Section 69C-2.006 - Administration of Collateral Requirements(1) Each qualified public depository must deposit with or pledge to the Chief Financial Officer eligible collateral equal to or in excess of its required collateral.(2) Prior to initiating a collateral transaction, the qualified public depository must ensure a current collateral arrangement agreement is on file with the Chief Financial Officer.(3) If using cash as collateral and the Chief Financial Officer as the custodian, the qualified public depository must complete and submit Form DFS-J1-1010, Proof of Authority, effective 09/24, incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-17022.(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 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 instructions, which may include an increase in the collateral-pledging level. The qualified public depository must comply with the Chief Financial Officer's special instructions.Fla. Admin. Code Ann. R. 69C-2.006
Rulemaking Authority 280.04, 280.041, 280.19 FS. Law Implemented 280.02, 280.04, 280.05, 280.16 FS.
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 by Florida Register Volume 50, Number 231, November 26, 2024 effective 12/9/2024.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.