Senate Bill sb0776

    Florida Senate - 2001                                   SB 776

    By Senator Miller





    21-302-01

  1                      A bill to be entitled

  2         An act relating to unclaimed property; amending

  3         s. 717.124, F.S.; providing that a person

  4         claiming property in the possession of the

  5         Department of Banking and Finance is not

  6         required to identify the property; requiring

  7         personal identification; authorizing a

  8         voluntary finder's fee to be set by the

  9         department; providing an effective date.

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11  Be It Enacted by the Legislature of the State of Florida:

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13         Section 1.  Section 717.124, Florida Statutes, is

14  amended to read:

15         717.124  Filing of claim with department.--

16         (1)  Any person, excluding another state, claiming an

17  interest in any property paid or delivered to the department

18  under this chapter may file with the department a claim on a

19  form prescribed by the department and verified by the

20  claimant. Such person shall provide to the department proper

21  identification, but is not required to identify the property

22  that has been paid or delivered to the department. If the

23  department determines that it is holding property of that

24  claimant, it shall inform the claimant of the nature of that

25  property. The department shall determine each claim within 90

26  days after it is filed.  Such determination shall contain a

27  notice of rights provided by ss. 120.569 and 120.57.

28         (2)  A claim for a cashier's check or a stock

29  certificate without the original instrument may require an

30  indemnity bond equal to the value of the claim to be provided

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    Florida Senate - 2001                                   SB 776
    21-302-01




  1  prior to issue of the stock or payment of the claim by the

  2  department.

  3         (3)  The department may require an affidavit swearing

  4  to the authenticity of the claim, lack of documentation, and

  5  an agreement to allow the department to provide the name and

  6  address of the claimant to subsequent claimants coming forward

  7  with substantiated proof to claim the account.  This shall

  8  apply to claims equal to or less than $250.

  9         (4)  If a claim is determined in favor of the claimant,

10  the department shall deliver or pay over to the claimant the

11  property or the amount the department actually received or the

12  proceeds if it has been sold by the department, together with

13  any additional amount required by s. 717.121.

14         (5)(a)  If a claimant assigns his or her rights to

15  receive payment to an attorney or private investigative agency

16  which is duly licensed to do business in this state pursuant

17  to a written agreement with such claimant, the department is

18  authorized to make distribution of property or money in

19  accordance with such assignment.

20         (b)  Payments made to an attorney or private

21  investigative agency shall be promptly deposited into a trust

22  or escrow account which is regularly maintained by the

23  attorney or the private investigative agency in a financial

24  institution authorized to accept such deposits and located in

25  this state.

26         (c)  Distribution by the attorney or private

27  investigative agency to the claimant shall be made within 10

28  days following final credit of the deposit into the trust or

29  escrow account at the financial institution, unless a party to

30  the agreement protests in writing such distribution before it

31  is made.

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    Florida Senate - 2001                                   SB 776
    21-302-01




  1         (d)  The department shall not be civilly or criminally

  2  liable for any property or funds distributed pursuant to this

  3  subsection, provided such distribution is made in good faith.

  4         (6)  A voluntary finder's fee is authorized to be paid

  5  to an agent or agency that locates any person who may be

  6  entitled to property that has been paid or delivered to the

  7  department. The fee shall be set by the department.

  8         Section 2.  This act shall take effect July 1, 2001.

  9

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11                          SENATE SUMMARY

12    Provides that a person claiming unclaimed property in the
      possession of the Department of Banking and Finance must
13    provide proof of that person's identity, but is not
      required to identify the property that has been paid or
14    delivered to the department. Authorizes a voluntary
      finder's fee to be paid to an agent or agency that
15    locates a person who may be entitled to unclaimed
      property. The fee is to be set by the department.
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CODING: Words stricken are deletions; words underlined are additions.