Senate Bill 1042e1
CODING: Words stricken are deletions; words underlined are additions.
SB 1042 First Engrossed
1 A bill to be entitled
2 An act relating to unclaimed funds held by a
3 guardian; amending s. 744.534, F.S.; increasing
4 the threshold value of such funds for which
5 publication of a notice of disposition is
6 required; providing for the disposition of
7 funds that escheat to the state; providing an
8 effective date.
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10 Be It Enacted by the Legislature of the State of Florida:
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12 Section 1. Section 744.534, Florida Statutes, is
13 amended to read:
14 744.534 Disposition of unclaimed funds held by
15 guardian.--
16 (1) In all cases in which it is appropriate for the
17 guardianship to terminate due to the ward's death and in which
18 property in the hands of the guardian cannot be distributed
19 because no estate proceeding has been instituted, the guardian
20 of the property shall be considered an interested person
21 pursuant to s. 733.202 and may, after a reasonable time,
22 institute such a proceeding. In the alternative, the guardian
23 may follow the procedures set forth in subsection (2).
24 (2)(a) In those cases in which it is appropriate for
25 the guardianship to terminate pursuant to s. 744.521 and in
26 which property in the hands of a guardian cannot be
27 distributed to the ward or the ward's estate solely because
28 the guardian is unable to locate the ward through diligent
29 search, the court shall order the guardian of the property to
30 sell the property of the ward and deposit the proceeds and
31 cash already on hand after retaining those amounts provided
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CODING: Words stricken are deletions; words underlined are additions.
SB 1042 First Engrossed
1 for in paragraph (e) with the clerk of the court exercising
2 jurisdiction over the guardianship and receive a receipt. The
3 clerk shall deposit the funds in the registry of the court, to
4 be disposed of as follows:
5 1. If the value of the funds is $500 $50 or less, the
6 clerk shall post a notice for 30 days at the courthouse door
7 giving the amount involved, the name of the ward, and other
8 pertinent information that will put interested persons on
9 notice.
10 2. If the value of the funds is over $500 $50, the
11 clerk shall publish the notice once a month for 2 consecutive
12 months in a newspaper of general circulation in the county.
13 3. After the expiration of 6 months from the posting
14 or first publication, the clerk shall deposit the funds with
15 the State Treasurer after deducting his or her fees and the
16 costs of publication.
17 (b) Upon receipt of the funds, the State Treasurer
18 shall deposit them to the credit of public guardianship. All
19 interest and all income that may accrue from the money while
20 so deposited shall belong to the fund. The funds so deposited
21 shall constitute and be a permanent appropriation for payments
22 by the State Treasurer in obedience to court orders entered as
23 provided by paragraph (c).
24 (c) Within 10 years from the date of deposit with the
25 State Treasurer, on written petition to the court that
26 directed the deposit of the funds and informal notice to the
27 Department of Legal Affairs, and after proof of his or her
28 right to them, any person entitled to the funds, before or
29 after payment to the State Treasurer and deposit as provided
30 for in paragraph (a), may obtain a court order directing the
31 payment of the funds to him or her. All funds deposited with
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CODING: Words stricken are deletions; words underlined are additions.
SB 1042 First Engrossed
1 the State Treasurer and not claimed within 10 years from the
2 date of deposit shall escheat to the state to be deposited in
3 the Department of Elderly Affairs Administrative Trust Fund
4 for the benefit of the Statewide Public Guardianship Office
5 public guardianship.
6 (d) Upon depositing the funds with the clerk, the
7 guardian of the property may proceed with the filing of his or
8 her final return and application for discharge under s.
9 744.527.
10 (e) The guardian depositing assets with the clerk is
11 permitted to retain from the funds in his or her possession a
12 sufficient amount to pay the final costs of administration,
13 including guardian and attorney's fees accruing between the
14 deposit of the funds with the clerk of the court and the order
15 of discharge. Any surplus funds so retained must be deposited
16 with the clerk prior to discharge of the guardian of the
17 property.
18 Section 2. This act shall take effect July 1, 2000.
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