Florida § 17.59 - Safekeeping services.
Full text of Florida Florida Statutes § 17.59 — Safekeeping services., with citation guidance and answers to common questions.
§ 17.59. Safekeeping services.
(1) The Chief Financial Officer shall administer a collateral management service for all state agencies as defined in s. 216.011, or any county, city, or political subdivision thereof, or other public authority that requires by statute, rule, or contract the deposit or pledge of collateral. (2) Eligible collateral listed in s. 17.57 may be deposited or pledged using the following collateral arrangements as approved by the Chief Financial Officer: (a) Collateral deposited and held by a custodian of the Chief Financial Officer. (b) Collateral pledged to the Chief Financial Officer. (c) Securities and articles of value deposited and held by the Chief Financial Officer. (d) Cash deposited in the Treasury Cash Deposit Trust Fund and the Public Deposit Security Trust Fund. (e) Cash deposited with the Chief Financial Officer as escrow agent. (3) The Chief Financial Officer may, in his or her discretion, establish a fee for processing, servicing, and safekeeping deposits and other documents or articles of value maintained by the Chief Financial Officer as requested by the various entities according to a service-level agreement or as provided for by law. Such fee shall be equivalent to the fee charged by financial institutions for processing, servicing, and safekeeping the same types of deposits and other documents or articles of value. (4) The Chief Financial Officer shall collect in advance, and persons so served shall pay to the Chief Financial Officer in advance, the miscellaneous charges as described in a service-level agreement. (5) All fees collected for the services described in this section shall be deposited in the Treasury Administrative and Investment Trust Fund.
Frequently Asked Questions About Florida § 17.59
What does Florida Statutes § 17.59 cover?
Section 17.59 ("Safekeeping services.") 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 § 17.59?
A common citation format is "Florida Statutes § 17.59" (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 § 17.59 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.