QPD Application Materials
The documents below provide all the necessary information and forms for a bank or savings association to apply for status as a qualified public depository ("QPD"). QPD status is required before a bank or savings association may accept any Florida public funds for deposit. A checklist is included so that interested parties can be certain they have reviewed all of the application materials.
The collateral transaction forms may be duplicated for future reporting needs. These deposit and withdrawal forms should be filed with your collateral custodian, with a copy provided to our office at the time a collateral pledge or release is requested. Please note that all collateral transactions require communication with this office or we will not be able to update our records concerning your collateral position.
While all of the application materials below should be reviewed prior to submitting an application, the following documents are required to be filed with our office as part of an application:
- The Contingent Liability Agreement ("CLA")
- The Collateral Control Agreement ("CCA")
- The Qualified Public Depository Resolutions form (a model form) or satisfactory copies of resolutions adopted by your board of directors that a) document that the CLA and CCA have been formally accepted and constitute official records of your company and b) that document those officers or directors that are authorized to attest to or execute forms as required by the law and administrative rules that govern Florida's public deposits program. Any copies of such resolutions must be certified as being in full force and effect by your company's corporate secretary.
- The Applicant Information form (a model form) or a letter to our office that provides all of the information requested on the model form including your company's legal name and other identifying information, the contact persons for your company, and replies to several questions that must be satisfied under Chapter 280, Florida Statutes, for status as a QPD.
- The Attestation Statement for Qualified Public Depositories
- Once the application materials noted above have been submitted and accepted as complete, an applicant would need to complete the Deposit of Collateral form for its initial collateral pledge and submit the form to its custodian with a copy filed with our office. Florida's public deposits program includes minimum required collateral ("MRC") of $100,000 even if a QPD holds no Florida public deposits. Once the custodian satisfactorily confirms the initial pledge of collateral, our office will approve the application.