Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69C - Division of Treasury
Chapter 69C-2 - PROCEDURES FOR ADMINISTERING THE FLORIDA SECURITY FOR PUBLIC DEPOSITS ACT
Section 69C-2.029 - Authorized Agent

(1) The Qualified Public Depository or Operating Subsidiary, if one is used, is the owner of the collateral;

(2) The Qualified Public Depository, or Operating Subsidiary, if one is used, is the account name on the custodian records; or, if the collateral is in the Chief Financial Officer name, the sub-account name;

(3) The Qualified Public Depository, and the Operating Subsidiary, if one is used, have executed the Public Depository Pledge Agreement Form DI4-1001 in their names;

(4) Certified copies of the relevant portions of board minutes and resolution detailing the authorization from the boards of directors of the Qualified Public Depository, and the Operating Subsidiary, if one is used, and the authorized agent are provided to the Chief Financial Officer;

(5) The Qualified Public Depository shall remain fully responsible and accountable for the actions of the Authorized Agent and shall subject to administrative action, pursuant to chapter 280, F.S.;

(6) The election of an Authorized Agent in no way impairs the security interest of the Chief Financial Officer in the collateral;

(7) The Chief Financial Officer does not disapprove the election of an Authorized Agent; and,

(8) The Qualified Public Depository, the Operating Subsidiary, if one is used, and the agent provide proof of the agency relationship.