The Florida Senate

296.12  Members' Deposits Trust Fund.--

(1)  There is hereby created a Members' Deposits Trust Fund. All moneys received by the home pursuant to this section shall be deposited into the Members' Deposits Trust Fund, a local fund administered by the home and which is not a part of the State Treasury.

(2)  The members of the home may voluntarily deposit moneys with the home, which the home shall receive and keep without charge in the Members' Deposits Trust Fund. Such moneys voluntarily deposited with the home by a member may be withdrawn, in whole or in part, at the will of the member. Any balance remaining upon the member's death, undisposed of by will and not paid to his or her heirs at law shall be paid to the state in accordance with the provisions of chapter 717.

(3)  Upon a member's discharge or voluntary departure from the home, if such moneys are not so demanded at the time of discharge or departure, or within a period of 3 years thereafter, or demanded by the heirs, devisees, or legatees in case of the member's decease after his or her discharge or voluntary departure, the same shall be paid to the state as provided in chapter 717.

(4)  All accrued interest on this trust fund shall be accounted for by the financial manager and deposited to the Grants and Donations Trust Fund.

History.--s. 8, ch. 89-168; s. 13, ch. 92-80; s. 257, ch. 95-148; s. 50, ch. 96-418.