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Florida Attorney General Reports

Decided November 18, 1975Published

1Opinion of the Court

QUESTION: Is a municipality authorized to deposit its own funds in out-of-state national or state banks?

SUMMARY: Section 659.24, F.S., does not authorize the Department of Banking and Finance to designate or regulate out-ofstate banks as depositories of public moneys. The jurisdictional power of the Department of Banking and Finance and of the Comptroller as head of the Department of Banking and Finance is coextensive with the territorial boundaries of the State of Florida and limited thereby. In your letter you have referred this office to ss. 659.24 and 658.02, F.S., and AGO 072-272. Said…

2Cases cited14 opinions

  1. Hilton v. GuyotSupreme Court of the United States · 1895
  2. Allgeyer v. LouisianaSupreme Court of the United States · 1897
  3. Pink v. A. A. A. Highway Express, Inc.Supreme Court of the United States · 1942
  4. New York Life Insurance v. HeadSupreme Court of the United States · 1914
  5. American Fire Insurance v. King Lumber & Manufacturing Co.Supreme Court of the United States · 1919

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