Florida § 136.04 - Depositories to keep demand and time deposits separate; how interest on deposits credited.
Full text of Florida Florida Statutes § 136.04 — Depositories to keep demand and time deposits separate; how interest on deposits credited., with citation guidance and answers to common questions.
§ 136.04. Depositories to keep demand and time deposits separate; how interest on deposits credited.
Each bank acting as a depository shall keep all daily balance accounts which are subject to immediate checking, in an account or accounts separate from all savings or time deposit accounts. Funds in a saving or time deposit account shall not be subject to check without being transferred to the checking account by order of the board or officer having control of the same. Each board or officer at all times may transfer money from one of the classes or types of accounts to another. Interest shall be paid by depositories receiving savings or time deposit accounts at such rate or rates as may be agreed upon with respect to such savings or time deposit accounts by the depository and the board or officer having control of such account. All interest earned on any of such deposits shall be credited to the account and fund on which it was earned, and all interest shall be computed and credited quarterly.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 136.04
What does Florida Statutes § 136.04 cover?
Section 136.04 ("Depositories to keep demand and time deposits separate; how interest on deposits credited.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 136.04?
A common citation format is "Florida Statutes § 136.04" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 136.04 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.