Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 2494
Barcode 701216
CHAMBER ACTION
Senate House
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11 The Committee on Judiciary (Clary) recommended the following
12 amendment:
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14 Senate Amendment (with title amendment)
15 On page 6, line 6, through
16 page 8, line 5, delete those lines
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18 and insert:
19 Section 3. Subsections (3) and (4) and paragraph (c)
20 of subsection (7) of section 717.117, Florida Statutes, are
21 amended to read:
22 717.117 Report of unclaimed property.--
23 (3) The report must be filed before May 1 of each
24 year. The Such report shall apply to the preceding calendar
25 year. The department may impose and collect a penalty of $10
26 per day up to a maximum of $500 for the failure to timely
27 report or the failure to include in a report information
28 required by this chapter. The penalty shall be remitted to the
29 department within 30 days after the date of the notification
30 to the holder that the penalty is due and owing. As necessary
31 for proper administration of this chapter, the department may
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Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 2494
Barcode 701216
1 waive any penalty due with appropriate justification. On
2 written request by any person required to file a report and
3 upon a showing of good cause, the department may postpone the
4 reporting date. The department must provide information
5 contained in a report filed with the department to any person
6 requesting a copy of the report or information contained in a
7 report, to the extent the information requested is not
8 confidential, within 45 90 days after the report has been
9 processed and added to the unclaimed property database
10 subsequent to a determination that the report is accurate and
11 that the reported property is the same as the remitted
12 property.
13 (4) Holders of inactive accounts having a value of $50
14 or more shall use due diligence to locate apparent owners. Not
15 more than 120 days and not less than 60 days prior to filing
16 the report required by this section, the holder in possession
17 of property presumed unclaimed and subject to custody as
18 unclaimed property under this chapter shall send written
19 notice to the apparent owner at the apparent owner's last
20 known address informing the apparent owner that the holder is
21 in possession of property subject to this chapter, if the
22 holder has in its records an address for the apparent owner
23 which the holder's records do not disclose to be inaccurate.
24 (a) When an owner's account becomes inactive, the
25 holder shall conduct at least one search for the apparent
26 owner using due diligence. For purposes of this section, an
27 account is inactive if 2 years have transpired after the last
28 owner-initiated account activity, if 2 years have transpired
29 after the expiration date on the instrument or contract, or if
30 2 years have transpired since first-class mail has been
31 returned as undeliverable.
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Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 2494
Barcode 701216
1 (b) Within 180 days after an account becomes inactive,
2 the holder shall conduct a search to locate the apparent owner
3 of the property. The holder may satisfy such requirement by
4 conducting one annual search for the owners of all accounts
5 which have become inactive during the prior year.
6 (c) Within 30 days after receiving updated address
7 information, the holder shall provide notice by telephone or
8 first-class mail to the current address notifying the apparent
9 owner that the holder is in possession of property which is
10 presumed unclaimed and may be remitted to the department. The
11 notice shall also provide the apparent owner with the address
12 or the telephone number of an office where the apparent owner
13 may claim the property or reestablish the inactive account.
14 (d) The account shall be presumed unclaimed if the
15 holder is not able to contact the apparent owner by telephone,
16 the first-class mail notice is returned to the holder as
17 undeliverable, or the apparent owner does not contact the
18 holder in response to the first-class mail notice.
19 (7)
20 (c) This section does not apply to credit balances,
21 overpayments, refunds, or outstanding checks owed by a health
22 care provider to a managed care payor with whom the health
23 care provider has a managed care contract, except that the
24 credit balances, overpayments, refunds, or outstanding checks
25 become due and owing pursuant to the managed care contract.
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28 ================ T I T L E A M E N D M E N T ===============
29 And the title is amended as follows:
30 On page 1, line 15, delete that line
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5:30 PM 04/25/05 s2494c1c-ju04-k9g
Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 2494
Barcode 701216
1 and insert:
2 amending time and notice requirements;
3 providing an additional exception to the
4 reporting of unclaimed property; amending
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