HB 1527

CS

CHAMBER ACTION

1	The Commerce Council recommends the following:
2
3	Council/Committee Substitute
4	Remove the entire bill and insert:
5	A bill to be entitled
6	An act relating to disposition of unclaimed property;
7	amending s. 717.106, F.S.; specifying communication by
8	documented telephone contact to avoid a presumption of
9	certain property being unclaimed; amending s. 717.1101,
10	F.S.; decreasing a time period for a presumption of stock,
11	equity interest, and certain debt of a business
12	association being unclaimed; specifying criteria for
13	certain other property of a business association being
14	presumed unclaimed; amending s. 717.117, F.S.; revising
15	requirements for notifying owners of inactive accounts;
16	amending s. 717.118, F.S.; increasing a threshold amount
17	for a requirement for an active attempt to notify owners
18	of unclaimed property; amending s. 717.119, F.S.; revising
19	provisions for disposal of proceeds of sales of unclaimed
20	firearms or ammunition; amending s. 717.122, F.S.;
21	providing for sale of unclaimed stock or certain equity
22	interest under certain circumstances; amending s. 717.124,
23	F.S.; revising requirements for making unclaimed property
24	claims; amending s. 717.12404, F.S.; revising requirements
25	for making claims on behalf of a business entity or trust;
26	creating s. 717.12406, F.S.; providing definitions;
27	amending s. 717.1241, F.S.; revising requirements and
28	procedures for resolving conflicting claims; amending s.
29	717.1242, F.S.; requiring the ordering of estate or heirs
30	to pay the Department of Financial Services certain costs
31	and fees; amending s. 717.1243, F.S.; revising
32	requirements and procedures for claims by beneficiaries of
33	deceased owners of unclaimed property; creating s.
34	717.1245, F.S.; requiring petitioners for writs of
35	garnishment to pay the department certain costs and fees
36	in certain actions; amending s. 717.1311, F.S.; deleting a
37	provision requiring certain record holders to pay certain
38	estimated amounts relating to insufficient records;
39	amending s. 717.1315, F.S.; revising requirements and
40	procedures for retention of records by an owner's
41	representative; amending s. 717.132, F.S.; providing for
42	imposition of fines by a court instead of the department;
43	amending s. 717.1322, F.S.; providing for civil
44	enforcement by the department of certain violations;
45	revising the department's authority to issue certain
46	registration revocation orders; creating s. 717.1323,
47	F.S.; specifying a prohibited practice; amending s.
48	717.1331, F.S.; authorizing the department to enforce
49	subpoenas; amending s. 717.1333, F.S.; authorizing the
50	estimation of certain amounts due from insufficient
51	records; amending s. 717.135, F.S.; revising requirements
52	for powers of attorney to recover property; specifying
53	forms; specifying certain activities as not prohibited;
54	prohibiting certain modifications to a power of attorney;
55	amending s. 717.1351, F.S.; revising requirements for
56	contracts to acquire ownership of or entitlement to
57	property; specifying forms; specifying certain activities
58	as not prohibited; prohibiting certain modifications to an
59	agreement; providing rulemaking authority to the
60	department to specify what evidence may identify a seller;
61	creating s. 717.1381, F.S.; specifying certain powers of
62	attorney and agreements to be void as contrary to public
63	policy; prohibiting entering into such agreements;
64	providing application; amending s. 717.1400, F.S.;
65	revising registration requirements; providing an effective
66	date.
67
68	Be It Enacted by the Legislature of the State of Florida:
69
70	Section 1.  Paragraph (b) of subsection (1) of section
71	717.106, Florida Statutes, is amended to read:
72	717.106  Bank deposits and funds in financial
73	organizations.--
74	(1)  Any demand, savings, or matured time deposit with a
75	banking or financial organization, including deposits that are
76	automatically renewable, and any funds paid toward the purchase
77	of shares, a mutual investment certificate, or any other
78	interest in a banking or financial organization is presumed
79	unclaimed unless the owner has, within 5 years:
80	(b)  Communicated in writing or by documented telephone
81	contact with the banking or financial organization concerning
82	the property;
83	Section 2.  Paragraphs (a), (b), and (c) of subsection (1)
84	and subsection (2) of section 717.1101, Florida Statutes, are
85	amended, and subsection (4) is added to said section, to read:
86	717.1101  Unclaimed equity and debt of business
87	associations.--
88	(1)(a)  Stock or other equity interest in a business
89	association is presumed unclaimed 3 5 years after the earliest
90	of:
91	1.  The date of the most recent dividend, stock split, or
92	other distribution unclaimed by the apparent owner;
93	2.  The date of a statement of account or other
94	notification or communication that was returned as
95	undeliverable; or
96	3.  The date the holder discontinued mailings,
97	notifications, or communications to the apparent owner.
98	(b)  Unmatured or unredeemed debt, other than a bearer bond
99	or an original issue discount bond, is presumed unclaimed 3 5
100	years after the date of the most recent interest payment
101	unclaimed by the owner.
102	(c)  Matured or redeemed debt is presumed unclaimed 3 5
103	years after the date of maturity or redemption.
104	(2)  The running of such 3-year 5-year period ceases if the
105	person:
106	(a)1.  Communicates in writing with the association or its
107	agent regarding the interest or a dividend, distribution, or
108	other sum payable as a result of the interest; or
109	2.  Otherwise communicates with the association regarding
110	the interest or a dividend, distribution, or other sum payable
111	as a result of the interest, as evidenced by a memorandum or
112	other record on file with the association or its agent.
113	(b)  Presents an instrument issued to pay interest or a
114	dividend or other cash distribution. If any future dividend,
115	distribution, or other sum payable to the owner as a result of
116	the interest is subsequently not claimed by the owner, a new
117	period in which the property is presumed unclaimed commences and
118	relates back only to the time a subsequent dividend,
119	distribution, or other sum became due and payable.
120	(4)  Any dividend, profit, distribution, interest
121	redemption, payment on principal, or other sum held or owing by
122	a business association for or to a shareholder,
123	certificateholder, member, bondholder, or other security holder,
124	who has not claimed such amount or corresponded in writing with
125	the business association concerning such amount, within 3 years
126	after the date prescribed for payment or delivery, is presumed
127	unclaimed.
128	Section 3.  Subsections (3) and (4) of section 717.117,
129	Florida Statutes, are amended to read:
130	717.117  Report of unclaimed property.--
131	(3)  The report must be filed before May 1 of each year.
132	The Such report shall apply to the preceding calendar year. The
133	department may impose and collect a penalty of $10 per day up to
134	a maximum of $500 for the failure to timely report or the
135	failure to include in a report information required by this
136	chapter. The penalty shall be remitted to the department within
137	30 days after the date of the notification to the holder that
138	the penalty is due and owing. As necessary for proper
139	administration of this chapter, the department may waive any
140	penalty due with appropriate justification. On written request
141	by any person required to file a report and upon a showing of
142	good cause, the department may postpone the reporting date. The
143	department must provide information contained in a report filed
144	with the department to any person requesting a copy of the
145	report or information contained in a report, to the extent the
146	information requested is not confidential, within 45 90 days
147	after the report has been processed and added to the unclaimed
148	property database subsequent to a determination that the report
149	is accurate and that the reported property is the same as the
150	remitted property.
151	(4)  Holders of inactive accounts having a value of $50 or
152	more shall use due diligence to locate apparent owners. Not more
153	than 120 days and not less than 60 days prior to filing the
154	report required by this section, the holder in possession of
155	property presumed unclaimed and subject to custody as unclaimed
156	property under this chapter shall send written notice to the
157	apparent owner at the apparent owner's last known address
158	informing the apparent owner that the holder is in possession of
159	property subject to this chapter if the holder has in its
160	records an address for the apparent owner which the holder's
161	records do not disclose to be inaccurate.
162	(a)  When an owner's account becomes inactive, the holder
163	shall conduct at least one search for the apparent owner using
164	due diligence. For purposes of this section, an account is
165	inactive if 2 years have transpired after the last owner-
166	initiated account activity, if 2 years have transpired after the
167	expiration date on the instrument or contract, or if 2 years
168	have transpired since first-class mail has been returned as
169	undeliverable.
170	(b)  Within 180 days after an account becomes inactive, the
171	holder shall conduct a search to locate the apparent owner of
172	the property. The holder may satisfy such requirement by
173	conducting one annual search for the owners of all accounts
174	which have become inactive during the prior year.
175	(c)  Within 30 days after receiving updated address
176	information, the holder shall provide notice by telephone or
177	first-class mail to the current address notifying the apparent
178	owner that the holder is in possession of property which is
179	presumed unclaimed and may be remitted to the department. The
180	notice shall also provide the apparent owner with the address or
181	the telephone number of an office where the apparent owner may
182	claim the property or reestablish the inactive account.
183	(d)  The account shall be presumed unclaimed if the holder
184	is not able to contact the apparent owner by telephone, the
185	first-class mail notice is returned to the holder as
186	undeliverable, or the apparent owner does not contact the holder
187	in response to the first-class mail notice.
188	Section 4.  Subsection (1) of section 717.118, Florida
189	Statutes, is amended to read:
190	717.118  Notification of apparent owners of unclaimed
191	property.--
192	(1)  It is specifically recognized that the state has an
193	obligation to make an effort to notify owners of unclaimed
194	property in a cost-effective manner. In order to provide all the
195	citizens of this state an effective and efficient program for
196	the recovery of unclaimed property, the department shall use
197	cost-effective means to make at least one active attempt to
198	notify owners of unclaimed property accounts valued at more than
199	$250 $100 with a reported address or taxpayer identification
200	number. Such active attempt to notify apparent owners shall
201	include any attempt by the department to directly contact the
202	owner. Other means of notification, such as publication of the
203	names of owners in the newspaper, on television, on the
204	Internet, or through other promotional efforts and items in
205	which the department does not directly attempt to contact the
206	owner are expressly declared to be passive attempts. Nothing in
207	this subsection precludes other agencies or entities of state
208	government from notifying owners of the existence of unclaimed
209	property or attempting to notify apparent owners of unclaimed
210	property.
211	Section 5.  Paragraph (b) of subsection (5) of section
212	717.119, Florida Statutes, is amended to read:
213	717.119  Payment or delivery of unclaimed property.--
214	(5)  All intangible and tangible property held in a
215	safe-deposit box or any other safekeeping repository reported
216	under s. 717.117 shall not be delivered to the department until
217	120 days after the report due date. The delivery of the
218	property, through the United States mail or any other carrier,
219	shall be insured by the holder at an amount equal to the
220	estimated value of the property. Each package shall be clearly
221	marked on the outside "Deliver Unopened." A holder's safe-
222	deposit box contents shall be delivered to the department in a
223	single shipment. In lieu of a single shipment, holders may
224	provide the department with a single detailed shipping schedule
225	that includes package tracking information for all packages
226	being sent pursuant to this section.
227	(b)  Any firearm or ammunition found in an unclaimed safe-
228	deposit box or any other safekeeping repository shall be
229	delivered by the holder to a law enforcement agency for disposal
230	pursuant to s. 705.103(2)(b) with the balance of the proceeds
231	deposited into the State School Fund if the firearm is sold.
232	However, the department is authorized to make a reasonable
233	attempt to ascertain the historical value to collectors of any
234	firearm that has been delivered to the department. Any firearm
235	appearing to have historical value to collectors may be sold by
236	the department pursuant to s. 717.122 to a person having a
237	federal firearms license. Any firearm which is not sold pursuant
238	to s. 717.122 shall be delivered by the department to a law
239	enforcement agency in this state for disposal pursuant to s.
240	705.103(2)(b) with the balance of the proceeds deposited into
241	the State School Fund if the firearm is sold. The department
242	shall not be administratively, civilly, or criminally liable for
243	any firearm delivered by the department to a law enforcement
244	agency in this state for disposal.
245	Section 6.  Section 717.122, Florida Statutes, is amended
246	to read:
247	717.122  Public sale of unclaimed property.--
248	(1)  Except as provided in paragraph subsection (2)(a), the
249	department after the receipt of unclaimed property shall sell it
250	to the highest bidder at public sale on the Internet or at a
251	specified physical location wherever in the judgment of the
252	department the most favorable market for the property involved
253	exists. The department may decline the highest bid and reoffer
254	the property for sale if in the judgment of the department the
255	bid is insufficient. The department shall have the discretion to
256	withhold from sale any unclaimed property that the department
257	deems to be of benefit to the people of the state. If in the
258	judgment of the department the probable cost of sale exceeds the
259	value of the property, it need not be offered for sale and may
260	be disposed of as the department determines appropriate. Any
261	sale at a specified physical location held under this section
262	must be preceded by a single publication of notice, at least 3
263	weeks in advance of sale, in a newspaper of general circulation
264	in the county in which the property is to be sold. The
265	department shall proportionately deduct auction fees,
266	preparation costs, and expenses from the amount posted to the
267	owner's account when safe-deposit box contents are sold. No
268	action or proceeding may be maintained against the department
269	for or on account of any decision to decline the highest bid or
270	withhold any unclaimed property from sale.
271	(2)(a)  Securities listed on an established stock exchange
272	must be sold at prices prevailing at the time of sale on the
273	exchange. Other securities may be sold over the counter at
274	prices prevailing at the time of sale or by any other method the
275	department deems advisable. The department may authorize the
276	agent or broker acting on behalf of the department to deduct
277	fees from the proceeds of these sales at a rate agreed upon in
278	advance by the agent or broker and the department. The
279	department shall reimburse owners accounts for these brokerage
280	fees from the State School Fund unless the securities are sold
281	at the owner's request.
282	(b)(3)  Unless the department deems it to be in the public
283	interest to do otherwise, all securities presumed unclaimed and
284	delivered to the department may be sold upon receipt. Any person
285	making a claim pursuant to this chapter is entitled to receive
286	either the securities delivered to the department by the holder,
287	if they still remain in the hands of the department, or the
288	proceeds received from sale, but no person has any claim under
289	this chapter against the state, the holder, any transfer agent,
290	any registrar, or any other person acting for or on behalf of a
291	holder for any appreciation in the value of the property
292	occurring after delivery by the holder to the state.
293	(c)  Certificates for unclaimed stock or other equity
294	interest of business associations that cannot be canceled and
295	registered in the department's name or that cannot be readily
296	liquidated and converted into the currency of the United States
297	may be sold for the value of the certificate, if any, in
298	accordance with subsection (1) or may be destroyed in accordance
299	with s. 717.128.
300	(3)(4)  The purchaser of property at any sale conducted by
301	the department pursuant to this chapter is entitled to ownership
302	of the property purchased free from all claims of the owner or
303	previous holder thereof and of all persons claiming through or
304	under them. The department shall execute all documents necessary
305	to complete the transfer of ownership.
306	(4)(5)  The sale of unclaimed tangible personal property is
307	not subject to tax under chapter 212 when such property is sold
308	by or on behalf of the department pursuant to this section.
309	Section 7.  Subsections (1) and (4) of section 717.124,
310	Florida Statutes, are amended to read:
311	717.124  Unclaimed property claims.--
312	(1)  Any person, excluding another state, claiming an
313	interest in any property paid or delivered to the department
314	under this chapter may file with the department a claim on a
315	form prescribed by the department and verified by the claimant
316	or the claimant's representative. The claimant's representative
317	must be an attorney licensed to practice law in this state, a
318	licensed Florida-certified public accountant, or a private
319	investigator licensed under chapter 493. The claimant's
320	representative must be registered with the department under this
321	chapter. The claimant, or the claimant's representative, shall
322	provide the department with a legible copy of a valid driver's
323	license of the claimant at the time the original claim form is
324	filed. If the claimant has not been issued a valid driver's
325	license at the time the original claim form is filed, the
326	department shall be provided with a legible copy of a
327	photographic identification of the claimant issued by the United
328	States or a foreign nation, a state or territory of the United
329	States, or a foreign nation, or a political subdivision or
330	agency thereof or other evidence deemed acceptable by the
331	department by rule. In lieu of photographic identification, a
332	notarized sworn statement by the claimant may be provided which
333	affirms the claimant's identity and states the claimant's full
334	name and address. The claimant must produce to the notary
335	photographic identification of the claimant issued by the United
336	States, a state or territory of the United States, a foreign
337	nation, or a political subdivision or agency thereof or other
338	evidence deemed acceptable by the department by rule. The notary
339	shall indicate the notary's full address on the notarized sworn
340	statement. Any claim filed without the required identification
341	or the sworn statement with the original claim form and the
342	original power of attorney or purchase agreement, if applicable,
343	is void.
344	(a)  Within 90 days after receipt of a claim, the
345	department may return any claim that provides for the receipt of
346	fees and costs greater than that permitted under this chapter or
347	that contains any apparent errors or omissions. The department
348	may also request that the claimant or the claimant's
349	representative provide additional information. The department
350	shall retain a copy or electronic image of the claim.
351	(b)  A claimant or the claimant's representative shall be
352	deemed to have withdrawn a claim if no response to the
353	department's request for additional information is received by
354	the department within 60 days after the notification of any
355	apparent errors or omissions.
356	(c)  Within 90 days after receipt of the claim, or the
357	response of the claimant or the claimant's representative to the
358	department's request for additional information, whichever is
359	later, the department shall determine each claim. Such
360	determination shall contain a notice of rights provided by ss.
361	120.569 and 120.57. The 90-day period shall be extended by 60
362	days if the department has good cause to need additional time or
363	if the unclaimed property:
364	1.  Is owned by a person who has been a debtor in
365	bankruptcy;
366	2.  Was reported with an address outside of the United
367	States;
368	3.  Is being claimed by a person outside of the United
369	States; or
370	4.  Contains documents filed in support of the claim that
371	are not in the English language and have not been accompanied by
372	an English language translation.
373	(d)  The department shall deny any claim under which the
374	claimant's representative has refused to authorize the
375	department to reduce the fees and costs to the maximum permitted
376	under this chapter.
377	(4)(a)  Except as otherwise provided in this chapter, if a
378	claim is determined in favor of the claimant, the department
379	shall deliver or pay over to the claimant the property or the
380	amount the department actually received or the proceeds if it
381	has been sold by the department, together with any additional
382	amount required by s. 717.121.
383	(b)  If an owner authorizes an attorney licensed to
384	practice law in this state, Florida-certified public accountant,
385	or private investigator licensed under chapter 493, and
386	registered with the department under this chapter, to claim the
387	unclaimed property on the owner's behalf, the department is
388	authorized to make distribution of the property or money in
389	accordance with such power of attorney. The original power of
390	attorney must be executed by the owner and must be filed with
391	the department.
392	(c)1.  Payments of approved claims for unclaimed cash
393	accounts shall be made to the owner after deducting any fees and
394	costs authorized pursuant to a written power of attorney. The
395	contents of a safe-deposit box shall be delivered directly to
396	the claimant notwithstanding any power of attorney or agreement
397	to the contrary.
398	2.  Payments of fees and costs authorized pursuant to a
399	written power of attorney for approved claims shall be made or
400	issued to the law firm employer of the designated attorney
401	licensed to practice law in this state, the public accountancy
402	firm employer of the licensed Florida-certified public
403	accountant, or the designated employing private investigative
404	agency licensed by this state. Such payments shall be made by
405	electronic funds transfer and may be made on such periodic
406	schedule as the department may define by rule, provided the
407	payment intervals do not exceed 31 days. Payment made to an
408	attorney licensed in this state, a Florida-certified public
409	accountant, or a private investigator licensed under chapter
410	493, operating individually or as a sole practitioner, shall be
411	to the attorney, certified public accountant, or private
412	investigator.
413	Section 8.  Section 717.12404, Florida Statutes, is amended
414	to read:
415	717.12404  Claims on behalf of a business entity or
416	trust.--
417	(1)(a)  Claims on behalf of an active or dissolved
418	corporation, for which the last annual report is not available
419	from the Department of State through the Internet, must be
420	accompanied by a microfiche copy of the records on file with the
421	Department of State or, if the corporation has not made a
422	corporate filing with the Department of State, the claim must be
423	accompanied by a uniform resource locator for the address of a
424	free Internet site operated by the state of incorporation of the
425	corporation that provides access to the last corporate filing
426	identifying the officers and directors of the corporation. If
427	available, the claim must be accompanied by a printout of the
428	officers and directors from the Department of State Internet
429	site or the free Internet site operated by the state of
430	incorporation of the corporation. If the free Internet site is
431	not available, the claim must be accompanied by an authenticated
432	copy of the last corporate filing identifying the officers and
433	directors from the appropriate authorized official of the state
434	of incorporation.
435	(b)  A claim on behalf of a corporation must be made by an
436	officer or director identified on the last corporate filing.
437	(2)  Claims on behalf of a dissolved corporation, a
438	business entity other than an active corporation, or a trust
439	must include a legible copy of a valid driver's license of the
440	person acting on behalf of the dissolved corporation, business
441	entity other than an active corporation, or trust. If the person
442	has not been issued a valid driver's license, the department
443	shall be provided with a legible copy of a photographic
444	identification of the person issued by the United States, or a
445	foreign nation, or a political subdivision or agency thereof. In
446	lieu of photographic identification, a notarized sworn statement
447	by the person may be provided which affirms the person's
448	identity and states the person's full name and address. The
449	person must produce his or her photographic identification
450	issued by the United States, a state or territory of the United
451	States, a foreign nation, or a political subdivision or agency
452	thereof or other evidence deemed acceptable by the department by
453	rule. The notary shall indicate the notary's full address on the
454	notarized sworn statement. Any claim filed without the required
455	identification or the sworn statement with the original claim
456	form and the original power of attorney, if applicable, is void.
457	Section 9.  Section 717.12406, Florida Statutes, is created
458	to read:
459	717.12406  Joint ownership of unclaimed securities or
460	dividends.--For the purpose of determining joint ownership of
461	unclaimed securities or dividends, the term:
462	(1)  "TEN COM" means tenants in common.
463	(2)  "TEN ENT" means tenants by the entireties.
464	(3)  "JT TEN" or "JT" means joint tenants with the right of
465	survivorship and not as tenants in common.
466	(4)  "And" means tenants in common with each person
467	entitled to an equal pro rata share.
468	(5)  "Or" means that each person listed on the account is
469	entitled to all of the funds.
470	Section 10.  Section 717.1241, Florida Statutes, is amended
471	to read:
472	717.1241  Conflicting claims.--
473	(1)  When conflicting claims have been received by the
474	department for the same unclaimed property account or accounts,
475	the property shall be remitted in accordance with the claim
476	filed by the person as follows, notwithstanding the withdrawal
477	of a claim:
478	(a)  As between an owner and an owner's representative:
479	1.  To the person submitting the first claim received by
480	the Bureau of Unclaimed Property of the department that is
481	complete or made complete.; or
482	(b)2.  If a claimant's an owner's claim and a claimant's an
483	owner's representative's claim are received by the Bureau of
484	Unclaimed Property of the department on the same day and both
485	claims are complete, to the claimant. owner;
486	(c)  If a buyer's claim and a claimant's claim or a
487	claimant's representative's claim are received by the Bureau of
488	Unclaimed Property of the department on the same day and the
489	claims are complete, to the buyer.
490	(b)  As between two or more owner's representatives, to the
491	owner's representative who has submitted the first claim that is
492	complete or made complete; or
493	(d)(c)  As between two or more claimant's representative's
494	claims received by the Bureau of Unclaimed Property of the
495	department that are complete or made owner's representatives
496	whose claims were complete on the same day, to the claimant's
497	owner's representative who has agreed to receive the lowest fee.
498	If the two or more claimant's owner's representatives whose
499	claims received by the Bureau of Unclaimed Property of the
500	department were complete or made complete on the same day are
501	charging the same lowest fee, the fee fees shall be divided
502	equally between the claimant's owner's representatives.
503	(e)  If more than one buyer's claim received by the Bureau
504	of Unclaimed Property of the department is complete or made
505	complete on the same day, the department shall remit the
506	unclaimed property to the buyer who paid the highest amount to
507	the seller. If the buyers paid the same amount to the seller,
508	the department shall remit the unclaimed property to the buyers
509	divided in equal amounts.
510	(2)  The purpose of this section is solely to provide
511	guidance to the department regarding to whom it should remit the
512	unclaimed property and is not intended to extinguish or affect
513	any private cause of action that any person may have against
514	another person for breach of contract or other statutory or
515	common-law remedy. A buyer's sole remedy, if any, shall be
516	against the claimant's representative or the seller, or both. A
517	claimant's representative's sole remedy, if any, shall be
518	against the buyer or the seller, or both. A claimant's or
519	seller's sole remedy, if any, shall be against the buyer or the
520	claimant's representative, or both. Nothing in this section
521	forecloses the right of a person to challenge the department's
522	determination of completeness in a proceeding under ss. 120.569
523	and 120.57.
524	(3)  A claim is complete when entitlement to the unclaimed
525	property has been established.
526	Section 11.  Subsection (2) of section 717.1242, Florida
527	Statutes, is amended to read:
528	717.1242  Restatement of jurisdiction of the circuit court
529	sitting in probate and the department.--
530	(2)  If Should any estate or heir of an estate seeks seek
531	to obtain or obtains obtain an order from a circuit court
532	sitting in probate directing the department to pay or deliver to
533	any person property paid or delivered to the department under
534	this chapter, the estate or heir shall may be ordered to pay the
535	department reasonable costs and attorney's fees in any
536	proceeding brought by the department to oppose, appeal, or
537	collaterally attack the order if the department is the
538	prevailing party in any such proceeding.
539	Section 12.  Subsection (1) of section 717.1243, Florida
540	Statutes, is amended, and subsection (5) is added to said
541	section, to read:
542	717.1243  Small estate accounts.--
543	(1)  A claim for unclaimed property made by a beneficiary,
544	as defined in s. 731.201, of a deceased owner need not be
545	accompanied by an order of a probate court if the claimant files
546	with the department an affidavit, signed by all beneficiaries,
547	stating that all the beneficiaries have amicably agreed among
548	themselves upon a division of the estate and that all funeral
549	expenses, expenses of the last illness, and any other lawful
550	claims have been paid, and any additional information reasonably
551	necessary to make a determination of entitlement. If the owner
552	died testate, the claim shall be accompanied by a copy of the
553	will.
554	(5)  Nothing in this section shall be interpreted as
555	precluding the use of live testimony in order to establish
556	entitlement.
557	Section 13.  Section 717.1245, Florida Statutes, is created
558	to read:
559	717.1245  Garnishment of unclaimed property.--If any person
560	files a petition for writ of garnishment seeking to obtain
561	property paid or delivered to the department under this chapter,
562	the petitioner shall be ordered to pay the department reasonable
563	costs and attorney's fees in any proceeding brought by the
564	department to oppose, appeal, or collaterally attack the
565	petition or writ if the department is the prevailing party in
566	any such proceeding.
567	Section 14.  Subsection (3) of section 717.1311, Florida
568	Statutes, is amended to read:
569	717.1311  Retention of records.--
570	(3)  If a holder fails to maintain the records required by
571	this section and the records of the holder which are available
572	for the periods subject to this chapter are insufficient to
573	permit the preparation of a report, the holder shall be required
574	to report and pay such amounts as may reasonably be estimated
575	from any available records.
576	Section 15.  Section 717.1315, Florida Statutes, is amended
577	to read:
578	717.1315  Retention of records by claimant's
579	representatives and buyers of unclaimed property owner's
580	representative.--
581	(1)  Every claimant's owner's representative and buyer of
582	unclaimed property shall keep and use in his or her business
583	such books, accounts, and records of the business conducted
584	under this chapter to enable the department to determine whether
585	such person owner's representative is complying with this
586	chapter and the rules adopted by the department under this
587	chapter. Every claimant's owner's representative and buyer of
588	unclaimed property shall preserve such books, accounts, and
589	records, including every power of attorney or agreement between
590	the owner and such claimant's owner's representative or buyer,
591	for at least 3 years after the date of the initial power of
592	attorney or agreement.
593	(2)  A claimant's An owner's representative or buyer of
594	unclaimed property, operating at two or more places of business
595	in this state, may maintain the books, accounts, and records of
596	all such offices at any one of such offices, or at any other
597	office maintained by such claimant's owner's representative or
598	buyer of unclaimed property, upon the filing of a written notice
599	with the department designating in the written notice the office
600	at which such records are maintained.
601	(3)  A claimant's An owner's representative or buyer of
602	unclaimed property shall make all books, accounts, and records
603	available at a convenient location in this state upon request of
604	the department.
605	Section 16.  Subsection (3) of section 717.132, Florida
606	Statutes, is amended to read:
607	717.132  Enforcement; cease and desist orders;
608	administrative fines.--
609	(3)  In addition to any other powers conferred upon it to
610	enforce and administer the provisions of this chapter, the
611	department or a court of competent jurisdiction may impose fines
612	and collect an administrative fine against any person found to
613	have violated any provision of this chapter, any rule or order
614	promulgated under this chapter, or any written agreement entered
615	into with the department in an amount not to exceed $2,000 for
616	each violation. All fines collected under this subsection shall
617	be deposited as received in the Unclaimed Property Trust Fund.
618	Section 17.  Subsection (1), paragraph (a) of subsection
619	(2), and subsections (3) and (5) of section 717.1322, Florida
620	Statutes, are amended to read:
621	717.1322  Administrative and civil enforcement.--
622	(1)  The following acts are violations of this chapter and
623	constitute grounds for an administrative enforcement action by
624	the department in accordance with the requirements of chapter
625	120 and for civil enforcement by the department in a court of
626	competent jurisdiction:
627	(a)  Failure to comply with any provision of this chapter,
628	any rule or order adopted under this chapter, or any written
629	agreement entered into with the department.
630	(b)  Fraud, misrepresentation, deceit, or gross negligence
631	in any matter within the scope of this chapter.
632	(c)  Fraudulent misrepresentation, circumvention, or
633	concealment of any matter required to be stated or furnished to
634	an owner or apparent owner under this chapter, regardless of
635	reliance by or damage to the owner or apparent owner.
636	(d)  Willful imposition of illegal or excessive charges in
637	any unclaimed property transaction.
638	(e)  False, deceptive, or misleading solicitation or
639	advertising within the scope of this chapter.
640	(f)  Failure to maintain, preserve, and keep available for
641	examination all books, accounts, or other documents required by
642	this chapter, by any rule or order adopted under this chapter,
643	or by any agreement entered into with the department under this
644	chapter.
645	(g)  Refusal to permit inspection of books and records in
646	an investigation or examination by the department or refusal to
647	comply with a subpoena issued by the department under this
648	chapter.
649	(h)  Criminal conduct in the course of a person's business.
650	(i)  Failure to timely pay any fine imposed or assessed
651	under this chapter or any rule adopted under this chapter.
652	(j)  Requesting or receiving compensation for notifying a
653	person of his or her unclaimed property or assisting another
654	person in filing a claim for unclaimed property, unless the
655	person is an attorney licensed to practice law in this state, a
656	Florida-certified public accountant, or a private investigator
657	licensed under chapter 493, or entering into, or making a
658	solicitation to enter into, a power of attorney to file For
659	compensation or gain or in the expectation of compensation or
660	gain, the filing of a claim for unclaimed property owned by
661	another, or a contract or agreement to purchase unclaimed
662	property, unless such person is registered with the department
663	pursuant to this chapter and an a registered attorney licensed
664	to practice law in this state in the regular practice of her or
665	his profession, a Florida-certified registered public accountant
666	who is acting within the scope of the practice of public
667	accounting as defined in chapter 473 certified in this state, or
668	a registered private investigator licensed under chapter 493.
669	This subsection does not apply to a person who has been granted
670	a durable power of attorney to convey and receive all of the
671	real and personal property of the owner, is the court-appointed
672	guardian of the owner, has been employed as an attorney or
673	qualified representative to contest the department's denial of a
674	claim, has been employed as an attorney or qualified
675	representative to contest the department's denial of a claim, or
676	has been employed as an attorney to probate the estate of the
677	owner or an heir or legatee of the owner.
678	(k)  Failure to authorize the release of records in the
679	possession of a third party after being requested to do so by
680	the department regarding a pending examination or investigation.
681	(l)  Receipt or solicitation of consideration to be paid in
682	advance of the approval of a claim under this chapter.
683	(2)  Upon a finding by the department that any person has
684	committed any of the acts set forth in subsection (1), the
685	department may enter an order:
686	(a)  Revoking for a minimum of 5 years or suspending for a
687	maximum of 5 years a registration previously granted under this
688	chapter during which time the registrant may not reapply for a
689	registration under this chapter;
690	(3)  A registrant is subject to civil enforcement and the
691	disciplinary actions specified in subsection (2) for violations
692	of subsection (1) by an agent or employee of the registrant's
693	employer if the registrant knew or should have known that such
694	agent or employee was violating any provision of this chapter.
695	(5)  The department may seek any appropriate civil legal
696	remedy available to it by filing a civil action in a court of
697	competent jurisdiction against any person who has, directly or
698	through a claimant's an owner's representative, wrongfully
699	submitted a claim as the ultimate owner of property and
700	improperly received funds from the department in violation of
701	this chapter.
702	Section 18.  Section 717.1323, Florida Statutes, is created
703	to read:
704	717.1323  Prohibited practice.--No person may knowingly
705	enter false information onto the Internet website of the Bureau
706	of Unclaimed Property.
707	Section 19.  Section 717.1331, Florida Statutes, is amended
708	to read:
709	717.1331  Actions against holders.--The department may
710	initiate, or cause to be initiated, an action against a holder
711	to enforce a subpoena or recover unclaimed property. If the
712	department prevails in a civil or administrative action to
713	enforce a subpoena or recover unclaimed property initiated by or
714	on behalf of the department, the holder shall be ordered to pay
715	the department reasonable costs and attorney's fees.
716	Section 20.  Section 717.1333, Florida Statutes, is amended
717	to read:
718	717.1333  Evidence; estimations; audit reports, examiner's
719	worksheets, investigative reports, other related documents.--
720	(1)  In any proceeding involving a holder under ss. 120.569
721	and 120.57 in which an auditor, examiner, or investigator acting
722	under authority of this chapter is available for cross-
723	examination, any official written report, worksheet, or other
724	related paper, or copy thereof, compiled, prepared, drafted, or
725	otherwise made or received by the auditor, examiner, or
726	investigator, after being duly authenticated by the auditor,
727	examiner, or investigator, may be admitted as competent evidence
728	upon the oath of the auditor, examiner, or investigator that the
729	report, worksheet, or related paper was prepared or received as
730	a result of an audit, examination, or investigation of the books
731	and records of the person audited, examined, or investigated, or
732	the agent thereof.
733	(2)  If the records of the holder that are available for
734	the periods subject to this chapter are insufficient to permit
735	the preparation of a report of the unclaimed property due and
736	owing by a holder, the amount due may be reasonably estimated.
737	Section 21.  Section 717.135, Florida Statutes, is amended
738	to read:
739	717.135  Power of attorney Agreement to recover reported
740	property in the custody of the department.--
741	(1)  A power of attorney executed by a claimant to All
742	agreements between a claimant's representative and a claimant
743	for compensation to recover or assist in the recovery of
744	property reported to the department under s. 717.117 shall be in
745	10-point 11-point type or greater. and:
746	(2)  A power of attorney described in subsection (1) must:
747	(a)  Limit the fees and costs for services to 20 percent
748	per unclaimed property account held by the department. Fees and
749	costs for cash accounts shall be based on the value of the
750	property at the time the power of attorney agreement for
751	recovery is signed by the claimant. Fees and costs for accounts
752	containing securities or other intangible ownership interests,
753	which securities or interests are not converted to cash, shall
754	be based on the purchase price of the security as quoted on a
755	national exchange or other market on which the property is
756	regularly traded at the time the securities or other ownership
757	interest is remitted to the claimant or the claimant's
758	representative. Fees and costs for tangible property or safe-
759	deposit box accounts shall be based on the value of the tangible
760	property or contents of the safe-deposit box at the time the
761	ownership interest is transferred or remitted to the claimant.
762	Total fees and costs on any single account owned by a natural
763	person residing in this country must not exceed $1,000; or
764	(b)  Fully disclose, on such form as the department shall
765	prescribe by rule, that the property is held by the Bureau of
766	Unclaimed Property of the Department of Financial Services
767	pursuant to this chapter, the mailing address of the bureau, the
768	Internet address of the bureau, the person or name of the entity
769	that held the property prior to the property becoming unclaimed,
770	the date of the holder's last contact with the owner, if known,
771	and the approximate value of the property, and identify which of
772	the following categories of unclaimed property the claimant's
773	owner's representative is seeking to recover, as reported by the
774	holder:
775	1.  Cash accounts.
776	2.  Stale dated checks.
777	3.  Life insurance or annuity contract assets.
778	4.  Utility deposits.
779	5.  Securities or other interests in business associations.
780	6.  Wages.
781	7.  Accounts receivable.
782	8.  Contents of safe-deposit boxes.
783
784	This subsection Such disclosure shall be on a page signed and
785	dated by the person asserting entitlement to the unclaimed
786	property. However, paragraph (a) or paragraph (b) shall not
787	apply if probate proceedings must be initiated on behalf of the
788	claimant for an estate that has never been probated or if the
789	unclaimed property is being claimed by a person outside of the
790	United States.
791	(3)(a)  A power of attorney described in paragraph (2)(b)
792	must state in 12-point type or greater in the order indicated
793	with the blank spaces accurately completed:
794	FULL DISCLOSURE STATEMENT
795
796	The property is currently held by the State of Florida
797	Department of Financial Services, Bureau of Unclaimed
798	Property, pursuant to chapter 717, Florida Statutes. The
799	mailing address of the Bureau of Unclaimed Property
800	is_______________. The Internet address of the Bureau of
801	Unclaimed Property is_______________.
802	The property was Remitted by:______________.
803	Date of last contact:______________________.
804	Property category:_________________________.
805
806	(b)  Immediately above the signature line for the claimant,
807	a power of attorney described in paragraph (2)(b) must state in
808	12-point type or greater:
809
810	Claimant agrees, by signing below, that the FULL
811	DISCLOSURE STATEMENT has been read and fully understood.
812
813	(4)(2)(a)  Powers of attorney Agreements for recovery of
814	cash accounts shall state the value of the unclaimed property,
815	the unclaimed property account number, and the percentage value
816	of the unclaimed property account to be paid to the claimant and
817	shall also state the percentage value of compensation to be paid
818	to the claimant's representative, if applicable.
819	(b)  Powers of attorney Agreements for recovery of accounts
820	containing securities, safe-deposit box accounts, other
821	intangible or tangible ownership interests, or other types of
822	accounts, except cash accounts, shall state the unclaimed
823	property account number, the number of shares of stock, if
824	applicable, the approximate value of the unclaimed property, and
825	the percentage value of compensation to be paid to the
826	claimant's representative, if applicable.
827	(c)  All powers of attorney disclosures and agreements
828	shall include:
829	1.  The name, address, and professional license number of
830	the claimant's representative.
831	2.  The name, address, and telephone number of the
832	claimant's representative's firm or employer.
833	3.  The name, address, and telephone number of the
834	claimant.
835	4.  , and, If applicable available, the taxpayer
836	identification number or social security number, address, and
837	telephone number of the claimant.
838	5.  The name and address to whom the warrant is to be
839	issued, if different than the claimant's name and address.
840	(d)  The original of all such disclosures and powers of
841	attorney agreements to pay compensation shall be signed and
842	dated by the claimant of the property and shall be filed with
843	the claim form.
844	(e)(d)  All powers of attorney executed by a claimant to
845	agreements between a claimant's representative and a claimant,
846	who is a natural person, trust, or a dissolved corporation, for
847	compensation to recover or assist in the recovery of property
848	reported to the department under s. 717.117 must use the
849	following form on 8 and 1/2-inch by 11-inch paper or on 8 and
850	1/2-inch by 14-inch paper with all of the text on one side of
851	the paper and with the other side of the paper left blank;
852	except that, at the option of the owner representative, the
853	department disclosure form may be placed on the reverse side of
854	the agreement. The power of attorney agreement must be
855	accurately completed and executed. No other writing or
856	information shall be printed on the agreement. The title of the
857	power of attorney agreement shall be in bold 14-point type or
858	greater and underlined. Except as otherwise provided in this
859	section, the rest of the power of attorney agreement shall be in
860	10-point type or greater. All unclaimed property accounts
861	claimed must be identified on the power of attorney by account
862	number agreement. The power of attorney agreement must state in
863	bold 12-point type or greater at the top of the power of
864	attorney in the order indicated:
865
866	LIMITED POWER OF ATTORNEY RECOVERY AGREEMENT
867
868	$__________ = Approximate Dollar Value of the UNCLAIMED Property
869	__________  = Number of Shares of Stock to be Recovered (If
870	Applicable):__________
871	PROPERTY ACCOUNT NUMBERS:__________
872	__________ Percent to be Paid as Compensation to the Claimant's
873	Representative
874	$           = Amount to be Paid to Claimant's Representative
875	$__________ = Net Amount to be Paid to Claimant
876	Property Account Numbers:_________________
877	$__________ = AMOUNT TO BE PAID TO CLAIMANT'S REPRESENTATIVE
878
879	THIS AGREEMENT is between: _______________ (hereinafter,
880	CLAIMANT) and _______________ (hereinafter, CLAIMANT'S
881	REPRESENTATIVE) who agree to the following:
882
883	(1)  As consideration for the research efforts in locating
884	and identifying assets due to the CLAIMANT and for assistance in
885	procuring payment of the assets to the CLAIMANT, the CLAIMANT
886	authorizes the government to pay to the CLAIMANT'S
887	REPRESENTATIVE a fee of either:
888	(a)  __________ percent of all assets recovered, or
889	(b)  A flat fee of $ __________ to recover the unclaimed
890	property account identified above.
891
892	NO FEES ARE TO BE PAID IN ADVANCE.
893
894	(2)  I have read this agreement and in consideration
895	thereof, do hereby grant the CLAIMANT'S REPRESENTATIVE a limited
896	power of attorney to demand, collect, recover and receive the
897	above compensation from the government in accordance with this
898	agreement.
899	(3)  IT IS HEREBY ACKNOWLEDGED BY ALL PARTIES TO THIS
900	AGREEMENT THAT UNLESS THESE ASSETS ARE RECOVERED, NO FEES, NO
901	COSTS OR CHARGES ARE DUE TO THE CLAIMANT'S REPRESENTATIVE, ITS
902	AGENTS OR ATTORNEYS, AND THIS AGREEMENT WILL BECOME NULL AND
903	VOID.
904	Original Signature of CLAIMANT:
905	DATE:
906	CLAIMANT'S Social Security Number or FEID number:
907	Make the CLAIMANT'S check payable to:
908	Mail check to this address:
909	The CLAIMANT'S telephone number is:
910	Original Signature of CLAIMANT'S REPRESENTATIVE:
911	FEID Number of CLAIMANT'S REPRESENTATIVE:
912	DATE:
913	Address of CLAIMANT'S REPRESENTATIVE:
914	Telephone number of CLAIMANT'S REPRESENTATIVE:
915	Professional license number of CLAIMANT'S REPRESENTATIVE:
916	(f)(e)  All fees, whether expressed as a percentage or as a
917	flat fee, are subject to the limitations and requirements of
918	subsection (2)(1).
919	(g)(f)  This section does not prohibit the:
920	1.  Use of bolding, italics, print of different colors, and
921	text borders as a means of highlighting or stressing certain
922	selected items within the text.
923	2.  Placement of the name, address, and telephone number of
924	the representative's firm or company in the top margin above the
925	words "POWER OF ATTORNEY." No additional writing of any kind may
926	be placed in the top margin including, but not limited to,
927	logos, license numbers, Internet addresses, or slogans.
928	3.  Placement of the word "pending" prior to the words "NET
929	AMOUNT TO BE PAID TO CLAIMANT," if it is not yet possible to
930	determine the percentage interest of an heir or legatee prior to
931	a determination on the issue by the probate court.
932	4.  Deletion of the words "Number of Shares of Stock (If
933	Applicable)" if the agreement does not relate to the recovery of
934	securities.
935	5.  Deletion of the words "Percent to Be Paid as
936	Compensation to Claimant's Representative" if the power of
937	attorney provides for a flat fee to be paid as compensation to
938	the claimant's representative.
939	(5)(3)  As used in this section, "claimant" means the
940	person on whose behalf a claim is filed.
941	(6)(4)  This section does not supersede the licensing
942	requirements of chapter 493.
943	Section 22.  Section 717.1351, Florida Statutes, is amended
944	to read:
945	717.1351  Acquisition of unclaimed property.--
946	(1)  A person desiring to acquire ownership of or
947	entitlement to property reported to the department under s.
948	717.117 must be an attorney licensed to practice law in this
949	state, a licensed Florida-certified public accountant, a private
950	investigator licensed under chapter 493, or an employer of a
951	licensed private investigator which employer possesses a Class
952	"A" license under chapter 493 and must be registered with the
953	department under this chapter.
954	(2)  All contracts to acquire ownership of or entitlement
955	to unclaimed property from the person or persons entitled to the
956	unclaimed property must be in 10-point type or greater and must:
957	(a)  Have a purchase price that discounts the value of the
958	unclaimed property at the time the agreement is executed by the
959	seller at no greater than 20 percent per account held by the
960	department. An unclaimed property account must not be discounted
961	in excess of $1,000. However, the $1,000 discount limitation
962	does not apply if probate proceedings must be initiated on
963	behalf of the seller for an estate that has never been probated
964	or if the seller of the unclaimed property is not a natural
965	person or is a person outside the United States; or
966	(b)  Fully disclose, on such form as the department shall
967	prescribe by rule, that the property is held by the Bureau of
968	Unclaimed Property of the Department of Financial Services
969	pursuant to this chapter, the mailing address of the bureau, the
970	Internet address of the bureau, the person or name of the entity
971	that held the property prior to the property becoming unclaimed,
972	the date of the holder's last contact with the owner, if known,
973	and the approximate value of the property, and identify which of
974	the following categories of unclaimed property the buyer is
975	seeking to purchase as reported by the holder:
976	1.  Cash accounts.
977	2.  Stale dated checks.
978	3.  Life insurance or annuity contract assets.
979	4.  Utility deposits.
980	5.  Securities or other interests in business associations.
981	6.  Wages.
982	7.  Accounts receivable.
983	8.  Contents of safe-deposit boxes.
984
985	The purchase agreement described in this paragraph must state in
986	12-point type or greater in the order indicated with the blank
987	spaces accurately completed:
988
989	FULL DISCLOSURE STATEMENT
990
991	The property is currently held by the State of Florida
992	Department of Financial Services, Bureau of Unclaimed
993	Property, pursuant to chapter 717, Florida Statutes. The
994	mailing address of the Bureau of Unclaimed Property
995	is_______________. The Internet address of the Bureau of
996	Unclaimed Property is_______________.
997	The property was remitted by:______________.
998	Date of last contact:______________________.
999	Property category:_________________________.
1000
1001	Immediately above the signature line for the seller, the
1002	purchase agreement described in this paragraph must state in 12-
1003	point type or greater:
1004
1005	Seller agrees, by signing below, that the FULL DISCLOSURE
1006	STATEMENT has been read and fully understood.
1007
1008	Such disclosure shall be on a page signed and dated by the
1009	seller of the unclaimed property.
1010	(3)  The originals of all such disclosures and agreements
1011	to transfer ownership of or entitlement to unclaimed property
1012	shall be signed and dated by the seller and shall be filed with
1013	the claim form. The claimant shall provide the department with a
1014	legible copy of a valid driver's license of the seller at the
1015	time the original claim form is filed. If a seller has not been
1016	issued a valid driver's license at the time the original claim
1017	form is filed, the department shall be provided with a legible
1018	copy of a photographic identification of the seller issued by
1019	the United States or a foreign nation, a state or territory of
1020	the United States or a foreign nation, or a political
1021	subdivision or agency thereof. In lieu of photographic
1022	identification, a notarized sworn statement by the seller may be
1023	provided which affirms the seller's identity and states the
1024	seller's full name and address. The seller must produce to the
1025	notary his or her photographic identification issued by the
1026	United States, a state or territory of the United States, a
1027	foreign nation, or a political subdivision or agency thereof or
1028	other evidence deemed acceptable by department rule. The notary
1029	shall indicate the notary's full address on the notarized sworn
1030	statement. If a claim is filed without the required
1031	identification or the sworn statement with the original claim
1032	form and the original agreement to acquire ownership of or
1033	entitlement to the unclaimed property, the claim is void.
1034	(4)  Any contract to acquire ownership of or entitlement to
1035	unclaimed property from the person or persons entitled to the
1036	unclaimed property must provide for the purchase price to be
1037	remitted to the seller or sellers within 10 days after the
1038	execution of the contract by the seller or sellers. The contract
1039	must specify the unclaimed property account number, the name of
1040	the holder who reported the property to the department, the
1041	category of unclaimed property, the value of the unclaimed
1042	property account, and the number of shares of stock, if
1043	applicable. Proof of payment by check must be filed with the
1044	department with the claim.
1045	(5)  All agreements to purchase unclaimed property from an
1046	owner, who is a natural person, a trust, or a dissolved
1047	corporation must use the following form on 8 and 1/2-inch by 11-
1048	inch paper or on 8 and 1/2-inch by 14-inch paper with all of the
1049	text on one side of the paper and with the other side of the
1050	paper left blank; except that, at the option of the owner
1051	representative, the department disclosure form may be placed on
1052	the reverse side of the agreement. The agreement must be
1053	accurately completed and executed. No other writing or
1054	information shall be printed on the agreement. The title of the
1055	agreement shall be in bold 14-point type or greater and
1056	underlined. Except as otherwise provided in this section, the
1057	rest of the agreement shall be in 10-point type or greater. All
1058	unclaimed property accounts to be purchased must be identified
1059	on the agreement by account number. The agreement must state, in
1060	bold 12-point type or greater at the top of the agreement in the
1061	order indicated:
1062
1063	PURCHASE AGREEMENT
1064
1065	$__________ = Approximate Dollar Value of the UNCLAIMED Property
1066	PROPERTY ACCOUNT NUMBER(S):
1067	__________  = Number of Shares of Stock TO BE RECOVERED (If
1068	Applicable):__________
1069	__________ =  Percent of UNCLAIMED Property to be Paid to the
1070	Buyer
1071	$           = Amount to be Paid to Buyer
1072	$__________ = Net Amount to be Paid to Seller OWNER
1073	Property Account Number(s):_____________________
1074	$__________ = AMOUNT TO BE PAID TO BUYER
1075
1076	THIS AGREEMENT is between: _______________ (hereinafter, OWNER)
1077	and _______________ (hereinafter, BUYER) who agree that the
1078	OWNER transfers to the BUYER for a purchase price of $__________
1079	all rights to the above identified unclaimed property accounts.
1080	Original Signature of OWNER:
1081	DATE:
1082	OWNER'S Social Security Number or FEID number:
1083	Within 10 days after the execution of this Purchase Agreement by
1084	the Owner, Buyer shall remit the OWNER'S check payable to:
1085
1086	Mail check to this address:
1087
1088
1089	The OWNER'S telephone number is:
1090	Original Signature of BUYER:
1091	FEID Number of BUYER: __________DATE: __________
1092	Address of BUYER:
1093
1094	Telephone number of BUYER:
1095	Professional license number of BUYER:
1096
1097	(6)  All agreements shall include:
1098	(a)  The name and professional license number of the
1099	registrant.
1100	(b)  The name, address, and telephone number of the
1101	registrant's firm or employer.
1102	(c)  The name, address, and telephone number of the seller.
1103	(d)  The taxpayer identification number or social security
1104	number of the seller, if available.
1105	(e)  The name and address to whom the warrant is to be
1106	issued if it is different from the seller's name and address.
1107	(f)  The original signature of the registrant and the date
1108	signed by the registrant.
1109	(7)  This section does not prohibit the:
1110	(a)  Use of bolding, italics, print of different colors, or
1111	text borders as a means of highlighting or stressing certain
1112	selected items within the text.
1113	(b)  Placement of the name, address, and telephone number
1114	of the registrant's firm or company in the top margin above the
1115	words "PURCHASE AGREEMENT." No additional writing of any kind
1116	may be placed in the top margin, including, but not limited to,
1117	logos, license numbers, Internet addresses, or slogans.
1118	(c)  Deletion of the words "Number of Shares of Stock (If
1119	Applicable)" if the agreement does not relate to the recovery of
1120	securities.
1121	(d)  Deletion of the words "Percent of Property to be Paid
1122	to Buyer," if the purchase agreement provides for a flat fee to
1123	be paid as compensation to the buyer.
1124	(8)  This section does not supersede the licensing
1125	requirements of chapter 493.
1126	Section 23.  Section 717.1381, Florida Statutes, is created
1127	to read:
1128	717.1381  Void unclaimed property powers of attorney and
1129	purchase agreements.--
1130	(1)  Protecting the interests of owners of unclaimed
1131	property is declared to be the public policy of this state. It
1132	is in the best interests of the owners of unclaimed property
1133	that they have the opportunity to receive the full amount of the
1134	unclaimed property returned to them without deduction of any
1135	fees. Further, it is specifically recognized that the
1136	Legislature has mandated and the state has an obligation to make
1137	a meaningful and active efforts to notify owners concerning
1138	their unclaimed property. The state recognizes that this policy
1139	and obligation cannot be fulfilled without providing the state
1140	with the first opportunity to notify the owners of unclaimed
1141	property that they may file a claim for their property with the
1142	department. In furtherance of this policy and obligation:
1143	(a)  Any oral or written agreement or power of attorney for
1144	compensation or gain or in the expectation of compensation or
1145	gain, that includes an unclaimed property account valued at more
1146	than $250 which was made on or before 45 days after the holder
1147	or examination report was processed and added to the unclaimed
1148	property data base, subsequent to a determination that the
1149	report was accurate and that the reported property was the same
1150	as the remitted property, is void as contrary to public policy.
1151	(b)  Any oral or written purchase agreement that include an
1152	unclaimed property account valued at more than $250, owned by
1153	another and made on or before 45 days after the holder or
1154	examination report was processed and added to the unclaimed
1155	property database, subsequent to a determination that the report
1156	was accurate and that the reported property was the same as the
1157	remitted property, is void as contrary to public policy.
1158	(2)  A person may not enter into a power of attorney or an
1159	agreement, or make a solicitation to enter into a power of
1160	attorney or an agreement, that is void under this section.
1161	Section 24.  Subsections (1), (2), (3), and (6) of section
1162	717.1400, Florida Statutes, are amended, and subsection (7) is
1163	added to said section, to read:
1164	717.1400  Registration.--
1165	(1)  In order to file claims as a claimant's
1166	representative, acquire ownership of or entitlement to unclaimed
1167	property, receive a distribution of fees and costs from the
1168	department, and obtain unclaimed property dollar amounts,
1169	numbers the number of reported shares of stock, and the last
1170	four digits of social security numbers held by the department, a
1171	private investigator holding a Class "C" individual license
1172	under chapter 493 must register with the department on such form
1173	as the department shall prescribe by rule, and must be verified
1174	by the applicant. To register with the department, a private
1175	investigator must provide:
1176	(a)  A legible copy of the applicant's Class "A" business
1177	license under chapter 493 or that of the applicant's firm or
1178	employer which holds a Class "A" business license under chapter
1179	493.
1180	(b)  A legible copy of the applicant's Class "C" individual
1181	license issued under chapter 493.
1182	(c)  The applicant's business address and telephone number
1183	of the applicant's private investigative firm or employer.
1184	(d)  The names of agents or employees, if any, who are
1185	designated to act on behalf of the private investigator,
1186	together with a legible copy of their photo identification
1187	issued by an agency of the United States, or a state, or a
1188	political subdivision thereof.
1189	(e)  Sufficient information to enable the department to
1190	disburse funds by electronic funds transfer.
1191	(f)  The tax identification number of the private
1192	investigator's firm or employer which holds a Class "A" business
1193	license under chapter 493.
1194	(2)  In order to file claims as a claimant's
1195	representative, acquire ownership of or entitlement to unclaimed
1196	property, receive a distribution of fees and costs from the
1197	department, and obtain unclaimed property dollar amounts,
1198	numbers the number of reported shares of stock, and the last
1199	four digits of social security numbers held by the department, a
1200	Florida-certified public accountant must register with the
1201	department on such form as the department shall prescribe by
1202	rule, and must be verified by the applicant. To register with
1203	the department a Florida-certified public accountant must
1204	provide:
1205	(a)  The applicant's Florida Board of Accountancy number.
1206	(b)  A legible copy of the applicant's current driver's
1207	license showing the full name and current address of such
1208	person. If a current driver's license is not available, another
1209	form of identification showing the full name and current address
1210	of such person or persons shall be filed with the department.
1211	(c)  The applicant's business address and telephone number
1212	of the applicant's public accounting firm or employer.
1213	(d)  The names of agents or employees, if any, who are
1214	designated to act on behalf of the Florida-certified public
1215	accountant, together with a legible copy of their photo
1216	identification issued by an agency of the United States, or a
1217	state, or a political subdivision thereof.
1218	(e)  Sufficient information to enable the department to
1219	disburse funds by electronic funds transfer.
1220	(f)  The tax identification number of the accountant's
1221	public accounting firm employer.
1222	(3)  In order to file claims as a claimant's
1223	representative, acquire ownership of or entitlement to unclaimed
1224	property, receive a distribution of fees and costs from the
1225	department, and obtain unclaimed property dollar amounts,
1226	numbers the number of reported shares of stock, and the last
1227	four digits of social security numbers held by the department,
1228	an attorney licensed to practice in this state must register
1229	with the department on such form as the department shall
1230	prescribe by rule, and must be verified by the applicant. To
1231	register with the department, such attorney must provide:
1232	(a)  The applicant's Florida Bar number.
1233	(b)  A legible copy of the applicant's current driver's
1234	license showing the full name and current address of such
1235	person. If a current driver's license is not available, another
1236	form of identification showing the full name and current address
1237	of such person or persons shall be filed with the department.
1238	(c)  The applicant's business address and telephone number
1239	of the applicants firm or employer.
1240	(d)  The names of agents or employees, if any, who are
1241	designated to act on behalf of the attorney, together with a
1242	legible copy of their photo identification issued by an agency
1243	of the United States, or a state, or a political subdivision
1244	thereof.
1245	(e)  Sufficient information to enable the department to
1246	disburse funds by electronic funds transfer.
1247	(f)  The tax identification number of the attorney's firm
1248	or lawyer's employer law firm.
1249	(6)  A registrant's firm or employer registrant or
1250	applicant for registration may not have a name that might lead
1251	another person to conclude that the registrant's firm or
1252	employer registrant is affiliated or associated with the United
1253	States, or an agency thereof, or a state or an agency or
1254	political subdivision of a state. The department shall deny an
1255	application for registration or revoke a registration if the
1256	applicant's or registrant's firm or employer applicant or
1257	registrant has a name that might lead another person to conclude
1258	that the firm or employer applicant or registrant is affiliated
1259	or associated with the United States, or an agency thereof, or a
1260	state or an agency or political subdivision of a state. Names
1261	that might lead another person to conclude that the firm or
1262	employer applicant or registrant is affiliated or associated
1263	with the United States, or an agency thereof, or a state or an
1264	agency or political subdivision of a state, include, but are not
1265	limited to, the words United States, Florida, state, bureau,
1266	division, department, or government.
1267	(7)  The licensing and other requirements of this section
1268	must be maintained as a condition of registration with the
1269	department.
1270	Section 25.  This act shall take effect upon becoming a
1271	law.

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