Chapter 518 — Chapter 518
18 sections in this chapter.
Fla. Stat. § 518.01 Investments of funds received from United States Department of Veterans Affairs
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Subject to the conditions herein contained, and except as otherwise authorized by law, guardians holding funds received from, or currently in receipt of funds from, the United States Department of Veterans Affairs, to the extent of those funds alone, may invest such funds only in…
Fla. Stat. § 518.06 Investment of fiduciary funds in loans insured by Federal Housing Administrator
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Banks, savings banks, trust companies, building and loan associations, insurance companies, and guardians holding funds received from or currently in receipt of funds from the United States Department of Veterans Affairs to the extent of those funds alone, may:(1) Make such loans…
Fla. Stat. § 518.07 Investment of fiduciary funds in bonds, etc., issued by Federal Housing Administrator
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(1) Banks, savings banks, trust companies, building and loan associations, insurance companies, guardians holding funds received from or currently in receipt of funds from the United States Department of Veterans Affairs to the extent of those funds alone, the state and its polit…
Fla. Stat. § 518.08 Applicability of laws requiring security, etc
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No law of this state requiring security upon which loans or investments may be made, prescribing the nature, amount, or form of such security, prescribing or limiting interest rates upon loans or investments, limiting investments of capital or deposits, or prescribing or limiting…
Fla. Stat. § 518.09 Housing bonds legal investments and security
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The state and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, all insurance companies,…
Fla. Stat. § 518.10 Fiduciary defined as used in ss. 518.11-518.14
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For the purpose of ss. 518.11-518.14, a “fiduciary” is defined as an executor, administrator, trustee, guardian (except any guardian holding funds received from or currently in receipt of funds from the United States Department of Veterans Affairs, to the extent of those funds al…
Fla. Stat. § 518.11 Investments by fiduciaries; prudent investor rule
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(1) A fiduciary has a duty to invest and manage investment assets as follows:(a) The fiduciary has a duty to invest and manage investment assets as a prudent investor would considering the purposes, terms, distribution requirements, and other circumstances of the trust. This stan…
Fla. Stat. § 518.112 Delegation of investment functions
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(1) A fiduciary may delegate any part or all of the investment functions, with regard to acts constituting investment functions that a prudent investor of comparable skills might delegate under the circumstances, to an investment agent as provided in subsection (3), if the fiduci…
Fla. Stat. § 518.115 Power of fiduciary or custodian to deposit securities in a central depository
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(1)(a) Notwithstanding any other provision of law, any fiduciary, as defined in s. 518.10, holding securities, as defined in 1s. 678.102(1), in its fiduciary capacity, and any bank or trust company holding securities as a custodian, managing agent, or custodian for a fiduciary, i…
Fla. Stat. § 518.116 Power of certain fiduciaries and custodians to deposit United States Government and agency securities with a Federal Reserve bank
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(1)(a) Notwithstanding any other provision of law, any fiduciary, as defined in s. 518.10, which is a bank or trust company holding securities in its fiduciary capacity, and any bank or trust company holding securities as a custodian, managing agent, or custodian for a fiduciary,…
Fla. Stat. § 518.117 Permissible investments of fiduciary funds
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A fiduciary that is authorized by lawful authority to engage in trust business as defined in s. 658.12 may invest fiduciary funds in accordance with s. 660.417 so long as the investment otherwise complies with this chapter.
Fla. Stat. § 518.12 Instrument creating or defining powers, duties of fiduciary not affected
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Nothing contained in ss. 518.10-518.14 shall be construed as conferring a power of sale upon any fiduciary not possessing such power or as authorizing any departure from, or variation of, the express terms or limitations set forth in any will, agreement, court order, or other ins…
Fla. Stat. § 518.13 Authority of court to permit deviation from terms of instrument creating trust not affected
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Nothing contained in ss. 518.10-518.14 shall be construed as restricting the power of a court of proper jurisdiction to permit a fiduciary to deviate from the terms of any will, agreement, or other instrument relating to the acquisition, investment, reinvestment, exchange, retent…
Fla. Stat. § 518.14 Scope of ss. 518.10-518.13
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The provisions of ss. 518.10-518.13 shall govern fiduciaries acting under wills, agreements, court orders, and other instruments now existing or hereafter made.
Fla. Stat. § 518.15 Bonds or motor vehicle tax anticipation certificates, legal investments and security
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Notwithstanding any restrictions on investments contained in any law of this state, the state and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks, building and loan associations, savings an…
Fla. Stat. § 518.151 Higher education bonds or certificates, legal investments and security
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Notwithstanding any restrictions on investments contained in any law of this state, the state and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks, building and loan associations, savings an…
Fla. Stat. § 518.152 Puerto Rican bonds or obligations, legal investments and securities
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Notwithstanding any restrictions on investments contained in any law of this state, all public officers and public bodies of the state, counties, municipal corporations, and other political subdivisions; all banks, bankers, trust companies, savings banks, building and loan associ…
Fla. Stat. § 518.16 Chapter cumulative
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This chapter shall be cumulative to any other law providing for investments and security for public deposits.