THE AIRPLANE HAD BEEN DEICED 2 TIMES BEFORE LEAVING THE GATE. HOWEVER, 35 MINUTES HAD ELAPSED BETWEEN THE 2ND DEICING & TAKEOFF DURING WHICH TIME ICE ACCUMULATED ON THE WING. THIS TIME PERIOD EXCEEDED THE TYPE I DEICING FLUID SAFE HOLDOVER TIME (11 MIN). THE 1ST OFFICER CALLED VR 11 KTS EARLY, AND THE CAPT ROTATED ABOUT 5 KTS EARLY. AFTER LIFTOFF THE AIRPLANE STALLED AND CAME TO REST PARTIALLY INVERTED AND SUBMERGED IN THE BAY. AT THE TIME OF THE ACCIDENT, THE OPERATOR DID NOT REQUIRE A SPECIFIC EXTERIOR INSPECTION FOR ICE CONTAMINATION OF F-28 AIRPLANES DURING PERIODS OF FREEZING PRECIPITATION. ACCIDENT HISTORY SHOWS THAT NONSLATTED, TURBOJET, TRANSPORT-CATEGORY AIRPLANES HAVE BEEN INVOLVED IN A DISPROPORTIONATE NUMBER OF TAKEOFF ACCIDENTS WHERE UNDETECTED UPPER WING ICE CONTAMINATION HAS BEEN CITED AS THE PROBABLE CAUSE OR SOLE CONTRIBUTING FACTOR.