HB 1527

CS

CHAMBER ACTION

1	The Economic Development, Trade & Banking Committee recommends
2	the following:
3
4	Council/Committee Substitute
5	Remove the entire bill and insert:
6	A bill to be entitled
7	An act relating to disposition of unclaimed property;
8	amending s. 717.106, F.S.; specifying communication by
9	documented telephone contact to avoid a presumption of
10	certain property being unclaimed; amending s. 717.117,
11	F.S.; revising requirements for notifying owners of
12	inactive accounts; amending s. 717.118, F.S.; increasing a
13	threshold amount for a requirement for an active attempt
14	to notify owners of unclaimed property; amending s.
15	717.119, F.S.; revising provisions for disposal of
16	proceeds of sales of unclaimed firearms or ammunition;
17	amending s. 717.122, F.S.; providing for sale of unclaimed
18	stock or certain equity interest under certain
19	circumstances; amending s. 717.124, F.S.; revising
20	requirements for making unclaimed property claims;
21	amending s. 717.12404, F.S.; revising requirements for
22	making claims on behalf of a business entity or trust;
23	creating s. 717.12406, F.S.; providing definitions;
24	amending s. 717.1241, F.S.; revising requirements and
25	procedures for resolving conflicting claims; amending s.
26	717.1242, F.S.; requiring the ordering of estate or heirs
27	to pay the Department of Financial Services certain costs
28	and fees; amending s. 717.1243, F.S.; revising
29	requirements and procedures for claims by beneficiaries of
30	deceased owners of unclaimed property; creating s.
31	717.1245, F.S.; requiring petitioners for writs of
32	garnishment to pay the department certain costs and fees
33	in certain actions; amending s. 717.1311, F.S.; deleting a
34	provision requiring certain record holders to pay certain
35	estimated amounts relating to insufficient records;
36	amending s. 717.1315, F.S.; revising requirements and
37	procedures for retention of records by an owner's
38	representative; amending s. 717.132, F.S.; providing for
39	imposition of fines by a court instead of the department;
40	amending s. 717.1322, F.S.; providing for civil
41	enforcement by the department of certain violations;
42	revising the department's authority to issue certain
43	registration revocation orders; creating s. 717.1323,
44	F.S.; providing requirements for requesting or printing
45	claim forms; specifying prohibited activities; amending s.
46	717.1331, F.S.; authorizing the department to enforce
47	subpoenas; amending s. 717.1333, F.S.; authorizing the
48	estimation of certain amounts due from insufficient
49	records; amending s. 717.135, F.S.; revising requirements
50	for powers of attorney to recover property; specifying
51	forms; specifying certain activities as not prohibited;
52	prohibiting certain modifications to a power of attorney;
53	amending s. 717.1351, F.S.; revising requirements for
54	contracts to acquire ownership of or entitlement to
55	property; specifying forms; specifying certain activities
56	as not prohibited; prohibiting certain modifications to an
57	agreement; creating s. 717.1381, F.S.; specifying certain
58	powers of attorney and agreements to be void as contrary
59	to public policy; prohibiting entering into such
60	agreements; providing application; amending s. 717.1400,
61	F.S.; revising registration requirements; providing an
62	effective date.
63
64	Be It Enacted by the Legislature of the State of Florida:
65
66	Section 1.  Paragraph (b) of subsection (1) of section
67	717.106, Florida Statutes, is amended to read:
68	717.106  Bank deposits and funds in financial
69	organizations.--
70	(1)  Any demand, savings, or matured time deposit with a
71	banking or financial organization, including deposits that are
72	automatically renewable, and any funds paid toward the purchase
73	of shares, a mutual investment certificate, or any other
74	interest in a banking or financial organization is presumed
75	unclaimed unless the owner has, within 5 years:
76	(b)  Communicated in writing or by documented telephone
77	contact with the banking or financial organization concerning
78	the property;
79	Section 2.  Subsections (3) and (4) of section 717.117,
80	Florida Statutes, are amended to read:
81	717.117  Report of unclaimed property.--
82	(3)  The report must be filed before May 1 of each year.
83	The Such report shall apply to the preceding calendar year. The
84	department may impose and collect a penalty of $10 per day up to
85	a maximum of $500 for the failure to timely report or the
86	failure to include in a report information required by this
87	chapter. The penalty shall be remitted to the department within
88	30 days after the date of the notification to the holder that
89	the penalty is due and owing. As necessary for proper
90	administration of this chapter, the department may waive any
91	penalty due with appropriate justification. On written request
92	by any person required to file a report and upon a showing of
93	good cause, the department may postpone the reporting date. The
94	department must provide information contained in a report filed
95	with the department to any person requesting a copy of the
96	report or information contained in a report, to the extent the
97	information requested is not confidential, within 45 90 days
98	after the report has been processed and added to the unclaimed
99	property database subsequent to a determination that the report
100	is accurate and that the reported property is the same as the
101	remitted property.
102	(4)  Holders of inactive accounts having a value of $50 or
103	more shall use due diligence to locate apparent owners. Not more
104	than 120 days and not less than 60 days prior to filing the
105	report required by this section, the holder in possession of
106	property presumed unclaimed and subject to custody as unclaimed
107	property under this chapter shall send written notice to the
108	apparent owner at the apparent owner's last known address
109	informing the apparent owner that the holder is in possession of
110	property subject to this chapter if the holder has in its
111	records an address for the apparent owner which the holder's
112	records do not disclose to be inaccurate.
113	(a)  When an owner's account becomes inactive, the holder
114	shall conduct at least one search for the apparent owner using
115	due diligence. For purposes of this section, an account is
116	inactive if 2 years have transpired after the last owner-
117	initiated account activity, if 2 years have transpired after the
118	expiration date on the instrument or contract, or if 2 years
119	have transpired since first-class mail has been returned as
120	undeliverable.
121	(b)  Within 180 days after an account becomes inactive, the
122	holder shall conduct a search to locate the apparent owner of
123	the property. The holder may satisfy such requirement by
124	conducting one annual search for the owners of all accounts
125	which have become inactive during the prior year.
126	(c)  Within 30 days after receiving updated address
127	information, the holder shall provide notice by telephone or
128	first-class mail to the current address notifying the apparent
129	owner that the holder is in possession of property which is
130	presumed unclaimed and may be remitted to the department. The
131	notice shall also provide the apparent owner with the address or
132	the telephone number of an office where the apparent owner may
133	claim the property or reestablish the inactive account.
134	(d)  The account shall be presumed unclaimed if the holder
135	is not able to contact the apparent owner by telephone, the
136	first-class mail notice is returned to the holder as
137	undeliverable, or the apparent owner does not contact the holder
138	in response to the first-class mail notice.
139	Section 3.  Subsection (1) of section 717.118, Florida
140	Statutes, is amended to read:
141	717.118  Notification of apparent owners of unclaimed
142	property.--
143	(1)  It is specifically recognized that the state has an
144	obligation to make an effort to notify owners of unclaimed
145	property in a cost-effective manner. In order to provide all the
146	citizens of this state an effective and efficient program for
147	the recovery of unclaimed property, the department shall use
148	cost-effective means to make at least one active attempt to
149	notify owners of unclaimed property accounts valued at more than
150	$250 $100 with a reported address or taxpayer identification
151	number. Such active attempt to notify apparent owners shall
152	include any attempt by the department to directly contact the
153	owner. Other means of notification, such as publication of the
154	names of owners in the newspaper, on television, on the
155	Internet, or through other promotional efforts and items in
156	which the department does not directly attempt to contact the
157	owner are expressly declared to be passive attempts. Nothing in
158	this subsection precludes other agencies or entities of state
159	government from notifying owners of the existence of unclaimed
160	property or attempting to notify apparent owners of unclaimed
161	property.
162	Section 4.  Paragraph (b) of subsection (5) of section
163	717.119, Florida Statutes, is amended to read:
164	717.119  Payment or delivery of unclaimed property.--
165	(5)  All intangible and tangible property held in a
166	safe-deposit box or any other safekeeping repository reported
167	under s. 717.117 shall not be delivered to the department until
168	120 days after the report due date. The delivery of the
169	property, through the United States mail or any other carrier,
170	shall be insured by the holder at an amount equal to the
171	estimated value of the property. Each package shall be clearly
172	marked on the outside "Deliver Unopened." A holder's safe-
173	deposit box contents shall be delivered to the department in a
174	single shipment. In lieu of a single shipment, holders may
175	provide the department with a single detailed shipping schedule
176	that includes package tracking information for all packages
177	being sent pursuant to this section.
178	(b)  Any firearm or ammunition found in an unclaimed safe-
179	deposit box or any other safekeeping repository shall be
180	delivered by the holder to a law enforcement agency for disposal
181	pursuant to s. 705.103(2)(b) with the balance of the proceeds
182	deposited into the State School Fund if the firearm is sold.
183	However, the department is authorized to make a reasonable
184	attempt to ascertain the historical value to collectors of any
185	firearm that has been delivered to the department. Any firearm
186	appearing to have historical value to collectors may be sold by
187	the department pursuant to s. 717.122 to a person having a
188	federal firearms license. Any firearm which is not sold pursuant
189	to s. 717.122 shall be delivered by the department to a law
190	enforcement agency in this state for disposal pursuant to s.
191	705.103(2)(b) with the balance of the proceeds deposited into
192	the State School Fund if the firearm is sold. The department
193	shall not be administratively, civilly, or criminally liable for
194	any firearm delivered by the department to a law enforcement
195	agency in this state for disposal.
196	Section 5.  Section 717.122, Florida Statutes, is amended
197	to read:
198	717.122  Public sale of unclaimed property.--
199	(1)  Except as provided in paragraph subsection (2)(a), the
200	department after the receipt of unclaimed property shall sell it
201	to the highest bidder at public sale on the Internet or at a
202	specified physical location wherever in the judgment of the
203	department the most favorable market for the property involved
204	exists. The department may decline the highest bid and reoffer
205	the property for sale if in the judgment of the department the
206	bid is insufficient. The department shall have the discretion to
207	withhold from sale any unclaimed property that the department
208	deems to be of benefit to the people of the state. If in the
209	judgment of the department the probable cost of sale exceeds the
210	value of the property, it need not be offered for sale and may
211	be disposed of as the department determines appropriate. Any
212	sale at a specified physical location held under this section
213	must be preceded by a single publication of notice, at least 3
214	weeks in advance of sale, in a newspaper of general circulation
215	in the county in which the property is to be sold. The
216	department shall proportionately deduct auction fees,
217	preparation costs, and expenses from the amount posted to the
218	owner's account when safe-deposit box contents are sold. No
219	action or proceeding may be maintained against the department
220	for or on account of any decision to decline the highest bid or
221	withhold any unclaimed property from sale.
222	(2)(a)  Securities listed on an established stock exchange
223	must be sold at prices prevailing at the time of sale on the
224	exchange. Other securities may be sold over the counter at
225	prices prevailing at the time of sale or by any other method the
226	department deems advisable. The department may authorize the
227	agent or broker acting on behalf of the department to deduct
228	fees from the proceeds of these sales at a rate agreed upon in
229	advance by the agent or broker and the department. The
230	department shall reimburse owners accounts for these brokerage
231	fees from the State School Fund unless the securities are sold
232	at the owner's request.
233	(b)(3)  Unless the department deems it to be in the public
234	interest to do otherwise, all securities presumed unclaimed and
235	delivered to the department may be sold upon receipt. Any person
236	making a claim pursuant to this chapter is entitled to receive
237	either the securities delivered to the department by the holder,
238	if they still remain in the hands of the department, or the
239	proceeds received from sale, but no person has any claim under
240	this chapter against the state, the holder, any transfer agent,
241	any registrar, or any other person acting for or on behalf of a
242	holder for any appreciation in the value of the property
243	occurring after delivery by the holder to the state.
244	(c)  Certificates for unclaimed stock or other equity
245	interest of business associations that cannot be canceled and
246	registered in the department's name or that cannot be readily
247	liquidated and converted into the currency of the United States
248	may be sold for the value of the certificate, if any, in
249	accordance with subsection (1) or may be destroyed in accordance
250	with s. 717.128.
251	(3)(4)  The purchaser of property at any sale conducted by
252	the department pursuant to this chapter is entitled to ownership
253	of the property purchased free from all claims of the owner or
254	previous holder thereof and of all persons claiming through or
255	under them. The department shall execute all documents necessary
256	to complete the transfer of ownership.
257	(4)(5)  The sale of unclaimed tangible personal property is
258	not subject to tax under chapter 212 when such property is sold
259	by or on behalf of the department pursuant to this section.
260	Section 6.  Subsections (1) and (4) of section 717.124,
261	Florida Statutes, are amended to read:
262	717.124  Unclaimed property claims.--
263	(1)  Any person, excluding another state, claiming an
264	interest in any property paid or delivered to the department
265	under this chapter may file with the department a claim on a
266	form prescribed by the department and verified by the claimant
267	or the claimant's representative. The claimant's representative
268	must be an attorney licensed to practice law in this state, a
269	licensed Florida-certified public accountant, or a private
270	investigator licensed under chapter 493. The claimant's
271	representative must be registered with the department under this
272	chapter. The claimant, or the claimant's representative, shall
273	provide the department with a legible copy of a valid driver's
274	license of the claimant at the time the original claim form is
275	filed. If the claimant has not been issued a valid driver's
276	license at the time the original claim form is filed, the
277	department shall be provided with a legible copy of a
278	photographic identification of the claimant issued by the United
279	States or a foreign nation, a state or territory of the United
280	States, or a foreign nation, or a political subdivision or
281	agency thereof or other evidence deemed acceptable by the
282	department by rule. In lieu of photographic identification, a
283	notarized sworn statement by the claimant may be provided which
284	affirms the claimant's identity and states the claimant's full
285	name and address. The claimant must produce to the notary
286	photographic identification of the claimant issued by the United
287	States, a state or territory of the United States, a foreign
288	nation, or a political subdivision or agency thereof or other
289	evidence deemed acceptable by the department by rule. The notary
290	shall indicate the notary's full address on the notarized sworn
291	statement. Any claim filed without the required identification
292	or the sworn statement with the original claim form and the
293	original power of attorney or purchase agreement, if applicable,
294	is void.
295	(a)  Within 90 days after receipt of a claim, the
296	department may return any claim that provides for the receipt of
297	fees and costs greater than that permitted under this chapter or
298	that contains any apparent errors or omissions. The department
299	may also request that the claimant or the claimant's
300	representative provide additional information. The department
301	shall retain a copy or electronic image of the claim.
302	(b)  A claimant or the claimant's representative shall be
303	deemed to have withdrawn a claim if no response to the
304	department's request for additional information is received by
305	the department within 60 days after the notification of any
306	apparent errors or omissions.
307	(c)  Within 90 days after receipt of the claim, or the
308	response of the claimant or the claimant's representative to the
309	department's request for additional information, whichever is
310	later, the department shall determine each claim. Such
311	determination shall contain a notice of rights provided by ss.
312	120.569 and 120.57. The 90-day period shall be extended by 60
313	days if the department has good cause to need additional time or
314	if the unclaimed property:
315	1.  Is owned by a person who has been a debtor in
316	bankruptcy;
317	2.  Was reported with an address outside of the United
318	States;
319	3.  Is being claimed by a person outside of the United
320	States; or
321	4.  Contains documents filed in support of the claim that
322	are not in the English language and have not been accompanied by
323	an English language translation.
324	(d)  The department shall deny any claim under which the
325	claimant's representative has refused to authorize the
326	department to reduce the fees and costs to the maximum permitted
327	under this chapter.
328	(4)(a)  Except as otherwise provided in this chapter, if a
329	claim is determined in favor of the claimant, the department
330	shall deliver or pay over to the claimant the property or the
331	amount the department actually received or the proceeds if it
332	has been sold by the department, together with any additional
333	amount required by s. 717.121.
334	(b)  If an owner authorizes an attorney licensed to
335	practice law in this state, Florida-certified public accountant,
336	or private investigator licensed under chapter 493, and
337	registered with the department under this chapter, to claim the
338	unclaimed property on the owner's behalf, the department is
339	authorized to make distribution of the property or money in
340	accordance with such power of attorney. The original power of
341	attorney must be executed by the owner and must be filed with
342	the department.
343	(c)1.  Payments of approved claims for unclaimed cash
344	accounts shall be made to the owner after deducting any fees and
345	costs authorized pursuant to a written power of attorney. The
346	contents of a safe-deposit box shall be delivered directly to
347	the claimant notwithstanding any power of attorney or agreement
348	to the contrary.
349	2.  Payments of fees and costs authorized pursuant to a
350	written power of attorney for approved claims shall be made or
351	issued to the law firm employer of the designated attorney
352	licensed to practice law in this state, the public accountancy
353	firm employer of the licensed Florida-certified public
354	accountant, or the designated employing private investigative
355	agency licensed by this state. Such payments shall be made by
356	electronic funds transfer and may be made on such periodic
357	schedule as the department may define by rule, provided the
358	payment intervals do not exceed 31 days. Payment made to an
359	attorney licensed in this state, a Florida-certified public
360	accountant, or a private investigator licensed under chapter
361	493, operating individually or as a sole practitioner, shall be
362	to the attorney, certified public accountant, or private
363	investigator.
364	Section 7.  Section 717.12404, Florida Statutes, is amended
365	to read:
366	717.12404  Claims on behalf of a business entity or
367	trust.--
368	(1)(a)  Claims on behalf of an active or dissolved
369	corporation, for which the last annual report is not available
370	from the Department of State through the Internet, must be
371	accompanied by a microfiche copy of the records on file with the
372	Department of State or, if the corporation has not made a
373	corporate filing with the Department of State, the claim must be
374	accompanied by a uniform resource locator for the address of a
375	free Internet site operated by the state of incorporation of the
376	corporation that provides access to the last corporate filing
377	identifying the officers and directors of the corporation. If
378	available, the claim must be accompanied by a printout of the
379	officers and directors from the Department of State Internet
380	site or the free Internet site operated by the state of
381	incorporation of the corporation. If the free Internet site is
382	not available, the claim must be accompanied by an authenticated
383	copy of the last corporate filing identifying the officers and
384	directors from the appropriate authorized official of the state
385	of incorporation.
386	(b)  A claim on behalf of a corporation must be made by an
387	officer or director identified on the last corporate filing.
388	(2)  Claims on behalf of a dissolved corporation, a
389	business entity other than an active corporation, or a trust
390	must include a legible copy of a valid driver's license of the
391	person acting on behalf of the dissolved corporation, business
392	entity other than an active corporation, or trust. If the person
393	has not been issued a valid driver's license, the department
394	shall be provided with a legible copy of a photographic
395	identification of the person issued by the United States, or a
396	foreign nation, or a political subdivision or agency thereof. In
397	lieu of photographic identification, a notarized sworn statement
398	by the person may be provided which affirms the person's
399	identity and states the person's full name and address. The
400	person must produce his or her photographic identification
401	issued by the United States, a state or territory of the United
402	States, a foreign nation, or a political subdivision or agency
403	thereof or other evidence deemed acceptable by the department by
404	rule. The notary shall indicate the notary's full address on the
405	notarized sworn statement. Any claim filed without the required
406	identification or the sworn statement with the original claim
407	form and the original power of attorney, if applicable, is void.
408	Section 8.  Section 717.12406, Florida Statutes, is created
409	to read:
410	717.12406  Joint ownership of unclaimed securities or
411	dividends.--For the purpose of determining joint ownership of
412	unclaimed securities or dividends, the term:
413	(1)  "TEN COM" means tenants in common.
414	(2)  "TEN ENT" means tenants by the entireties.
415	(3)  "JT TEN" or "JT" means joint tenants with the right of
416	survivorship and not as tenants in common.
417	(4)  "And" means tenants in common with each person
418	entitled to an equal pro rata share.
419	(5)  "Or" means that each person listed on the account is
420	entitled to all of the funds.
421	Section 9.  Section 717.1241, Florida Statutes, is amended
422	to read:
423	717.1241  Conflicting claims.--
424	(1)  When conflicting claims have been received by the
425	department for the same unclaimed property account or accounts,
426	the property shall be remitted in accordance with the claim
427	filed by the person as follows, notwithstanding the withdrawal
428	of a claim:
429	(a)  As between an owner and an owner's representative:
430	1.  To the person submitting the first claim received by
431	the Bureau of Unclaimed Property of the department that is
432	complete or made complete.; or
433	(b)2.  If a claimant's an owner's claim and a claimant's an
434	owner's representative's claim are received by the Bureau of
435	Unclaimed Property of the department on the same day and both
436	claims are complete, to the claimant. owner;
437	(c)  If a buyer's claim and a claimant's claim or a
438	claimant's representative's claim are received by the Bureau of
439	Unclaimed Property of the department on the same day and the
440	claims are complete, to the buyer.
441	(b)  As between two or more owner's representatives, to the
442	owner's representative who has submitted the first claim that is
443	complete or made complete; or
444	(d)(c)  As between two or more claimant's representative's
445	claims received by the Bureau of Unclaimed Property of the
446	department that are complete or made owner's representatives
447	whose claims were complete on the same day, to the claimant's
448	owner's representative who has agreed to receive the lowest fee.
449	If the two or more claimant's owner's representatives whose
450	claims received by the Bureau of Unclaimed Property of the
451	department were complete or made complete on the same day are
452	charging the same lowest fee, the fee fees shall be divided
453	equally between the claimant's owner's representatives.
454	(e)  If more than one buyer's claim received by the Bureau
455	of Unclaimed Property of the department is complete or made
456	complete on the same day, the department shall remit the
457	unclaimed property to the buyer who paid the highest amount to
458	the seller. If the buyers paid the same amount to the seller,
459	the department shall remit the unclaimed property to the buyers
460	divided in equal amounts.
461	(2)  The purpose of this section is solely to provide
462	guidance to the department regarding to whom it should remit the
463	unclaimed property and is not intended to extinguish or affect
464	any private cause of action that any person may have against
465	another person for breach of contract or other statutory or
466	common-law remedy. A buyer's sole remedy, if any, shall be
467	against the claimant's representative or the seller, or both. A
468	claimant's representative's sole remedy, if any, shall be
469	against the buyer or the seller, or both. A claimant's or
470	seller's sole remedy, if any, shall be against the buyer or the
471	claimant's representative, or both. Nothing in this section
472	forecloses the right of a person to challenge the department's
473	determination of completeness in a proceeding under ss. 120.569
474	and 120.57.
475	(3)  A claim is complete when entitlement to the unclaimed
476	property has been established.
477	Section 10.  Subsection (2) of section 717.1242, Florida
478	Statutes, is amended to read:
479	717.1242  Restatement of jurisdiction of the circuit court
480	sitting in probate and the department.--
481	(2)  If Should any estate or heir of an estate seeks seek
482	to obtain or obtains obtain an order from a circuit court
483	sitting in probate directing the department to pay or deliver to
484	any person property paid or delivered to the department under
485	this chapter, the estate or heir shall may be ordered to pay the
486	department reasonable costs and attorney's fees in any
487	proceeding brought by the department to oppose, appeal, or
488	collaterally attack the order if the department is the
489	prevailing party in any such proceeding.
490	Section 11.  Subsection (1) of section 717.1243, Florida
491	Statutes, is amended, and subsection (5) is added to said
492	section, to read:
493	717.1243  Small estate accounts.--
494	(1)  A claim for unclaimed property made by a beneficiary,
495	as defined in s. 731.201, of a deceased owner need not be
496	accompanied by an order of a probate court if the claimant files
497	with the department an affidavit, signed by all beneficiaries,
498	stating that all the beneficiaries have amicably agreed among
499	themselves upon a division of the estate and that all funeral
500	expenses, expenses of the last illness, and any other lawful
501	claims have been paid, and any additional information reasonably
502	necessary to make a determination of entitlement. If the owner
503	died testate, the claim shall be accompanied by a copy of the
504	will.
505	(5)  Nothing in this section shall be interpreted as
506	precluding the use of live testimony in order to establish
507	entitlement.
508	Section 12.  Section 717.1245, Florida Statutes, is created
509	to read:
510	717.1245  Garnishment of unclaimed property.--If any person
511	files a petition for writ of garnishment seeking to obtain
512	property paid or delivered to the department under this chapter,
513	the petitioner shall be ordered to pay the department reasonable
514	costs and attorney's fees in any proceeding brought by the
515	department to oppose, appeal, or collaterally attack the
516	petition or writ if the department is the prevailing party in
517	any such proceeding.
518	Section 13.  Subsection (3) of section 717.1311, Florida
519	Statutes, is amended to read:
520	717.1311  Retention of records.--
521	(3)  If a holder fails to maintain the records required by
522	this section and the records of the holder which are available
523	for the periods subject to this chapter are insufficient to
524	permit the preparation of a report, the holder shall be required
525	to report and pay such amounts as may reasonably be estimated
526	from any available records.
527	Section 14.  Section 717.1315, Florida Statutes, is amended
528	to read:
529	717.1315  Retention of records by claimant's
530	representatives and buyers of unclaimed property owner's
531	representative.--
532	(1)  Every claimant's owner's representative and buyer of
533	unclaimed property shall keep and use in his or her business
534	such books, accounts, and records of the business conducted
535	under this chapter to enable the department to determine whether
536	such person owner's representative is complying with this
537	chapter and the rules adopted by the department under this
538	chapter. Every claimant's owner's representative and buyer of
539	unclaimed property shall preserve such books, accounts, and
540	records, including every power of attorney or agreement between
541	the owner and such claimant's owner's representative or buyer,
542	for at least 3 years after the date of the initial power of
543	attorney or agreement.
544	(2)  A claimant's An owner's representative or buyer of
545	unclaimed property, operating at two or more places of business
546	in this state, may maintain the books, accounts, and records of
547	all such offices at any one of such offices, or at any other
548	office maintained by such claimant's owner's representative or
549	buyer of unclaimed property, upon the filing of a written notice
550	with the department designating in the written notice the office
551	at which such records are maintained.
552	(3)  A claimant's An owner's representative or buyer of
553	unclaimed property shall make all books, accounts, and records
554	available at a convenient location in this state upon request of
555	the department.
556	Section 15.  Subsection (3) of section 717.132, Florida
557	Statutes, is amended to read:
558	717.132  Enforcement; cease and desist orders;
559	administrative fines.--
560	(3)  In addition to any other powers conferred upon it to
561	enforce and administer the provisions of this chapter, the
562	department or a court of competent jurisdiction may impose fines
563	and collect an administrative fine against any person found to
564	have violated any provision of this chapter, any rule or order
565	promulgated under this chapter, or any written agreement entered
566	into with the department in an amount not to exceed $2,000 for
567	each violation. All fines collected under this subsection shall
568	be deposited as received in the Unclaimed Property Trust Fund.
569	Section 16.  Subsection (1), paragraph (a) of subsection
570	(2), and subsections (3) and (5) of section 717.1322, Florida
571	Statutes, are amended to read:
572	717.1322  Administrative and civil enforcement.--
573	(1)  The following acts are violations of this chapter and
574	constitute grounds for an administrative enforcement action by
575	the department in accordance with the requirements of chapter
576	120 and for civil enforcement by the department in a court of
577	competent jurisdiction:
578	(a)  Failure to comply with any provision of this chapter,
579	any rule or order adopted under this chapter, or any written
580	agreement entered into with the department.
581	(b)  Fraud, misrepresentation, deceit, or gross negligence
582	in any matter within the scope of this chapter.
583	(c)  Fraudulent misrepresentation, circumvention, or
584	concealment of any matter required to be stated or furnished to
585	an owner or apparent owner under this chapter, regardless of
586	reliance by or damage to the owner or apparent owner.
587	(d)  Willful imposition of illegal or excessive charges in
588	any unclaimed property transaction.
589	(e)  False, deceptive, or misleading solicitation or
590	advertising within the scope of this chapter.
591	(f)  Failure to maintain, preserve, and keep available for
592	examination all books, accounts, or other documents required by
593	this chapter, by any rule or order adopted under this chapter,
594	or by any agreement entered into with the department under this
595	chapter.
596	(g)  Refusal to permit inspection of books and records in
597	an investigation or examination by the department or refusal to
598	comply with a subpoena issued by the department under this
599	chapter.
600	(h)  Criminal conduct in the course of a person's business.
601	(i)  Failure to timely pay any fine imposed or assessed
602	under this chapter or any rule adopted under this chapter.
603	(j)  Requesting or receiving compensation for notifying a
604	person of his or her unclaimed property or assisting another
605	person in filing a claim for unclaimed property, unless the
606	person is an attorney licensed to practice law in this state, a
607	Florida-certified public accountant, or a private investigator
608	licensed under chapter 493, or entering into, or making a
609	solicitation to enter into, a power of attorney to file For
610	compensation or gain or in the expectation of compensation or
611	gain, the filing of a claim for unclaimed property owned by
612	another, or a contract or agreement to purchase unclaimed
613	property, unless such person is registered with the department
614	pursuant to this chapter and an a registered attorney licensed
615	to practice law in this state in the regular practice of her or
616	his profession, a Florida-certified registered public accountant
617	who is acting within the scope of the practice of public
618	accounting as defined in chapter 473 certified in this state, or
619	a registered private investigator licensed under chapter 493.
620	This subsection does not apply to a person who has been granted
621	a durable power of attorney to convey and receive all of the
622	real and personal property of the owner, is the court-appointed
623	guardian of the owner, has been employed as an attorney or
624	qualified representative to contest the department's denial of a
625	claim, has been employed as an attorney or qualified
626	representative to contest the department's denial of a claim, or
627	has been employed as an attorney to probate the estate of the
628	owner or an heir or legatee of the owner.
629	(k)  Failure to authorize the release of records in the
630	possession of a third party after being requested to do so by
631	the department regarding a pending examination or investigation.
632	(l)  Receipt or solicitation of consideration to be paid in
633	advance of the approval of a claim under this chapter.
634	(2)  Upon a finding by the department that any person has
635	committed any of the acts set forth in subsection (1), the
636	department may enter an order:
637	(a)  Revoking for a minimum of 5 years or suspending for a
638	maximum of 5 years a registration previously granted under this
639	chapter during which time the registrant may not reapply for a
640	registration under this chapter;
641	(3)  A registrant is subject to civil enforcement and the
642	disciplinary actions specified in subsection (2) for violations
643	of subsection (1) by an agent or employee of the registrant's
644	employer if the registrant knew or should have known that such
645	agent or employee was violating any provision of this chapter.
646	(5)  The department may seek any appropriate civil legal
647	remedy available to it by filing a civil action in a court of
648	competent jurisdiction against any person who has, directly or
649	through a claimant's an owner's representative, wrongfully
650	submitted a claim as the ultimate owner of property and
651	improperly received funds from the department in violation of
652	this chapter.
653	Section 17.  Section 717.1323, Florida Statutes, is created
654	to read:
655	717.1323  Prohibited practices; claim form requests through
656	the Internet or from the department; unregistered activities
657	pertaining to unclaimed property and property subject to a
658	running dormancy period; criminal penalties.--
659	(1)  No person shall request a claim form from the
660	department or print a claim form from the department's Internet
661	site unless such person:
662	(a)  Has a good faith belief that such person is, or
663	personally knows, the owner of the unclaimed property, an heir
664	or legatee of the owner, an officer or director of the corporate
665	owner, the trustee of the trust owner, or a former officer,
666	director, or shareholder of the dissolved corporate owner, or
667	has been appointed by a court of competent jurisdiction to
668	represent the owner of the unclaimed property; or
669	(b)  Is registered with the department as a claimant's
670	representative and has a power of attorney to represent a person
671	the registrant believes to be entitled to the unclaimed property
672	or has an agreement to purchase the unclaimed property from a
673	person the registrant believes to be entitled to the unclaimed
674	property.
675	(2)  A person may not, directly or indirectly:
676	(a)  Enter or offer to enter into a contract or agreement
677	to purchase unclaimed property that has not yet been reported to
678	the department but which is subject to a running dormancy
679	period; or
680	(b)  Receive a fee from an owner of unclaimed property for
681	locating, notifying, or recovering unclaimed property that has
682	not yet been reported to the department but is subject to a
683	running dormancy period unless there is a valid written
684	agreement between the holder and the owner of the property that
685	allows such charges to be imposed.
686	(3)  No person may knowingly enter false information onto
687	the Website of the Bureau of Unclaimed Property.
688	Section 18.  Section 717.1331, Florida Statutes, is amended
689	to read:
690	717.1331  Actions against holders.--The department may
691	initiate, or cause to be initiated, an action against a holder
692	to enforce a subpoena or recover unclaimed property. If the
693	department prevails in a civil or administrative action to
694	enforce a subpoena or recover unclaimed property initiated by or
695	on behalf of the department, the holder shall be ordered to pay
696	the department reasonable costs and attorney's fees.
697	Section 19.  Section 717.1333, Florida Statutes, is amended
698	to read:
699	717.1333  Evidence; estimations; audit reports, examiner's
700	worksheets, investigative reports, other related documents.--
701	(1)  In any proceeding involving a holder under ss. 120.569
702	and 120.57 in which an auditor, examiner, or investigator acting
703	under authority of this chapter is available for cross-
704	examination, any official written report, worksheet, or other
705	related paper, or copy thereof, compiled, prepared, drafted, or
706	otherwise made or received by the auditor, examiner, or
707	investigator, after being duly authenticated by the auditor,
708	examiner, or investigator, may be admitted as competent evidence
709	upon the oath of the auditor, examiner, or investigator that the
710	report, worksheet, or related paper was prepared or received as
711	a result of an audit, examination, or investigation of the books
712	and records of the person audited, examined, or investigated, or
713	the agent thereof.
714	(2)  If the records of the holder that are available for
715	the periods subject to this chapter are insufficient to permit
716	the preparation of a report of the unclaimed property due and
717	owing by a holder, the amount due may be reasonably estimated.
718	Section 20.  Section 717.135, Florida Statutes, is amended
719	to read:
720	717.135  Power of attorney Agreement to recover reported
721	property in the custody of the department.--
722	(1)  A power of attorney executed by a claimant to All
723	agreements between a claimant's representative and a claimant
724	for compensation to recover or assist in the recovery of
725	property reported to the department under s. 717.117 shall be in
726	10-point 11-point type or greater. and:
727	(2)  A power of attorney described in subsection (1) must:
728	(a)  Limit the fees and costs for services to 20 percent
729	per unclaimed property account held by the department. Fees and
730	costs for cash accounts shall be based on the value of the
731	property at the time the power of attorney agreement for
732	recovery is signed by the claimant. Fees and costs for accounts
733	containing securities or other intangible ownership interests,
734	which securities or interests are not converted to cash, shall
735	be based on the purchase price of the security as quoted on a
736	national exchange or other market on which the property is
737	regularly traded at the time the securities or other ownership
738	interest is remitted to the claimant or the claimant's
739	representative. Fees and costs for tangible property or safe-
740	deposit box accounts shall be based on the value of the tangible
741	property or contents of the safe-deposit box at the time the
742	ownership interest is transferred or remitted to the claimant.
743	Total fees and costs on any single account owned by a natural
744	person residing in this country must not exceed $1,000; or
745	(b)  Fully disclose, on such form as the department shall
746	prescribe by rule, that the property is held by the Bureau of
747	Unclaimed Property of the Department of Financial Services
748	pursuant to this chapter, the mailing address of the bureau, the
749	Internet address of the bureau, the person or name of the entity
750	that held the property prior to the property becoming unclaimed,
751	the date of the holder's last contact with the owner, if known,
752	and the approximate value of the property, and identify which of
753	the following categories of unclaimed property the claimant's
754	owner's representative is seeking to recover, as reported by the
755	holder:
756	1.  Cash accounts.
757	2.  Stale dated checks.
758	3.  Life insurance or annuity contract assets.
759	4.  Utility deposits.
760	5.  Securities or other interests in business associations.
761	6.  Wages.
762	7.  Accounts receivable.
763	8.  Contents of safe-deposit boxes.
764
765	This subsection Such disclosure shall be on a page signed and
766	dated by the person asserting entitlement to the unclaimed
767	property. However, paragraph (a) or paragraph (b) shall not
768	apply if probate proceedings must be initiated on behalf of the
769	claimant for an estate that has never been probated or if the
770	unclaimed property is being claimed by a person outside of the
771	United States.
772	(3)(a)  A power of attorney described in paragraph (2)(b)
773	must state in 12-point type or greater in the order indicated
774	with the blank spaces accurately completed:
775	FULL DISCLOSURE STATEMENT
776
777	The property is currently held by the State of Florida
778	Department of Financial Services, Bureau of Unclaimed
779	Property, pursuant to chapter 717, Florida Statutes. The
780	mailing address of the Bureau of Unclaimed Property
781	is_______________. The Internet address of the Bureau of
782	Unclaimed Property is_______________.
783	The property was Remitted by:______________.
784	Date of last contact:______________________.
785	Property category:_________________________.
786
787	(b)  Immediately above the signature line for the claimant,
788	a power of attorney described in paragraph (2)(b) must state in
789	12-point type or greater:
790
791	Claimant agrees, by signing below, that the FULL
792	DISCLOSURE STATEMENT has been read and fully understood.
793
794	(4)(2)(a)  Powers of attorney Agreements for recovery of
795	cash accounts shall state the value of the unclaimed property,
796	the unclaimed property account number, and the percentage value
797	of the unclaimed property account to be paid to the claimant and
798	shall also state the percentage value of compensation to be paid
799	to the claimant's representative, if applicable.
800	(b)  Powers of attorney Agreements for recovery of accounts
801	containing securities, safe-deposit box accounts, other
802	intangible or tangible ownership interests, or other types of
803	accounts, except cash accounts, shall state the unclaimed
804	property account number, the number of shares of stock, if
805	applicable, the approximate value of the unclaimed property, and
806	the percentage value of compensation to be paid to the
807	claimant's representative, if applicable.
808	(c)  All powers of attorney disclosures and agreements
809	shall include:
810	1.  The name, address, and professional license number of
811	the claimant's representative.
812	2.  The name, address, and telephone number of the
813	claimant's representative's firm or employer.
814	3.  The name, address, and telephone number of the
815	claimant.
816	4.  , and, If applicable available, the taxpayer
817	identification number or social security number, address, and
818	telephone number of the claimant.
819	5.  The name and address to whom the warrant is to be
820	issued, if different than the claimant's name and address.
821	(d)  The original of all such disclosures and powers of
822	attorney agreements to pay compensation shall be signed and
823	dated by the claimant of the property and shall be filed with
824	the claim form.
825	(e)(d)  All powers of attorney executed by a claimant to
826	agreements between a claimant's representative and a claimant,
827	who is a natural person, trust, or a dissolved corporation, for
828	compensation to recover or assist in the recovery of property
829	reported to the department under s. 717.117 must use the
830	following form on 8 and 1/2-inch by 11-inch paper or on 8 and
831	1/2-inch by 14-inch paper with all of the text on one side of
832	the paper and with the other side of the paper left blank;
833	except that, at the option of the owner representative, the
834	department disclosure form may be placed on the reverse side of
835	the agreement. The power of attorney agreement must be
836	accurately completed and executed. No other writing or
837	information shall be printed on the agreement. The title of the
838	power of attorney agreement shall be in bold 14-point type or
839	greater and underlined. Except as otherwise provided in this
840	section, the rest of the power of attorney agreement shall be in
841	10-point type or greater. All unclaimed property accounts
842	claimed must be identified on the power of attorney by account
843	number agreement. The power of attorney agreement must state in
844	bold 12-point type or greater at the top of the power of
845	attorney in the order indicated:
846
847	LIMITED POWER OF ATTORNEY RECOVERY AGREEMENT
848
849	$__________ = Approximate Dollar Value of the UNCLAIMED Property
850	__________  = Number of Shares of Stock to be Recovered (If
851	Applicable):__________
852	PROPERTY ACCOUNT NUMBERS:__________
853	__________ Percent to be Paid as Compensation to the Claimant's
854	Representative
855	$           = Amount to be Paid to Claimant's Representative
856	$__________ = Net Amount to be Paid to Claimant
857	Property Account Numbers:_________________
858	$__________ = AMOUNT TO BE PAID TO CLAIMANT'S REPRESENTATIVE
859
860	THIS AGREEMENT is between: _______________ (hereinafter,
861	CLAIMANT) and _______________ (hereinafter, CLAIMANT'S
862	REPRESENTATIVE) who agree to the following:
863
864	(1)  As consideration for the research efforts in locating
865	and identifying assets due to the CLAIMANT and for assistance in
866	procuring payment of the assets to the CLAIMANT, the CLAIMANT
867	authorizes the government to pay to the CLAIMANT'S
868	REPRESENTATIVE a fee of either:
869	(a)  __________ percent of all assets recovered, or
870	(b)  A flat fee of $ __________ to recover the unclaimed
871	property account identified above.
872
873	NO FEES ARE TO BE PAID IN ADVANCE.
874
875	(2)  I have read this agreement and in consideration
876	thereof, do hereby grant the CLAIMANT'S REPRESENTATIVE a limited
877	power of attorney to demand, collect, recover and receive the
878	above compensation from the government in accordance with this
879	agreement.
880	(3)  IT IS HEREBY ACKNOWLEDGED BY ALL PARTIES TO THIS
881	AGREEMENT THAT UNLESS THESE ASSETS ARE RECOVERED, NO FEES, NO
882	COSTS OR CHARGES ARE DUE TO THE CLAIMANT'S REPRESENTATIVE, ITS
883	AGENTS OR ATTORNEYS, AND THIS AGREEMENT WILL BECOME NULL AND
884	VOID.
885	Original Signature of CLAIMANT:
886	DATE:
887	CLAIMANT'S Social Security Number or FEID number:
888	Make the CLAIMANT'S check payable to:
889	Mail check to this address:
890	The CLAIMANT'S telephone number is:
891	Original Signature of CLAIMANT'S REPRESENTATIVE:
892	FEID Number of CLAIMANT'S REPRESENTATIVE:
893	DATE:
894	Address of CLAIMANT'S REPRESENTATIVE:
895	Telephone number of CLAIMANT'S REPRESENTATIVE:
896	Professional license number of CLAIMANT'S REPRESENTATIVE:
897	(f)(e)  All fees, whether expressed as a percentage or as a
898	flat fee, are subject to the limitations and requirements of
899	subsection (2)(1).
900	(g)(f)  This section does not prohibit the:
901	1.  Use of bolding, italics, print of different colors, and
902	text borders as a means of highlighting or stressing certain
903	selected items within the text.
904	2.  Placement of the name, address, and telephone number of
905	the representative's firm or company in the top margin above the
906	words "POWER OF ATTORNEY." No additional writing of any kind may
907	be placed in the top margin including, but not limited to,
908	logos, license numbers, Internet addresses, or slogans.
909	3.  Placement of the word "pending" prior to the words "NET
910	AMOUNT TO BE PAID TO CLAIMANT," if it is not yet possible to
911	determine the percentage interest of an heir or legatee prior to
912	a determination on the issue by the probate court.
913	4.  Deletion of the words "Number of Shares of Stock (If
914	Applicable)" if the agreement does not relate to the recovery of
915	securities.
916	5.  Deletion of the words "Percent to Be Paid as
917	Compensation to Claimant's Representative" if the power of
918	attorney provides for a flat fee to be paid as compensation to
919	the claimant's representative.
920	(5)(3)  As used in this section, "claimant" means the
921	person on whose behalf a claim is filed.
922	(6)(4)  This section does not supersede the licensing
923	requirements of chapter 493.
924	Section 21.  Section 717.1351, Florida Statutes, is amended
925	to read:
926	717.1351  Acquisition of unclaimed property.--
927	(1)  A person desiring to acquire ownership of or
928	entitlement to property reported to the department under s.
929	717.117 must be an attorney licensed to practice law in this
930	state, a licensed Florida-certified public accountant, a private
931	investigator licensed under chapter 493, or an employer of a
932	licensed private investigator which employer possesses a Class
933	"A" license under chapter 493 and must be registered with the
934	department under this chapter.
935	(2)  All contracts to acquire ownership of or entitlement
936	to unclaimed property from the person or persons entitled to the
937	unclaimed property must be in 10-point type or greater and must:
938	(a)  Have a purchase price that discounts the value of the
939	unclaimed property at the time the agreement is executed by the
940	seller at no greater than 20 percent per account held by the
941	department. An unclaimed property account must not be discounted
942	in excess of $1,000. However, the $1,000 discount limitation
943	does not apply if probate proceedings must be initiated on
944	behalf of the seller for an estate that has never been probated
945	or if the seller of the unclaimed property is not a natural
946	person or is a person outside the United States; or
947	(b)  Fully disclose, on such form as the department shall
948	prescribe by rule, that the property is held by the Bureau of
949	Unclaimed Property of the Department of Financial Services
950	pursuant to this chapter, the mailing address of the bureau, the
951	Internet address of the bureau, the person or name of the entity
952	that held the property prior to the property becoming unclaimed,
953	the date of the holder's last contact with the owner, if known,
954	and the approximate value of the property, and identify which of
955	the following categories of unclaimed property the buyer is
956	seeking to purchase as reported by the holder:
957	1.  Cash accounts.
958	2.  Stale dated checks.
959	3.  Life insurance or annuity contract assets.
960	4.  Utility deposits.
961	5.  Securities or other interests in business associations.
962	6.  Wages.
963	7.  Accounts receivable.
964	8.  Contents of safe-deposit boxes.
965
966	The purchase agreement described in this paragraph must state in
967	12-point type or greater in the order indicated with the blank
968	spaces accurately completed:
969
970	FULL DISCLOSURE STATEMENT
971
972	The property is currently held by the State of Florida
973	Department of Financial Services, Bureau of Unclaimed
974	Property, pursuant to chapter 717, Florida Statutes. The
975	mailing address of the Bureau of Unclaimed Property
976	is_______________. The Internet address of the Bureau of
977	Unclaimed Property is_______________.
978	The property was remitted by:______________.
979	Date of last contact:______________________.
980	Property category:_________________________.
981
982	Immediately above the signature line for the seller, the
983	purchase agreement described in this paragraph must state in 12-
984	point type or greater:
985
986	Seller agrees, by signing below, that the FULL DISCLOSURE
987	STATEMENT has been read and fully understood.
988
989	Such disclosure shall be on a page signed and dated by the
990	seller of the unclaimed property.
991	(3)  The originals of all such disclosures and agreements
992	to transfer ownership of or entitlement to unclaimed property
993	shall be signed and dated by the seller and shall be filed with
994	the claim form. The claimant shall provide the department with a
995	legible copy of a valid driver's license of the seller at the
996	time the original claim form is filed. If a seller has not been
997	issued a valid driver's license at the time the original claim
998	form is filed, the department shall be provided with a legible
999	copy of a photographic identification of the seller issued by
1000	the United States or a foreign nation, a state or territory of
1001	the United States or a foreign nation, or a political
1002	subdivision or agency thereof. In lieu of photographic
1003	identification, a notarized sworn statement by the seller may be
1004	provided which affirms the seller's identity and states the
1005	seller's full name and address. The seller must produce to the
1006	notary his or her photographic identification issued by the
1007	United States, a state or territory of the United States, a
1008	foreign nation, or a political subdivision or agency thereof.
1009	The notary shall indicate the notary's full address on the
1010	notarized sworn statement. If a claim is filed without the
1011	required identification or the sworn statement with the original
1012	claim form and the original agreement to acquire ownership of or
1013	entitlement to the unclaimed property, the claim is void.
1014	(4)  Any contract to acquire ownership of or entitlement to
1015	unclaimed property from the person or persons entitled to the
1016	unclaimed property must provide for the purchase price to be
1017	remitted to the seller or sellers within 10 days after the
1018	execution of the contract by the seller or sellers. The contract
1019	must specify the unclaimed property account number, the name of
1020	the holder who reported the property to the department, the
1021	category of unclaimed property, the value of the unclaimed
1022	property account, and the number of shares of stock, if
1023	applicable. Proof of payment by check must be filed with the
1024	department with the claim.
1025	(5)  All agreements to purchase unclaimed property from an
1026	owner, who is a natural person, a trust, or a dissolved
1027	corporation must use the following form on 8 and 1/2-inch by 11-
1028	inch paper or on 8 and 1/2-inch by 14-inch paper with all of the
1029	text on one side of the paper and with the other side of the
1030	paper left blank; except that, at the option of the owner
1031	representative, the department disclosure form may be placed on
1032	the reverse side of the agreement. The agreement must be
1033	accurately completed and executed. No other writing or
1034	information shall be printed on the agreement. The title of the
1035	agreement shall be in bold 14-point type or greater and
1036	underlined. Except as otherwise provided in this section, the
1037	rest of the agreement shall be in 10-point type or greater. All
1038	unclaimed property accounts to be purchased must be identified
1039	on the agreement by account number. The agreement must state, in
1040	bold 12-point type or greater at the top of the agreement in the
1041	order indicated:
1042
1043	PURCHASE AGREEMENT
1044
1045	$__________ = Approximate Dollar Value of the UNCLAIMED Property
1046	PROPERTY ACCOUNT NUMBER(S):
1047	__________  = Number of Shares of Stock TO BE RECOVERED (If
1048	Applicable):__________
1049	__________ =  Percent of UNCLAIMED Property to be Paid to the
1050	Buyer
1051	$           = Amount to be Paid to Buyer
1052	$__________ = Net Amount to be Paid to Seller OWNER
1053	Property Account Number(s):_____________________
1054	$__________ = AMOUNT TO BE PAID TO BUYER
1055
1056	THIS AGREEMENT is between: _______________ (hereinafter, OWNER)
1057	and _______________ (hereinafter, BUYER) who agree that the
1058	OWNER transfers to the BUYER for a purchase price of $__________
1059	all rights to the above identified unclaimed property accounts.
1060	Original Signature of OWNER:
1061	DATE:
1062	OWNER'S Social Security Number or FEID number:
1063	Within 10 days after the execution of this Purchase Agreement by
1064	the Owner, Buyer shall remit the OWNER'S check payable to:
1065
1066	Mail check to this address:
1067
1068
1069	The OWNER'S telephone number is:
1070	Original Signature of BUYER:
1071	FEID Number of BUYER: __________DATE: __________
1072	Address of BUYER:
1073
1074	Telephone number of BUYER:
1075	Professional license number of BUYER:
1076
1077	(6)  All agreements shall include:
1078	(a)  The name and professional license number of the
1079	registrant.
1080	(b)  The name, address, and telephone number of the
1081	registrant's firm or employer.
1082	(c)  The name, address, and telephone number of the seller.
1083	(d)  The taxpayer identification number or social security
1084	number of the seller, if available.
1085	(e)  The name and address to whom the warrant is to be
1086	issued if it is different from the seller's name and address.
1087	(f)  The original signature of the registrant and the date
1088	signed by the registrant.
1089	(7)  This section does not prohibit the:
1090	(a)  Use of bolding, italics, print of different colors, or
1091	text borders as a means of highlighting or stressing certain
1092	selected items within the text.
1093	(b)  Placement of the name, address, and telephone number
1094	of the registrant's firm or company in the top margin above the
1095	words "PURCHASE AGREEMENT." No additional writing of any kind
1096	may be placed in the top margin, including, but not limited to,
1097	logos, license numbers, Internet addresses, or slogans.
1098	(c)  Deletion of the words "Number of Shares of Stock (If
1099	Applicable)" if the agreement does not relate to the recovery of
1100	securities.
1101	(d)  Deletion of the words "Percent of Property to be Paid
1102	to Buyer," if the purchase agreement provides for a flat fee to
1103	be paid as compensation to the buyer.
1104	(8)  This section does not supersede the licensing
1105	requirements of chapter 493.
1106	Section 22.  Section 717.1381, Florida Statutes, is created
1107	to read:
1108	717.1381  Void unclaimed property powers of attorney and
1109	purchase agreements.--
1110	(1)  Protecting the interests of owners of unclaimed
1111	property is declared to be the public policy of this state. It
1112	is in the best interests of the owners of unclaimed property
1113	that they have the opportunity to receive the full amount of the
1114	unclaimed property returned to them without deduction of any
1115	fees. Further, it is specifically recognized that the
1116	Legislature has mandated and the state has an obligation to make
1117	a meaningful and active efforts to notify owners concerning
1118	their unclaimed property. The state recognizes that this policy
1119	and obligation cannot be fulfilled without providing the state
1120	with the first opportunity to notify the owners of unclaimed
1121	property that they may file a claim for their property with the
1122	department. In furtherance of this policy and obligation:
1123	(a)  Any oral or written agreement or power of attorney for
1124	compensation or gain or in the expectation of compensation or
1125	gain, that includes an unclaimed property account valued at more
1126	than $250 which was made on or before 45 days after the holder
1127	or examination report was processed and added to the unclaimed
1128	property data base, subsequent to a determination that the
1129	report was accurate and that the reported property was the same
1130	as the remitted property, is void as contrary to public policy.
1131	(b)  Any oral or written purchase agreement that include an
1132	unclaimed property account valued at more than $250, owned by
1133	another and made on or before 45 days after the holder or
1134	examination report was processed and added to the unclaimed
1135	property database, subsequent to a determination that the report
1136	was accurate and that the reported property was the same as the
1137	remitted property, is void as contrary to public policy.
1138	(2)  A person may not enter into a power of attorney or an
1139	agreement, or make a solicitation to enter into a power of
1140	attorney or an agreement, that is void under this section.
1141	Section 23.  Subsections (1), (2), (3), and (6) of section
1142	717.1400, Florida Statutes, are amended, and subsection (7) is
1143	added to said section, to read:
1144	717.1400  Registration.--
1145	(1)  In order to file claims as a claimant's
1146	representative, acquire ownership of or entitlement to unclaimed
1147	property, receive a distribution of fees and costs from the
1148	department, and obtain unclaimed property dollar amounts,
1149	numbers the number of reported shares of stock, and the last
1150	four digits of social security numbers held by the department, a
1151	private investigator holding a Class "C" individual license
1152	under chapter 493 must register with the department on such form
1153	as the department shall prescribe by rule, and must be verified
1154	by the applicant. To register with the department, a private
1155	investigator must provide:
1156	(a)  A legible copy of the applicant's Class "A" business
1157	license under chapter 493 or that of the applicant's firm or
1158	employer which holds a Class "A" business license under chapter
1159	493.
1160	(b)  A legible copy of the applicant's Class "C" individual
1161	license issued under chapter 493.
1162	(c)  The applicant's business address and telephone number
1163	of the applicant's private investigative firm or employer.
1164	(d)  The names of agents or employees, if any, who are
1165	designated to act on behalf of the private investigator,
1166	together with a legible copy of their photo identification
1167	issued by an agency of the United States, or a state, or a
1168	political subdivision thereof.
1169	(e)  Sufficient information to enable the department to
1170	disburse funds by electronic funds transfer.
1171	(f)  The tax identification number of the private
1172	investigator's firm or employer which holds a Class "A" business
1173	license under chapter 493.
1174	(2)  In order to file claims as a claimant's
1175	representative, acquire ownership of or entitlement to unclaimed
1176	property, receive a distribution of fees and costs from the
1177	department, and obtain unclaimed property dollar amounts,
1178	numbers the number of reported shares of stock, and the last
1179	four digits of social security numbers held by the department, a
1180	Florida-certified public accountant must register with the
1181	department on such form as the department shall prescribe by
1182	rule, and must be verified by the applicant. To register with
1183	the department a Florida-certified public accountant must
1184	provide:
1185	(a)  The applicant's Florida Board of Accountancy number.
1186	(b)  A legible copy of the applicant's current driver's
1187	license showing the full name and current address of such
1188	person. If a current driver's license is not available, another
1189	form of identification showing the full name and current address
1190	of such person or persons shall be filed with the department.
1191	(c)  The applicant's business address and telephone number
1192	of the applicant's public accounting firm or employer.
1193	(d)  The names of agents or employees, if any, who are
1194	designated to act on behalf of the Florida-certified public
1195	accountant, together with a legible copy of their photo
1196	identification issued by an agency of the United States, or a
1197	state, or a political subdivision thereof.
1198	(e)  Sufficient information to enable the department to
1199	disburse funds by electronic funds transfer.
1200	(f)  The tax identification number of the accountant's
1201	public accounting firm employer.
1202	(3)  In order to file claims as a claimant's
1203	representative, acquire ownership of or entitlement to unclaimed
1204	property, receive a distribution of fees and costs from the
1205	department, and obtain unclaimed property dollar amounts,
1206	numbers the number of reported shares of stock, and the last
1207	four digits of social security numbers held by the department,
1208	an attorney licensed to practice in this state must register
1209	with the department on such form as the department shall
1210	prescribe by rule, and must be verified by the applicant. To
1211	register with the department, such attorney must provide:
1212	(a)  The applicant's Florida Bar number.
1213	(b)  A legible copy of the applicant's current driver's
1214	license showing the full name and current address of such
1215	person. If a current driver's license is not available, another
1216	form of identification showing the full name and current address
1217	of such person or persons shall be filed with the department.
1218	(c)  The applicant's business address and telephone number
1219	of the applicants firm or employer.
1220	(d)  The names of agents or employees, if any, who are
1221	designated to act on behalf of the attorney, together with a
1222	legible copy of their photo identification issued by an agency
1223	of the United States, or a state, or a political subdivision
1224	thereof.
1225	(e)  Sufficient information to enable the department to
1226	disburse funds by electronic funds transfer.
1227	(f)  The tax identification number of the attorney's firm
1228	or lawyer's employer law firm.
1229	(6)  A registrant's firm or employer registrant or
1230	applicant for registration may not have a name that might lead
1231	another person to conclude that the registrant's firm or
1232	employer registrant is affiliated or associated with the United
1233	States, or an agency thereof, or a state or an agency or
1234	political subdivision of a state. The department shall deny an
1235	application for registration or revoke a registration if the
1236	applicant's or registrant's firm or employer applicant or
1237	registrant has a name that might lead another person to conclude
1238	that the firm or employer applicant or registrant is affiliated
1239	or associated with the United States, or an agency thereof, or a
1240	state or an agency or political subdivision of a state. Names
1241	that might lead another person to conclude that the firm or
1242	employer applicant or registrant is affiliated or associated
1243	with the United States, or an agency thereof, or a state or an
1244	agency or political subdivision of a state, include, but are not
1245	limited to, the words United States, Florida, state, bureau,
1246	division, department, or government.
1247	(7)  The licensing and other requirements of this section
1248	must be maintained as a condition of registration with the
1249	department.
1250	Section 24.  This act shall take effect upon becoming a
1251	law.

CODING: Words stricken are deletions; words underlined are additions.