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2024 Florida Statutes

Title XL REAL AND PERSONAL PROPERTY
Chapter 717 DISPOSITION OF UNCLAIMED PROPERTY Entire Chapter
SECTION 123
Deposit of funds.
F.S. 717.123
717.123 Deposit of funds.—
(1) All funds received under this chapter, including the proceeds from the sale of unclaimed property under s. 717.122, shall forthwith be deposited by the department in the Unclaimed Property Trust Fund. The department shall retain, from funds received under this chapter, an amount not exceeding $15 million from which the department shall make prompt payment of claims allowed by the department and shall pay the costs incurred by the department in administering and enforcing this chapter. All remaining funds received by the department under this chapter shall be deposited by the department into the State School Fund.
(2) The department shall record the name and last known address of each person appearing from the holder’s reports to be entitled to the unclaimed property in the total amounts of $5 or greater; the name and the last known address of each insured person or annuitant; and with respect to each policy or contract listed in the report of an insurance corporation, its number, the name of the corporation, and the amount due.
(3) Notwithstanding subsection (1), and for the 2022-2023 fiscal year, the department shall retain, from funds received under this chapter, an amount not exceeding $65 million from which the department shall make prompt payment of claims allowed by the department and shall pay the costs incurred by the department in administering and enforcing this chapter. This subsection expires July 1, 2024.
History.—s. 24, ch. 87-105; s. 13, ch. 96-301; s. 22, ch. 2001-36; s. 120, ch. 2004-390; s. 48, ch. 2023-240.