nbsp\;<a href="https://myfloridacf
 o.com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-10
 14-cash-arrangement-agreement-draft.pdf?sf_site_temp=true&amp\;sf_site=000
 00000-0000-0000-0000-000000000000&amp\;sfvrsn=62d43e25_1">https://myflorid
 acfo.com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1
 -1014-cash-arrangement-agreement-draft.pdf</a>&nbsp\;</p><p>DFS-J1-1295\,&
 nbsp\;<a href="https://myfloridacfo.com/docs-sf/general-counsel-libraries/
 generalcounsel-documents/dfs-j1-1295-public-deposit-identification-and-ack
 nowledgment-form-draft.pdf?sf_site_temp=true&amp\;sf_site=00000000-0000-00
 00-0000-000000000000&amp\;sfvrsn=503741e3_1">https://myfloridacfo.com/docs
 -sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1295-public-
 deposit-identification-and-acknowledgment-form-draft.pdf</a>&nbsp\;</p><p>
 DFS-J1-1510\,&nbsp\;<a href="https://myfloridacfo.com/docs-sf/general-coun
 sel-libraries/generalcounsel-documents/dfs-j1-1510-federal-home-loan-bank-
 letters-of-credit-agreement-draft.pdf?sf_site_temp=true&amp\;sf_site=00000
 000-0000-0000-0000-000000000000&amp\;sfvrsn=f3745de8_1">https://myfloridac
 fo.com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1
 510-federal-home-loan-bank-letters-of-credit-agreement-draft.pdf</a>&nbsp\
 ;</p><p>DFS-J1-1511\,&nbsp\;<a href="https://myfloridacfo.com/docs-sf/gene
 ral-counsel-libraries/generalcounsel-documents/dfs-j1-1511-qualified-publi
 c-depository-resolutions-draft.pdf?sf_site_temp=true&amp\;sf_site=00000000
 -0000-0000-0000-000000000000&amp\;sfvrsn=36de769b_1">https://myfloridacfo.
 com/docs-sf/general-counsel-libraries/generalcounsel-documents/dfs-j1-1511
 -qualified-public-depository-resolutions-draft.pdf</a>&nbsp\;</p><p>DFS-J1
 -1512\,&nbsp\;<a href="https://myfloridacfo.com/docs-sf/general-counsel-li
 braries/generalcounsel-documents/dfs-j1-1512-operating-subsidiary-resoluti
 ons-draft.pdf?sf_site_temp=true&amp\;sf_site=00000000-0000-0000-0000-00000
 0000000&amp\;sfvrsn=42be28e3_1">https://myfloridacfo.com/docs-sf/general-c
 ounsel-libraries/generalcounsel-documents/dfs-j1-1512-operating-subsidiary
 -resolutions-draft.pdf</a>&nbsp\;</p><p>DFS-J1-1516\,&nbsp\;<a href="https
 ://myfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-docum
 ents/dfs-j1-1516-application-or-reapplication-for-designation-draft.pdf?sf
 _site_temp=true&amp\;sf_site=00000000-0000-0000-0000-000000000000&amp\;sfv
 rsn=5eaddec8_1">https://myfloridacfo.com/docs-sf/general-counsel-libraries
 /generalcounsel-documents/dfs-j1-1516-application-or-reapplication-for-des
 ignation-draft.pdf</a>&nbsp\;</p><p>DFS-J1-1518\,&nbsp\;<a href="https://m
 yfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-documents
 /dfs-j1-1518-alternative-participation-agreement-draft.pdf?sf_site_temp=tr
 ue&amp\;sf_site=00000000-0000-0000-0000-000000000000&amp\;sfvrsn=dd27507a_
 1">https://myfloridacfo.com/docs-sf/general-counsel-libraries/generalcouns
 el-documents/dfs-j1-1518-alternative-participation-agreement-draft.pdf</a>
 &nbsp\;</p><p>DFS-J1-1519\,&nbsp\;<a href="https://myfloridacfo.com/docs-s
 f/general-counsel-libraries/generalcounsel-documents/dfs-j1-1519-notice-of
 -withdrawal-draft.pdf?sf_site_temp=true&amp\;sf_site=00000000-0000-0000-00
 00-000000000000&amp\;sfvrsn=c2a0271e_1">https://myfloridacfo.com/docs-sf/g
 eneral-counsel-libraries/generalcounsel-documents/dfs-j1-1519-notice-of-wi
 thdrawal-draft.pdf</a>&nbsp\;</p><p>DFS-J1-1535\,&nbsp\;<a href="https://m
 yfloridacfo.com/docs-sf/general-counsel-libraries/generalcounsel-documents
 /dfs-j1-1535-federal-home-loan-bank-member-resolution-draft.pdf?sf_site_te
 mp=true&amp\;sf_site=00000000-0000-0000-0000-000000000000&amp\;sfvrsn=5c3d
 558c_1">https://myfloridacfo.com/docs-sf/general-counsel-libraries/general
 counsel-documents/dfs-j1-1535-federal-home-loan-bank-member-resolution-dra
 ft.pdf</a>&nbsp\;</p><p>&nbsp\;<br /><strong style="background-color:trans
 parent\;color:inherit\;font-size:inherit\;text-align:inherit\;text-transfo
 rm:inherit\;word-spacing:normal\;caret-color:auto\;white-space:inherit\;">
 Attorney</strong><span style="background-color:transparent\;color:inherit\
 ;font-family:inherit\;font-size:inherit\;text-align:inherit\;text-transfor
 m:inherit\;word-spacing:normal\;caret-color:auto\;white-space:inherit\;">:
  Nathan Koch</span></p>
END:VEVENT
END:VCALENDAR