HB 1527

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

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