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Senate Bill 2288

Senate Bill sb2288

CODING: Words stricken are deletions; words underlined are additions.
    Florida Senate - 2004                                  SB 2288

    By Senator Clary





    4-906A-04                                          See HB 1039

  1                      A bill to be entitled

  2         An act relating to unclaimed property; amending

  3         s. 717.101, F.S.; providing definitions;

  4         amending ss. 717.106, 717.107, 717.109, and

  5         717.116, F.S.; revising criteria for presuming

  6         as unclaimed certain bank deposits and funds in

  7         financial organizations, funds owing under life

  8         insurance policies, funds held by business

  9         associations, and property held in a

10         safe-deposit box or other safekeeping

11         repository, respectively; amending s. 717.117,

12         F.S.; revising reporting requirements for

13         unclaimed property; presuming certain accounts

14         as unclaimed under certain circumstances;

15         amending s. 717.118, F.S.; providing

16         requirements for notification of apparent

17         owners of unclaimed property; amending s.

18         717.119, F.S.; revising requirements for

19         delivery of certain unclaimed property;

20         providing penalties for late deliveries;

21         amending s. 717.1201, F.S.; revising certain

22         holder payment and repayment requirements;

23         amending s. 717.122, F.S.; revising certain

24         public sale requirements; authorizing the

25         Department of Financial Services to deduct

26         certain auction fees, costs, and expenses;

27         prohibiting actions or proceedings against the

28         department for certain decisions relating to

29         auctions of unclaimed property; specifying that

30         certain sales of unclaimed property are not

31         subject to the sales tax; amending s. 717.123,

                                  1

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         F.S.; increasing a maximum amount of funds the

 2         department may retain from certain funds

 3         received; amending s. 717.124, F.S.; providing

 4         additional requirements for filing unclaimed

 5         property claims; providing for the return or

 6         withdrawal of certain claims under certain

 7         circumstances; specifying a time period for

 8         department determination of claims; authorizing

 9         the department to deny claims under certain

10         circumstances; specifying an exclusive remedy

11         for subsequent claimants; revising requirements

12         for a power of attorney; requiring direct

13         delivery of safe-deposit boxes under certain

14         circumstances; revising payment of fees and

15         costs requirements; creating s. 717.12403,

16         F.S.; providing presumptions for certain

17         unclaimed demand, savings, or checking accounts

18         in financial institutions with more than one

19         beneficiary; creating s. 717.12404, F.S.;

20         providing requirements for claims for property

21         reported in the name of a dissolved

22         corporation; creating s. 717.12405, F.S.;

23         providing requirements; for claims by estates;

24         amending s. 717.1241, F.S.; revising

25         requirements for remittance of property subject

26         to conflicting claims; amending s. 717.1242,

27         F.S.; clarifying legislative intent relating to

28         filing certain claims; creating s. 717.1244,

29         F.S.; providing criteria for department

30         determinations of claims; amending s. 717.126,

31         F.S.; providing a criterion for proof of

                                  2

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         entitlement; specifying venue in certain

 2         unclaimed property actions; creating s.

 3         717.1261, F.S.; requiring a death certificate

 4         in claiming entitlement to certain unclaimed

 5         property; creating s. 717.1262, F.S.; requiring

 6         certain court documents in claiming entitlement

 7         to certain unclaimed property; amending s.

 8         717.1301, F.S.; revising certain fee and

 9         expense requirements for investigations or

10         examinations; providing for interest on such

11         amounts under certain circumstances; amending

12         s. 717.1311, F.S.; deleting a requirement to

13         pay certain amounts for failing to maintain

14         certain records; amending s. 717.1315, F.S.;

15         clarifying a record retention requirement for

16         owner representatives; amending s. 717.132,

17         F.S.; specifying criteria for certain

18         corrective actions; creating s. 717.1322, F.S.;

19         specifying grounds for certain disciplinary

20         actions; providing for certain disciplinary

21         actions; amending s. 717.133, F.S.; deleting

22         authorization for the department to enter into

23         certain contracts for certain purposes;

24         creating s. 717.1331, F.S.; providing for

25         department actions against certain lienholders

26         under certain circumstances; creating s.

27         717.1332, F.S.; authorizing the department to

28         enter into certain audit or examination

29         contracts; exempting contingency fee contracts

30         from certain competitive solicitation

31         requirements; creating s. 717.1333, F.S.;

                                  3

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         providing for admitting certain documents into

 2         evidence in certain actions; amending s.

 3         717.134, F.S.; authorizing the department to

 4         impose and collect penalties for failing to

 5         report certain information; authorizing the

 6         department waive such penalties under certain

 7         circumstances; creating s. 717.1341, F.S.;

 8         prohibiting receipt of unentitled unclaimed

 9         property; providing for liability for such

10         property under certain circumstances;

11         authorizing the department to maintain certain

12         civil or administrative actions; providing for

13         fines, costs, and attorney fees; prohibiting

14         filing claims for unentitled unclaimed

15         property; providing criminal penalties;

16         amending s. 717.135, F.S.; revising

17         requirements for agreements to recover certain

18         property; providing an agreement form; creating

19         s. 717.1351, F.S.; providing requirements for

20         acquisition of unclaimed property by certain

21         persons; providing certain contract

22         requirements; providing a contract form;

23         creating s. 717.1400, F.S.; providing requiring

24         certain licensed persons to register with the

25         department for certain purposes; providing

26         registration requirements; providing for denial

27         of registration under certain circumstances;

28         providing registration limitations; amending s.

29         212.02, F.S.; revising a definition to conform;

30         amending ss. 322.142 and 395.3025, F.S.;

31         providing for disclosure of certain

                                  4

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         confidential information to the department

 2         under certain circumstances; providing an

 3         effective date.

 4  

 5  Be It Enacted by the Legislature of the State of Florida:

 6  

 7         Section 1.  Subsection (15) of section 717.101, Florida

 8  Statutes, is renumbered as subsection (16) and amended,

 9  subsections (5) through (18) are renumbered as subsections (6)

10  through (19), respectively, present subsection (19) is

11  renumbered as subsection (21), and new subsections (5) and

12  (20) are added to that section, to read:

13         717.101  Definitions.--As used in this chapter, unless

14  the context otherwise requires:

15         (5)  "Claimant" means the person on whose behalf a

16  claim is filed.

17         (16)(15)  "Owner" means a depositor in the case of a

18  deposit, a beneficiary in case of a trust or other than a

19  deposit in trust, a claimant, or a payee in the case of other

20  intangible property, or a person having a legal or equitable

21  interest in property subject to this chapter or his or her

22  legal representative.

23         (20)  "Ultimate equitable owner" means a natural person

24  who, directly or indirectly, owns or controls an ownership

25  interest in a corporation, a foreign corporation, an alien

26  business organization, or any other form of business

27  organization, regardless of whether such natural person owns

28  or controls such ownership interest through one or more

29  natural persons or one or more proxies, powers of attorney,

30  nominees, corporations, associations, partnerships, trusts,

31  

                                  5

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  joint stock companies, or other entities or devices, or any

 2  combination thereof.

 3         Section 2.  Subsection (1) of section 717.106, Florida

 4  Statutes, are amended to read:

 5         717.106  Bank deposits and funds in financial

 6  organizations.--

 7         (1)  Any demand, savings, or matured time deposit with

 8  a banking or financial organization, including deposits that

 9  are automatically renewable, and any funds paid toward the

10  purchase of shares, a mutual investment certificate, or any

11  other interest in a banking or financial organization is

12  presumed unclaimed unless the owner has, within 5 years:

13         (a)  Increased or decreased the amount of the deposit

14  or presented the passbook or other similar evidence of the

15  deposit for the crediting of interest;

16         (b)  Communicated in writing or by telephone with the

17  banking or financial organization concerning the property;

18         (c)  Otherwise indicated an interest in the property as

19  evidenced by a memorandum or other record on file with the

20  banking or financial organization;

21         (d)  Owned other property to which paragraph (a),

22  paragraph (b), or paragraph (c) is applicable and if the

23  banking or financial organization communicates in writing with

24  the owner with regard to the property that would otherwise be

25  presumed unclaimed under this subsection at the address to

26  which communications regarding the other property regularly

27  are sent; or

28         (e)  Had another relationship with the banking or

29  financial organization concerning which the owner has:

30         1.  Communicated in writing with the banking or

31  financial organization; or

                                  6

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         2.  Otherwise indicated an interest as evidenced by a

 2  memorandum or other record on file with the banking or

 3  financial organization and if the banking or financial

 4  organization communicates in writing with the owner with

 5  regard to the property that would otherwise be unclaimed under

 6  this subsection at the address to which communications

 7  regarding the other relationship regularly are sent; or

 8         (f)  Received first-class mail from the banking or

 9  financial organization or a subsidiary of such banking or

10  financial organization, which was not returned as

11  undeliverable, in the ordinary course of business at the

12  address reflected in the banking or financial organization's

13  records.

14         Section 3.  Subsection (1) of section 717.107, Florida

15  Statutes, is amended to read:

16         717.107  Funds owing under life insurance policies.--

17         (1)  Funds held or owing under any life or endowment

18  insurance policy or annuity contract which has matured or

19  terminated are presumed unclaimed if unclaimed for more than 5

20  years after the funds became due and payable as established

21  from the records of the insurance company holding or owing the

22  funds, but property described in paragraph (3)(b) is presumed

23  unclaimed if such property is not claimed for more than 2

24  years. The amount presumed unclaimed shall include any amount

25  due and payable under s. 627.4615.

26         Section 4.  Section 717.109, Florida Statutes, is

27  amended to read:

28         717.109  Refunds held by business associations.--Except

29  as to the extent otherwise provided ordered by law the court

30  or administrative agency, any sum that a business association

31  has been ordered to refund by a court or administrative agency

                                  7

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  which has been unclaimed by the owner for more than 1 year

 2  after it became payable in accordance with the final

 3  determination or order providing for the refund, regardless of

 4  whether the final determination or order requires any person

 5  entitled to a refund to make a claim for it, is presumed

 6  unclaimed.

 7         Section 5.  Section 717.116, Florida Statutes, is

 8  amended to read:

 9         717.116  Contents of safe-deposit box or other

10  safekeeping repository.--All tangible and intangible property

11  held by a banking or financial organization in a safe-deposit

12  box or any other safekeeping repository in this state in the

13  ordinary course of the holder's business, and proceeds

14  resulting from the sale of the property permitted by law, that

15  has not been claimed by the owner for more than 3 years after

16  the lease or rental period on the box or other repository has

17  expired are presumed unclaimed.

18         Section 6.  Subsections (1), (3), and (4) of section

19  717.117, Florida Statutes, are amended to read:

20         717.117  Report of unclaimed property.--

21         (1)  Every person holding funds or other property,

22  tangible or intangible, presumed unclaimed and subject to

23  custody as unclaimed property under this chapter shall report

24  to the department on such forms as the department may

25  prescribe by rule. In lieu of forms, any the holder of

26  unclaimed property belonging to 25 or more apparent owners

27  must may submit the required information via electronic medium

28  as the department may prescribe by rule. The report must

29  include:

30         (a)  Except for traveler's checks and money orders, the

31  name, social security number or taxpayer identification

                                  8

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  number, and date of birth, if known, and last known address,

 2  if any, of each person appearing from the records of the

 3  holder to be the owner of any property which is presumed

 4  unclaimed and which has a value of $50 or more.

 5         (b)  For unclaimed funds which have a value of $50 or

 6  more held or owing under any life or endowment insurance

 7  policy or annuity contract, the full name, taxpayer

 8  identification number or social security number, date of

 9  birth, if known, and last known address of the insured or

10  annuitant and of the beneficiary according to records of the

11  insurance company holding or owing the funds.

12         (c)  For all tangible property held in a safe-deposit

13  box or other safekeeping repository, a description of the

14  property and the place where the property is held and may be

15  inspected by the department, and any amounts owing to the

16  holder. Contents of a safe-deposit box or other safekeeping

17  repository which consist of documents or writings of a private

18  nature and which have little or no apparent value shall not be

19  presumed unclaimed.

20         (d)  The nature and identifying number, if any, or

21  description of the property and the amount appearing from the

22  records to be due. Items of value under $50 each may be

23  reported in the aggregate.

24         (e)  The date the property became payable, demandable,

25  or returnable, and the date of the last transaction with the

26  apparent owner with respect to the property.

27         (f)  Any person or business association or public

28  corporation entity holding funds presumed unclaimed and having

29  a total value of $10 or less may file a zero balance report

30  for that reporting period. The balance brought forward to the

31  new reporting period is zero.

                                  9

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (g)  Such other information as the department may

 2  prescribe by rule as necessary for the administration of this

 3  chapter.

 4         (h)  Credit balances, customer overpayments, security

 5  deposits, and refunds having a value of less than $10 shall

 6  not be presumed unclaimed.

 7         (3)  The report must be filed before May 1 of each

 8  year. Such report shall apply to the preceding calendar year.

 9  If such report is not filed on or before the applicable filing

10  date, the holder shall pay to The department may impose and

11  collect a penalty of $10 per day up to a maximum of for each

12  day the report is delinquent, but such penalty shall not

13  exceed $500 for the failure to timely report or the failure to

14  include in a report information required by this chapter. The

15  penalty shall be remitted to the department within 30 days

16  after the date of the notification to the holder that the

17  penalty is due and owing. As necessary for proper

18  administration of this chapter, the department may waive any

19  penalty due with appropriate justification. On written request

20  by any person required to file a report and upon a showing of

21  good cause, the department may postpone the reporting date.

22  The department must provide information contained in a report

23  filed with the department to any person requesting a copy of

24  the report or information contained in a report, to the extent

25  the information requested is not confidential, within 90 days

26  after the report has been processed and added to the unclaimed

27  property data base subsequent to a determination that the

28  report is accurate and that the reported property is the same

29  as the remitted property.

30         (4)  Holders of inactive accounts having a value of $50

31  or more shall use due diligence to locate apparent owners.

                                  10

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (a)  When an owner's account becomes inactive, the

 2  holder shall conduct at least one search for the apparent

 3  owner using due diligence. For purposes of this section,

 4  except for banks, credit unions, and state or federal savings

 5  associations, an account is inactive if 2 years have

 6  transpired after the last owner-initiated account activity, if

 7  2 years have transpired after the expiration date on the

 8  instrument or contract, or if 2 years have transpired since

 9  first-class mail has been returned as undeliverable. With

10  respect to banks, credit unions, and state or federal savings

11  associations, an account is inactive if 2 years have

12  transpired after the last owner-initiated account activity and

13  first-class mail has been returned as undeliverable or 2 years

14  after the expiration date on the instrument or contract and

15  first-class mail has been returned as undeliverable.

16         (b)1.  Within 180 days after an account becomes

17  inactive, the holder shall conduct a search to locate the

18  apparent owner of the property. The holder may satisfy such

19  requirement by conducting one annual search for the owners of

20  all accounts which have become inactive during the prior year.

21         (c)2.  Within 30 days after receiving updated address

22  information, the holder shall provide notice by telephone or

23  first-class mail to the current address notifying the apparent

24  owner that the holder is in possession of property which is

25  presumed unclaimed and may be remitted to the department. The

26  notice shall also provide the apparent owner with the address

27  or the telephone number of an office where the apparent owner

28  may claim the property or reestablish the inactive account.

29         (d)  The account shall be presumed unclaimed if the

30  holder is not able to contact the apparent owner by telephone,

31  the first-class mail notice is returned to the holder as

                                  11

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  undeliverable, or the apparent owner does not contact the

 2  holder in response to the first-class mail notice.

 3         (b)  The claim of the apparent owner is not barred by

 4  the statute of limitations.

 5         Section 7.  Section 717.118, Florida Statutes, is

 6  amended to read:

 7         717.118  Notification of apparent owners Notice and

 8  publication of lists of unclaimed property.--

 9         (1)  It is specifically recognized that the state has

10  an obligation to make an effort to notify owners of unclaimed

11  property in a cost-effective manner. In order to provide all

12  the citizens of this state an effective and efficient program

13  for the recovery of unclaimed property, the department shall

14  use cost-effective means to make at least one active attempt

15  to notify owners of unclaimed property accounts valued at more

16  than $100 with a reported address or taxpayer identification

17  number the existence of unclaimed property held by the

18  department. Such active attempt to notify locate apparent

19  owners shall include any attempt by the department to directly

20  contact the owner. Other means of notification, such as

21  publication of the names of owners in the newspaper, on

22  television, on the Internet, or through other promotional

23  efforts and items in which the department does not directly

24  attempt to contact the owner are expressly declared to be

25  passive attempts. Nothing in this subsection precludes other

26  agencies or entities of state government from notifying owners

27  of the existence of unclaimed property or attempting to notify

28  locate apparent owners of unclaimed property.

29         (2)  The following notification requirements shall

30  apply:

31  

                                  12

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (a)  Notifications that are published or televised may

 2  consist of the names of apparent owners of unclaimed property,

 3  and information regarding recovery of unclaimed property from

 4  the department. Such notification may be televised or

 5  published in the county in which the last known address of the

 6  apparent owner is located or, if the address is unknown, in

 7  the county in which the holder has its principal place of

 8  business. Published notifications may be in accordance with s.

 9  50.011.

10         (b)  Notification provided directly to individual

11  apparent owners shall consist of a description of the property

12  and information regarding recovery of unclaimed property from

13  the department.

14         (3)  The department may publish in the notice any items

15  of more than $100.

16         (3)(4)  This section is not applicable to sums payable

17  on traveler's checks, money orders, and other written

18  instruments presumed unclaimed under s. 717.104.

19         Section 8.  Subsection (5) of section 717.119, Florida

20  Statutes, is amended to read:

21         717.119  Payment or delivery of unclaimed property.--

22         (5)  All intangible and tangible property held in a

23  safe-deposit box or any other safekeeping repository reported

24  under s. 717.117 shall not be delivered to the department

25  until 120 days after the report due date. The delivery of the

26  property, through the United States mail or any other carrier,

27  shall be insured by the holder at an amount equal to the

28  estimated value of the property. Each package shall be clearly

29  marked on the outside "Deliver Unopened." A holder's

30  safe-deposit box contents shall be delivered to the department

31  in a single shipment.

                                  13

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (a)  Holders may remit the value of cash and coins

 2  found in unclaimed safe-deposit boxes to the department by

 3  cashier's check or by electronic funds transfer, unless the

 4  cash or coins have a value above face value. The department

 5  shall identify by rule those cash and coin items having a

 6  numismatic value. Cash and coin items identified as having a

 7  numismatic value shall be remitted to the department in their

 8  original form.

 9         (b)  Any firearm or ammunition found in an unclaimed

10  safe-deposit box or any other safekeeping repository shall be

11  delivered by the holder to a law enforcement agency for

12  disposal. However, the department is authorized to make a

13  reasonable attempt to ascertain the historical value to

14  collectors of any firearm that has been delivered to the

15  department. Any firearm appearing to have historical value to

16  collectors may be sold by the department pursuant to s.

17  717.122 to a person having a federal firearms license. Any

18  firearm which is not sold pursuant to s. 717.122 shall be

19  delivered by the department to a law enforcement agency in

20  this state for disposal. The department shall not be

21  administratively, civilly, or criminally liable for any

22  firearm delivered by the department to a law enforcement

23  agency in this state for disposal.

24         (c)  If such property is not paid or delivered to the

25  department on or before the applicable payment or delivery

26  date, the holder shall pay to the department a penalty of $10

27  for each safe-deposit box shipment received late, but such

28  penalty shall not exceed $1,000. The penalty shall be $100 for

29  a safe-deposit box shipment container that is late 30 days or

30  less. Thereafter, the penalty shall be $500 for a safe-deposit

31  box shipment container that is late for each additional

                                  14

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  successive 30-day period. The penalty assessed against a

 2  holder for a late safe-deposit box shipment container shall

 3  not exceed $4,000 annually. The penalty shall be remitted to

 4  the department within 30 days after the date of the

 5  notification to the holder that the penalty is due and owing.

 6         (d)  The department may waive any penalty due with

 7  appropriate justification, as provided by rule.

 8         (e)  Upon written request by any person required to

 9  deliver safe-deposit box contents, the department may postpone

10  the delivery.

11         Section 9.  Subsection (2) of section 717.1201, Florida

12  Statutes, is amended to read:

13         717.1201  Custody by state; holder relieved from

14  liability; reimbursement of holder paying claim; reclaiming

15  for owner; defense of holder; payment of safe-deposit box or

16  repository charges.--

17         (2)  Any holder who has paid money to the department

18  pursuant to this chapter may make payment to any person

19  appearing to the holder to be entitled to payment and, upon

20  filing proof of payment and proof that the payee is was

21  entitled thereto, the department shall forthwith repay

22  reimburse the holder for the payment without deduction of any

23  fee or other charges. If repayment reimbursement is sought for

24  a payment made on a negotiable instrument, including a

25  traveler's check or money order, the holder must be repaid

26  reimbursed under this subsection upon filing proof that the

27  instrument was duly presented and that the payee is payment

28  was made to a person who appeared to the holder to be entitled

29  to payment. The holder shall be repaid reimbursed for payment

30  made under this subsection even if the payment was made to a

31  person whose claim was barred under s. 717.129(1).

                                  15

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         Section 10.  Subsections (1) and (3) of section

 2  717.122, Florida Statutes, are amended, and subsection (5) is

 3  added to that section, to read:

 4         717.122  Public sale of unclaimed property.--

 5         (1)  Except as provided in subsection (2), the

 6  department after the receipt of unclaimed property shall sell

 7  it to the highest bidder at public sale on the Internet or at

 8  a specified physical location wherever in the judgment of the

 9  department the most favorable market for the property involved

10  exists. The department may decline the highest bid and reoffer

11  the property for sale if in the judgment of the department the

12  bid is insufficient. The department shall have the discretion

13  to withhold from sale any unclaimed property that the

14  department deems to be of benefit to the people of the state.

15  If in the judgment of the department the probable cost of sale

16  exceeds the value of the property, it need not be offered for

17  sale and may be disposed of as the department determines

18  appropriate. Any sale at a specified physical location held

19  under this section must be preceded by a single publication of

20  notice, at least 3 weeks in advance of sale, in a newspaper of

21  general circulation in the county in which the property is to

22  be sold. The department shall proportionately deduct auction

23  fees, preparation costs, and expenses from the amount posted

24  to the owner's account when safe-deposit box contents are

25  sold. No action or proceeding may be maintained against the

26  department for or on account of any decision to decline the

27  highest bid or withhold any unclaimed property from sale.

28         (3)  Unless the department deems it to be in the public

29  interest to do otherwise, all securities presumed unclaimed

30  and delivered to the department may be sold upon receipt. Any

31  person making a claim pursuant to this chapter is entitled to

                                  16

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  receive either the securities delivered to the department by

 2  the holder, if they still remain in the hands of the

 3  department, or the proceeds received from sale, less any

 4  amounts deducted pursuant to subsection (2), but no person has

 5  any claim under this chapter against the state, the holder,

 6  any transfer agent, any registrar, or any other person acting

 7  for or on behalf of a holder for any appreciation in the value

 8  of the property occurring after delivery by the holder to the

 9  state.

10         (5)  The sale of unclaimed tangible personal property

11  is not subject to tax under chapter 212 when such property is

12  sold by or on behalf of the department pursuant to this

13  section.

14         Section 11.  Subsection (1) of section 717.123, Florida

15  Statutes, is amended to read:

16         717.123  Deposit of funds.--

17         (1)  All funds received under this chapter, including

18  the proceeds from the sale of unclaimed property under s.

19  717.122, shall forthwith be deposited by the department in the

20  Unclaimed Property Trust Fund. The department shall retain,

21  from funds received under this chapter, an amount not

22  exceeding $15 $8 million from which the department shall make

23  prompt payment of claims allowed by the department and shall

24  pay the costs incurred by the department in administering and

25  enforcing this chapter. All remaining funds received by the

26  department under this chapter shall be deposited by the

27  department into the State School Fund.

28         Section 12.  Section 717.124, Florida Statutes, is

29  amended to read:

30         717.124  Unclaimed property claims Filing of claim with

31  department.--

                                  17

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (1)  Any person, excluding another state, claiming an

 2  interest in any property paid or delivered to the department

 3  under this chapter may file with the department a claim on a

 4  form prescribed by the department and verified by the claimant

 5  or the claimant's representative. The claimant's

 6  representative must be an attorney licensed to practice law in

 7  this state, a licensed Florida-certified public accountant, or

 8  a private investigator licensed under chapter 493. The

 9  claimant s representative must be registered with the

10  department under this chapter. The claimant, or the claimant's

11  representative, shall provide the department with a legible

12  copy of a valid driver's license of the claimant at the time

13  the original claim form is filed. If the claimant has not been

14  issued a valid driver's license at the time the original claim

15  form is filed, the department shall be provided with a legible

16  copy of a photographic identification of the claimant issued

17  by the United States or a foreign nation, a state or territory

18  of the United States or foreign nation, or a political

19  subdivision or agency thereof. Any claim filed without the

20  required identification with the original claim form and the

21  original power of attorney, if applicable, is void.

22         (a)  Within 90 days after receipt of a claim, the

23  department may return any claim that provides for the receipt

24  of fees and costs greater than that permitted under this

25  chapter or that contains any apparent errors or omissions. The

26  department may also request that the claimant or the

27  claimant's representative provide additional information. The

28  department shall retain a copy or electronic image of the

29  claim.

30         (b)  A claimant or the claimant's representative shall

31  be deemed to have withdrawn a claim if no response to the

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  department's request for additional information is received by

 2  the department within 60 days after the notification of any

 3  apparent errors or omissions.

 4         (c)  Within 90 days after receipt of the claim, or the

 5  response of the claimant or the claimant's representative to

 6  the department's request for additional information, whichever

 7  is later, the department shall determine each claim within 90

 8  days after it is filed. Such determination shall contain a

 9  notice of rights provided by ss. 120.569 and 120.57. The

10  90-day period shall be extended by 60 days if the department

11  has good cause to need additional time or if the unclaimed

12  property:

13         1.  Is owned by a person who has been a debtor in

14  bankruptcy;

15         2.  Was reported with an address outside of the United

16  States;

17         3.  Is being claimed by a person outside of the United

18  States; or

19         4.  Contains documents filed in support of the claim

20  that are not in the English language and have not been

21  accompanied by an English language translation.

22         (d)  The department shall deny any claim under which

23  the claimant's representative has refused to authorize the

24  department to reduce the fees and costs to the maximum

25  permitted under this chapter.

26         (2)  A claim for a cashier's check or a stock

27  certificate without the original instrument may require an

28  indemnity bond equal to the value of the claim to be provided

29  prior to issue of the stock or payment of the claim by the

30  department.

31  

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (3)  The department may require an affidavit swearing

 2  to the authenticity of the claim, lack of documentation, and

 3  an agreement to allow the department to provide the name and

 4  address of the claimant to subsequent claimants coming forward

 5  with substantiated proof to claim the account. This shall

 6  apply to claims equal to or less than $250. The exclusive

 7  remedy of a subsequent claimant to the property shall be

 8  against the person who received the property from the

 9  department.

10         (4)(a)  Except as otherwise provided in this chapter,

11  if a claim is determined in favor of the claimant, the

12  department shall deliver or pay over to the claimant the

13  property or the amount the department actually received or the

14  proceeds if it has been sold by the department, together with

15  any additional amount required by s. 717.121.

16         (b)(5)(a)  If an owner authorizes an attorney licensed

17  to practice law in this state, Florida-certified public

18  accountant, or private investigator licensed under chapter

19  493, and registered with the department under this chapter,

20  investigative agency which is duly licensed to do business in

21  this state to claim the unclaimed property on the owner's

22  behalf, the department is authorized to make distribution of

23  the property or money in accordance with such power of

24  attorney. The original power of attorney must be executed by

25  the owner and must be filed with the department.

26         (c)(b)1.  Payments of approved claims for unclaimed

27  cash accounts shall be made to the owner after deducting any

28  fees and costs authorized pursuant to a written power of

29  attorney. The contents of a safe-deposit box shall be

30  delivered directly to the claimant notwithstanding any

31  agreement to the contrary.

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         2.  Payments of fees and costs authorized pursuant to a

 2  written power of attorney for approved cash claims shall be

 3  made or issued forwarded to the law firm employer of the

 4  designated attorney licensed to practice law in this state,

 5  the public accountancy firm employer of the licensed

 6  Florida-certified public accountant, or the designated

 7  employing private investigative agency licensed by this state.

 8  Such payments shall may be made by electronic funds transfer

 9  and may be made on such periodic schedule as the department

10  may define by rule, provided the payment intervals do not

11  exceed 31 days.

12         3.  Payments of approved claims for unclaimed

13  securities and other intangible ownership interests made to an

14  attorney, Florida-certified public accountant, or private

15  investigative agency shall be promptly deposited into a trust

16  or escrow account which is regularly maintained by the

17  attorney, Florida-certified public accountant, or the private

18  investigative agency in a financial institution authorized to

19  accept such deposits and located in this state.

20         (c)  Distribution of unclaimed property by the

21  attorney, Florida-certified public accountant, or private

22  investigative agency to the claimant shall be made within 10

23  days following final credit of the deposit into the trust or

24  escrow account at the financial institution, unless a party to

25  the agreement protests in writing such distribution before it

26  is made.

27         (5)(6)  The department shall not be administratively,

28  civilly, or criminally liable for any property or funds

29  distributed pursuant to this section, provided such

30  distribution is made in good faith.

31  

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (6)  This section does not supersede the licensing

 2  requirements of chapter 493.

 3         Section 13.  Section 717.12403, Florida Statutes, is

 4  created to read:

 5         717.12403  Unclaimed demand, savings, or checking

 6  account in a financial institution held in the name of more

 7  than one person.--

 8         (1)(a)  If an unclaimed demand, savings, or checking

 9  account in a financial institution is reported as an "and"

10  account in the name of two or more persons who are not

11  beneficiaries, it is presumed that each person must claim the

12  account in order for the claim to be approved by the

13  department. This presumption may be rebutted by showing that

14  entitlement to the account has been transferred to another

15  person or by clear and convincing evidence demonstrating that

16  the account should have been reported by the financial

17  institution as an "or" account.

18         (b)  If an unclaimed demand, savings, or checking

19  account in a financial institution is reported as an "and"

20  account and one of the persons on the account is deceased, it

21  is presumed that the account is a survivorship account. This

22  presumption may be rebutted by showing that entitlement to the

23  account has been transferred to another person or by clear and

24  convincing evidence demonstrating that the account is not a

25  survivorship account.

26         (2)  If an unclaimed demand, savings, or checking

27  account in a financial institution is reported as an "or"

28  account in the name of two or more persons who are not

29  beneficiaries, it is presumed that either person listed on the

30  account may claim the entire amount held in the account. This

31  presumption may be rebutted by showing that entitlement to the

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  account has been transferred to another person or by clear and

 2  convincing evidence demonstrating that the account should have

 3  been reported by the financial institution as an "and"

 4  account.

 5         (3)  If an unclaimed demand, savings, or checking

 6  account in a financial institution is reported in the name of

 7  two or more persons who are not beneficiaries without

 8  identifying whether the account is an "and" account or an "or"

 9  account, it is presumed that the account is an "or" account.

10  This presumption may be rebutted by showing that entitlement

11  to the account has been transferred to another person or by

12  clear and convincing evidence demonstrating that the account

13  should have been reported by the financial institution as an

14  "and" account.

15         (4)  The department shall be deemed to have made a

16  distribution in good faith if the department remits funds

17  consistent with this section.

18         Section 14.  Section 717.12404, Florida Statutes, is

19  created to read:

20         717.12404  Claims for property reported in the name of

21  a dissolved corporation.--

22         (1)  Claims for property reported in the name of a

23  dissolved corporation, the last annual report of which is not

24  available from the Department of State through the Internet,

25  shall be accompanied by a microfiche copy of the records on

26  file with the Department of State or, if the dissolved

27  corporation has not made a corporate filing with the

28  Department of State, a duly authenticated copy of the last

29  corporate filing identifying the officers and directors from

30  the appropriate authorized official of the state of

31  incorporation shall be filed with the claim.

                                  23

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (2)  Claims for property reported in the name of a

 2  dissolved corporation must be made by a majority of the then

 3  living officers and directors identified on the last corporate

 4  filing with the Department of State or, if the dissolved

 5  corporation has not made a corporate filing with the

 6  Department of State, with the appropriate authorized official

 7  of the state of incorporation. Prima facie evidence that an

 8  officer or director of the dissolved corporation is deceased

 9  must include a copy of the death certificate of the decedent

10  that has been certified as being authentic by the issuing

11  governmental agency.

12         Section 15.  Section 717.12405, Florida Statutes, is

13  created to read:

14         717.12405  Claims by estates.--An estate or any person

15  representing an estate or acting on behalf of an estate may

16  claim unclaimed property only after the heir or legatee of the

17  decedent entitled to the property has been located. Any

18  estate, or any person representing an estate or acting on

19  behalf of an estate, that receives unclaimed property before

20  the heir or legatee of the decedent entitled to the property

21  has been located, is personally liable for the unclaimed

22  property and must immediately return the full amount of the

23  unclaimed property or the value thereof to the department in

24  accordance with s. 717.1341. This section applies to unclaimed

25  property claimed prior to, on, or subsequent to the effective

26  date of this section.

27         Section 16.  Subsection (1) of section 717.1241,

28  Florida Statutes, is amended, and subsection (3) is added to

29  said section, to read:

30         717.1241  Conflicting claims.--

31  

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (1)  When ownership has been established but

 2  conflicting claims have been received by the department, the

 3  property shall be remitted as follows, notwithstanding the

 4  withdrawal of a claim to the:

 5         (a)  As between an owner and an owner's representative:

 6         1.  To the person submitting the first claim that is

 7  complete or made complete received by the department; or

 8         2.  If an owner's claim and an owner's representative's

 9  claim are received by the department on the same day and both

10  claims are complete, to the owner;

11         (b)  As between two or more owner's representatives, to

12  the owner's representative who has submitted the first claim

13  that is complete or made complete Owner if an owner's claim

14  and an owner's representative's claim are received by the

15  department on the same day; or

16         (c)  As between two or more owner's representatives

17  whose claims were complete on the same day, to the owner s

18  representative who has agreed to receive the lowest fee. If

19  two or more owner s representatives whose claims were complete

20  on the same day are charging the same lowest fee, the fees

21  shall be divided equally between the owner's representatives

22  Owner's representative who has the earliest dated contract

23  with the owner if claims by two or more owner's

24  representatives are received by the department on the same

25  day.

26         (3)  A claim is complete when entitlement to the

27  unclaimed property has been established.

28         Section 17.  Subsection (1) of section 717.1242,

29  Florida Statutes, is amended to read:

30         717.1242  Restatement of jurisdiction of the circuit

31  court sitting in probate and the department.--

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (1)  It is and has been the intent of the Legislature

 2  that, pursuant to s. 26.012(2)(b), circuit courts have

 3  jurisdiction of proceedings relating to the settlement of the

 4  estates of decedents and other jurisdiction usually pertaining

 5  to courts of probate. It is and has been the intent of the

 6  Legislature that, pursuant to s. 717.124, the department

 7  determines the merits of claims for property paid or delivered

 8  to the department under this chapter. Consistent with this

 9  legislative intent, any estate or beneficiary, as defined in

10  s. 731.201, heir of an estate seeking to obtain property paid

11  or delivered to the department under this chapter must file a

12  claim with the department as provided in s. 717.124.

13         Section 18.  Section 717.1244, Florida Statutes, is

14  created to read:

15         717.1244  Determinations of unclaimed property

16  claims.--In rendering a determination regarding the merits of

17  an unclaimed property claim, the department shall rely on the

18  applicable statutory, regulatory, common, and case law. Agency

19  statements applying the statutory, regulatory, common, and

20  case law to unclaimed property claims are not agency

21  statements subject to s. 120.56(4).

22         Section 19.  Section 717.126, Florida Statutes, is

23  amended to read:

24         717.126  Administrative hearing; burden of proof; proof

25  of entitlement; venue.--

26         (1)  Any person aggrieved by a decision of the

27  department may petition for a hearing as provided in ss.

28  120.569 and 120.57. In any proceeding for determination of a

29  claim to property paid or delivered to the department under

30  this chapter, the burden shall be upon the claimant to

31  establish entitlement to the property by a preponderance of

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  evidence. Having the same name as that reported to the

 2  department is not sufficient to prove entitlement to unclaimed

 3  property.

 4         (2)  Unless otherwise agreed by the parties, venue

 5  shall be in Tallahassee, Leon County, Florida. However, upon

 6  the request of a party, the presiding officer may, in the

 7  presiding officer's discretion, conduct the hearing at an

 8  alternative remote video location.

 9         Section 20.  Section 717.1261, Florida Statutes, is

10  created to read:

11         717.1261  Death certificates.--Any person who claims

12  entitlement to unclaimed property by means of the death of one

13  or more persons shall file a copy of the death certificate of

14  the decedent or decedents that has been certified as being

15  authentic by the issuing governmental agency.

16         Section 21.  Section 717.1262, Florida Statutes, is

17  created to read:

18         717.1262  Court documents.--Any person who claims

19  entitlement to unclaimed property by reason of a court

20  document shall file a certified copy of the court document

21  with the department.

22         Section 22.  Subsections (1) and (6) of section

23  717.1301, Florida Statutes, are amended to read:

24         717.1301  Investigations; examinations; subpoenas.--

25         (1)  The department may make investigations and

26  examinations within or outside this state of claims, reports,

27  and other records within or outside this state as it deems

28  necessary to administer and enforce the provisions of this

29  chapter. In such investigations and examinations the

30  department may administer oaths, examine witnesses, issue

31  subpoenas, and otherwise gather evidence. The department may

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  request any person who has not filed a report under s. 717.117

 2  to file a verified report stating whether or not the person is

 3  holding any unclaimed property reportable or deliverable under

 4  this chapter.

 5         (6)  If an investigation or an examination of the

 6  records of any person results in the disclosure of property

 7  reportable and deliverable under this chapter, the department

 8  may assess the cost of investigation or the examination

 9  against the holder at the rate of $100 per 8-hour day for each

10  per investigator or examiner. Such fee shall be calculated on

11  an hourly basis and shall be rounded to the nearest hour. The

12  person shall also pay the travel expense and per diem

13  subsistence allowance provided for state employees in s.

14  112.061. The person shall not be required to pay a per diem

15  fee and expenses of an examination or investigation which

16  shall consume more than 30 worker-days in any one year unless

17  such examination or investigation is due to fraudulent

18  practices of the person, in which case such person shall be

19  required to pay the entire cost regardless of time consumed.

20  The fee shall be remitted to the department within 30 days

21  after the date of the notification that the fee is due and

22  owing. Any person who fails to pay the fee within 30 days

23  after the date of the notification that the fee is due and

24  owing shall pay to the department interest at the rate of 12

25  percent per annum on such fee from the date of the

26  notification.

27         Section 23.  Subsection (3) of section 717.1311,

28  Florida Statutes, is amended to read:

29         717.1311  Retention of records.--

30         (3)  If a holder fails to maintain the records required

31  by this section and the records of the holder which are

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  available for the periods subject to this chapter are

 2  insufficient to permit the preparation of a report, the holder

 3  shall be required to report and pay such amounts as may

 4  reasonably be estimated from any available records.

 5         Section 24.  Subsection (2) of section 717.1315,

 6  Florida Statutes, is amended to read:

 7         717.1315  Retention of records by owner's

 8  representative.--

 9         (2)  An owner's representative, operating at two or

10  more places of business in this state, may maintain the books,

11  accounts, and records of all such offices at any one of such

12  offices, or at any other office maintained by such owner's

13  representative, upon the filing of a written notice with the

14  department designating in the written notice the office at

15  which such records are maintained.

16         (3)  An However, the owner's representative shall make

17  all books, accounts, and records available at a convenient

18  location in this state upon request of the department.

19         Section 25.  Subsection (2) of section 717.132, Florida

20  Statutes, is amended to read:

21         717.132  Enforcement; cease and desist orders;

22  administrative fines.--

23         (2)  In addition to any other powers conferred upon it

24  to enforce and administer the provisions of this chapter, the

25  department may issue and serve upon a person an order to cease

26  and desist and to take corrective action whenever the

27  department finds that such person is violating, has violated,

28  or is about to violate any provision of this chapter, any rule

29  or order promulgated under this chapter, or any written

30  agreement entered into with the department. For purposes of

31  this subsection, the term "corrective action" includes

                                  29

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  refunding excessive charges, requiring a person to return

 2  unclaimed property, requiring a holder to remit unclaimed

 3  property, and requiring a holder to correct a report that

 4  contains errors or omissions. Any such order shall contain a

 5  notice of rights provided by ss. 120.569 and 120.57.

 6         Section 26.  Section 717.1322, Florida Statutes, is

 7  created to read:

 8         717.1322  Grounds for disciplinary action.--

 9         (1)  The following acts are violations of this chapter

10  and constitute grounds for the disciplinary actions specified

11  in subsection (2):

12         (a)  Failure to comply with any provision of this

13  chapter, any rule or order adopted pursuant to this chapter,

14  or any written agreement entered into with the department.

15         (b)  Fraud, misrepresentation, deceit, or gross

16  negligence in any matter within the jurisdiction of the

17  department.

18         (c)  Fraudulent misrepresentation, circumvention, or

19  concealment of any matter required to be stated or furnished

20  to an owner or apparent owner pursuant to this chapter,

21  regardless of reliance by or damage to the owner or apparent

22  owner.

23         (d)  Imposition of illegal or excessive charges in any

24  unclaimed property transaction.

25         (e)  False, deceptive, or misleading solicitation or

26  advertising.

27         (f)  Failure to maintain, preserve, and keep available

28  for examination, all books, accounts, or other documents

29  required by this chapter, by any rule or order adopted

30  pursuant to this chapter, or by any agreement entered into

31  with the department.

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (g)  Refusal to permit inspection of books and records

 2  in an investigation or examination by the department or

 3  refusal to comply with a subpoena issued by the department.

 4         (h)  Criminal conduct in the course of a person's

 5  business.

 6         (i)  Failure to timely pay any fee, charge, or fine

 7  imposed or assessed pursuant to this chapter or any rule

 8  adopted under this chapter.

 9         (j)  For compensation or gain or in the expectation of

10  compensation or gain, filing a claim for unclaimed property

11  owned by another unless such person is a registered attorney

12  licensed to practice law in this state, registered

13  Florida-certified public accountant, or a registered private

14  investigator licensed under chapter 493. This subsection shall

15  not apply to a person who has been granted a durable power of

16  attorney to convey and receive all of the real and personal

17  property of the owner, is the court-appointed guardian of the

18  owner, has been employed as an attorney or qualified

19  representative to contest the department's denial of a claim,

20  or has been employed as an attorney to probate the estate of

21  the owner or an heir or legatee of the owner.

22         (k)  Commission of fraud, misrepresentation,

23  concealment, dishonest dealing by trick, scheme, or device,

24  culpable negligence, or breach of trust in any business

25  transaction in any state, nation, or territory; or aiding,

26  assisting, or conspiring with any other person engaged in any

27  such misconduct and in furtherance thereof.

28         (l)  Failing to maintain the required net worth or

29  surety bond.

30         (m)  Failing to authorize the release of records in the

31  possession of a third party after being requested to do so by

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  the department regarding a pending examination or

 2  investigation.

 3         (n)  Receiving or soliciting consideration to be paid

 4  in advance of the approval of a claim under this chapter.

 5         (2)  Upon a finding by the department that any person

 6  has committed any of the acts set forth in subsection (1), the

 7  department may enter an order:

 8         (a)  Denying a registration pursuant to this chapter

 9  based on an act that occurred before, on or after the

10  effective date of this section;

11         (b)  Revoking or suspending a registration previously

12  granted pursuant to this chapter;

13         (c)  Placing a registrant or an applicant for a

14  registration on probation for a period of time and subject to

15  such conditions as the department may specify;

16         (d)  Placing permanent restrictions or conditions upon

17  issuance or maintenance of a registration pursuant to this

18  chapter;

19         (e)  Issuing a reprimand;

20         (f)  Imposing an administrative fine not to exceed

21  $2,000 for each such act; or

22         (g)  Prohibiting any person from being an agent,

23  employee, or ultimate equitable owner of a registrant.

24         (3)  In addition to the acts specified in subsection

25  (1), the following shall be grounds for revocation,

26  suspension, or restriction of a registration previously

27  granted:

28         (a)  A material misstatement of fact in an application

29  for a registration;

30         (b)  Having a license, registration, or the equivalent,

31  to practice any profession or occupation denied, suspended,

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  revoked, or otherwise acted against by a licensing authority

 2  in any jurisdiction for fraud, dishonest dealing, or any act

 3  of moral turpitude;

 4         (c)  Pleading nolo contendere to, or having been

 5  convicted or found guilty of, a crime involving fraud,

 6  dishonest dealing, or any act of moral turpitude, regardless

 7  of whether adjudication is withheld; or

 8         (d)  Being insolvent or having a demonstrated lack of

 9  honesty or financial responsibility.

10         (4)  A person is subject to the disciplinary actions

11  specified in subsection (2) for violations of subsection (1)

12  by an agent or employee of such person.

13         (5)  A person who has designated an agent or employee

14  to act on his or her behalf is subject to the disciplinary

15  actions specified in subsection (2) for violations of

16  subsection (1) by a designated agent or designated employee.

17         Section 27.  Subsection (5) of section 717.133, Florida

18  Statutes, is amended to read:

19         717.133  Interstate agreements and cooperation; joint

20  and reciprocal actions with other states.--

21         (5)  As necessary for proper administration of this

22  chapter, the department may enter into contracts for the

23  location or collection of property subject to payment or

24  delivery to the department under this chapter.

25         Section 28.  Section 717.1331, Florida Statutes, is

26  created to read:

27         717.1331  Actions against holders.--The department may

28  initiate, or cause to be initiated, an action against a holder

29  to recover unclaimed property. If the department prevails in a

30  civil or administrative action to recover unclaimed property

31  initiated by or on behalf of the department, the holder shall

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  be ordered to pay the department reasonable costs and

 2  attorney's fees.

 3         Section 29.  Section 717.1332, Florida Statutes, is

 4  created to read:

 5         717.1332  Services for auditing or examining holders of

 6  unclaimed property.--The department may enter into contracts

 7  to audit or examine holders of unclaimed property. Contingency

 8  fee contracts under this section are not subject to the

 9  competitive solicitation requirements of s. 287.057 provided

10  the department enters into contingency fee contracts for the

11  same fee with two or more providers.

12         Section 30.  Section 717.1333, Florida Statutes, is

13  created to read:

14         717.1333  Evidence; audit reports; examiner's

15  worksheets, investigative reports, other related documents,

16  and estimations.--

17         (1)  In any proceeding under s. 120.569 or s. 120.57 in

18  which an auditor, examiner, or investigator acting under

19  authority of this chapter is available for cross-examination,

20  any official written report, worksheet, or other related

21  paper, or copy thereof, compiled, prepared, drafted, or

22  otherwise made or received by the auditor, examiner, or

23  investigator, after being duly authenticated by the auditor,

24  examiner, or investigator, may be admitted as competent

25  evidence upon the oath of the auditor, examiner, or

26  investigator that the report, worksheet, or related paper was

27  prepared or received as a result of an audit, examination, or

28  investigation of the books and records of the person audited,

29  examined, or investigated, or the agent thereof.

30         (2)  If the records of the holder that are available

31  for the periods subject to this chapter are insufficient to

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  permit the preparation of a report of the unclaimed property

 2  due and owing by a holder, the amount due may be reasonably

 3  estimated.

 4         Section 31.  Subsections (5) is added to section

 5  717.134, Florida Statutes, to read:

 6         717.134  Penalties and interest.--

 7         (5)  The department may impose and collect a penalty of

 8  $500 per day up to a maximum of $5,000 and 25 percent of the

 9  value of property willfully not reported with all of the

10  information required by this chapter. Upon a holder's showing

11  of good cause, the department may waive the penalty or any

12  portion thereof. If the holder acted in good faith and without

13  negligence, the department shall waive the penalty provided

14  herein.

15         Section 32.  Section 717.1341, Florida Statutes, is

16  created to read:

17         717.1341  Invalid claims, recovery of property,

18  interest and penalties.--

19         (1)(a)  No person shall receive unclaimed property that

20  the person is not entitled to receive. Any person who

21  receives, or assists another person to receive, unclaimed

22  property that the person is not entitled to receive is

23  strictly, jointly, personally, and severally liable for the

24  unclaimed property and shall immediately return the property,

25  or the reasonable value of the property if the property has

26  been damaged or disposed of, to the department plus interest

27  at a rate of 12 percent per annum of the value of the

28  property. Assisting another person to receive unclaimed

29  property includes executing a claim form on the person's

30  behalf.

31  

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (b)1.  In the case of stocks or bonds which have been

 2  sold, the proceeds from the sale shall be returned to the

 3  department plus any dividends or interest received thereon

 4  plus an amount equal to the brokerage fee plus interest at a

 5  rate of 12 percent per annum on the proceeds from the sale of

 6  the stocks or bonds, the dividends or interest received, and

 7  the brokerage fee.

 8         2.  In the case of stocks or bonds which have not been

 9  sold, the stocks or bonds and any dividends or interest

10  received thereon shall be returned to the department, together

11  with interest on the dividends or interest received, at a rate

12  of 12 percent per annum of the value of the property.

13         (2)  The department may maintain a civil or

14  administrative action:

15         (a)  To recover unclaimed property that was paid or

16  remitted to a person who was not entitled to the unclaimed

17  property;

18         (b)  Against a person who assists another person in

19  receiving, or attempting to receive, unclaimed property that

20  the person is not entitled to receive; or

21         (c)  Against a person who attempts to receive unclaimed

22  property that the person is not entitled to receive.

23         (3)  If the department prevails in any proceeding under

24  subsection (2), a fine not to exceed three times the value of

25  the property received or sought to be received may be imposed

26  on any person who knowingly, or with reckless disregard or

27  deliberate ignorance of the truth, violated this section. If

28  the department prevails in a civil or administrative

29  proceeding under subsection (2), the person who violated

30  subsection (1) shall be ordered to pay the department

31  reasonable costs and attorney's fees.

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (4)  No person shall knowingly file, knowingly conspire

 2  to file, or knowingly assist in filing, a claim for unclaimed

 3  property the person is not entitled to receive. Any person who

 4  violates this subsection regarding unclaimed property of an

 5  aggregate value:

 6         (a)  Greater than $50,000, is guilty of a felony of the

 7  first degree, punishable as provided in s. 775.082, s.

 8  775.083, or s. 775.084;

 9         (b)  Greater than $10,000 up to $50,000, is guilty of a

10  felony of the second degree, punishable as provided in s.

11  775.082, s. 775.083, or s. 775.084;

12         (c)  Greater than $250 up to $10,000, is guilty of a

13  felony of the third degree, punishable as provided in s.

14  775.082, s. 775.083, or s. 775.084;

15         (d)  Greater than $50 up to $250, is guilty of a

16  misdemeanor of the first degree, punishable as provided in s.

17  775.082 or s. 775.083; or

18         (e)  Up to $50, is guilty of a misdemeanor of the

19  second degree, punishable as provided in s. 775.082 or s.

20  775.083.

21         Section 33.  Section 717.135, Florida Statutes, is

22  amended to read:

23         717.135  Agreement to recover locate reported property

24  in the custody of the department.--

25         (1)  All agreements between a claimant's an owner's

26  representative and a claimant an owner for compensation to

27  recover or assist in the recovery of property reported to the

28  department under s. 717.117 shall be in 11-point type or

29  greater and either:

30         (a)  Limit the fees and costs for services for each

31  owner contract to $25 for all contracts relating to unclaimed

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  property with a dollar value below $250. For all contracts

 2  relating to unclaimed property with a dollar value of $250 and

 3  above, fees shall be limited to 20 15 percent per unclaimed on

 4  property account held by the department for 24 months or less

 5  and 25 percent on property held by the department for more

 6  than 24 months. Fees and costs for cash accounts shall be

 7  based on the value of the property at the time the agreement

 8  for recovery is signed by the claimant apparent owner. Fees

 9  and costs for accounts containing securities or other

10  intangible ownership interests, which securities or interests

11  are not converted to cash, shall be based on the purchase

12  price of the security as quoted on a national exchange or

13  other market on which the property ownership interest is

14  regularly traded at the time the securities or other ownership

15  interest is remitted to the claimant owner or the claimant's

16  owner's representative. Fees and costs for tangible property

17  or safe-deposit box accounts shall be based on the value of

18  the tangible property or contents of the safe-deposit box at

19  the time the ownership interest is transferred or remitted to

20  the claimant owner or the owner's representative; or

21         (b)  Disclose, on such form as the department shall

22  prescribe by rule, that the property is held by the Bureau of

23  Unclaimed Property of the Department of Financial Services

24  pursuant to this chapter, the person or name of the entity

25  that held the property prior to the property becoming

26  unclaimed, the date of the holder's last contact with the

27  owner, if known, and the approximate value of the property,

28  and identify which of the following categories of unclaimed

29  property the owner's representative is seeking to recover, as

30  reported by the holder:

31         1.  Cash accounts.

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         2.  Stale dated checks.

 2         3.  Life insurance or annuity contract assets.

 3         4.  Utility deposits.

 4         5.  Securities or other interests in business

 5  associations.

 6         6.  Wages.

 7         7.  Accounts receivable.

 8         8.  Contents of safe-deposit boxes.

 9  

10  Such disclosure shall be on a page signed and dated by the

11  person asserting entitlement to the unclaimed property

12  However, this section shall not apply to contracts made in

13  connection with guardianship proceedings or the probate of an

14  estate.

15         (2)(a)  Agreements for recovery of cash accounts shall

16  state the value of the unclaimed property, the unclaimed

17  property account number, and the percentage dollar value of

18  the unclaimed property account to be paid to the claimant

19  owner and shall also state the percentage dollar value of

20  compensation to be paid to the claimant's owner's

21  representative.

22         (b)  Agreements for recovery of accounts containing

23  securities, safe-deposit box accounts, other intangible or

24  tangible ownership interests, or other types of accounts,

25  except cash accounts, shall state the unclaimed property

26  account number, the number of shares of stock, if applicable,

27  the approximate value of the unclaimed property, and the

28  percentage value of compensation to be paid to the claimant's

29  owner's representative.

30         (c)  All disclosures and agreements shall include the

31  name, address, and professional license number of the

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  claimant's owner's representative, and, if available, the

 2  taxpayer identification number or social security number,

 3  address, and telephone number of the claimant owner. The

 4  original of all such disclosures and agreements to pay

 5  compensation shall be signed and dated by the claimant owner

 6  of the property and shall be filed by the owner's

 7  representative with the claim form.

 8         (d)  All agreements between a claimant's representative

 9  and a claimant, who is a natural person, trust, or a dissolved

10  corporation, for compensation to recover or assist in the

11  recovery of property reported to the department under s.

12  717.117 must use the following form on 8 and 1/2 inch by 11

13  inch paper with all of the text on one side of the paper and

14  with the other side of the paper left blank. The agreement

15  must be accurately completed and executed. No other writing or

16  information shall be printed on the agreement. The title of

17  the agreement shall be in bold 14-point type and underlined.

18  The rest of the agreement shall be in 10-point type or

19  greater. All unclaimed property accounts claimed must be

20  identified on the agreement. The agreement must state:

21                        RECOVERY AGREEMENT

22  $__________= APPROXIMATE DOLLAR VALUE OF UNCLAIMED PROPERTY

23  NUMBER OF SHARES OF STOCK TO BE RECOVERED (IF

24  APPLICABLE):________

25  PROPERTY ACCOUNT NUMBERS:____________________

26  __________PERCENT TO BE PAID AS COMPENSATION TO THE CLAIMANT'S

27  REPRESENTATIVE

28  $__________= NET AMOUNT TO BE PAID TO CLAIMANT

29  $__________= AMOUNT TO BE PAID TO CLAIMANT'S REPRESENTATIVE

30  

31  

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  THIS AGREEMENT is between:

 2  _____________________________________________________________

 3                     (hereinafter, CLAIMANT)

 4  and__________________________________________________________

 5             (hereinafter, CLAIMANT'S REPRESENTATIVE)

 6  who agree to the following:

 7         (1)  As consideration for the research efforts in

 8  locating and identifying assets due to the CLAIMANT and for

 9  assistance in procuring payment of the assets to the CLAIMANT,

10  the CLAIMANT authorizes the government to pay to the

11  CLAIMANT'S REPRESENTATIVE a fee of__________percent of all

12  assets recovered. NO FEES ARE TO BE PAID IN ADVANCE.

13         (2)  I have read this agreement and in consideration

14  thereof, do hereby grant the CLAIMANT'S REPRESENTATIVE a

15  limited power of attorney to demand, collect, recover and

16  receive the above compensation from the government in

17  accordance with this agreement.

18         (3)  IT IS HEREBY ACKNOWLEDGED BY ALL PARTIES TO THIS

19  AGREEMENT THAT UNLESS THESE ASSETS ARE RECOVERED, NO FEES, NO

20  COSTS OR CHARGES ARE DUE TO THE CLAIMANT'S REPRESENTATIVE, ITS

21  AGENTS OR ATTORNEYS, AND THIS AGREEMENT WILL BECOME NULL AND

22  VOID.

23  Original Signature of CLAIMANT:______________________________

24  DATE:__________________________

25  CLAIMANT'S Social Security Number or FEID number:____________

26  Make the CLAIMANT'S check payable to:________________________

27  Mail check to this address:__________________________________

28  _____________________________________________________________

29  The CLAIMANT'S telephone number is:__________________________

30  Original Signature of CLAIMANT'S REPRESENTATIVE:_____________

31  FEID Number of CLAIMANT'S REPRESENTATIVE:____________________

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  DATE:________________________

 2  Address of CLAIMANT'S REPRESENTATIVE:________________________

 3  _____________________________________________________________

 4  Telephone number of CLAIMANT'S REPRESENTATIVE:_______________

 5  Professional license number of CLAIMANT'S REPRESENTATIVE:

 6  ____________________

 7         (3)  As used in this section, "claimant" means the

 8  person on whose behalf a claim is filed.

 9         (4)  This section does not supersede the licensing

10  requirements of chapter 493.

11         Section 34.  Section 717.1351, Florida Statutes, is

12  created to read:

13         717.1351  Acquisition of unclaimed property.--

14         (1)  A person desiring to acquire ownership or

15  entitlement of property reported to the department under s.

16  717.117 must be an attorney licensed to practice law in this

17  state, a licensed Florida-certified public accountant, a

18  private investigator licensed under chapter 493, or an

19  employer of a licensed private investigator which employer

20  possesses a Class "A" license under chapter 493 and must be

21  registered with the department under this chapter.

22         (2)  All contracts to acquire ownership or entitlement

23  of unclaimed property from the person or persons entitled to

24  the unclaimed property must be in 10-point type or greater and

25  must:

26         (a)  Have a purchase price that discounts the value of

27  the unclaimed property at the time the agreement is executed

28  by the seller at no greater than 20 percent per account held

29  by the department; or

30         (b)  Disclose, on such form as the department shall

31  prescribe by rule, that the property is held by the Bureau of

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  Unclaimed Property of the Department of Financial Services

 2  pursuant to this chapter, the person or name of the entity

 3  that held the property prior to the property becoming

 4  unclaimed, the date of the holder's last contact with the

 5  owner, if known, and the approximate value of the property,

 6  and identify which of the following categories of unclaimed

 7  property buyer is seeking to purchase as reported by the

 8  holder:

 9         1.  Cash accounts.

10         2.  Stale dated checks.

11         3.  Life insurance or annuity contract assets.

12         4.  Utility deposits.

13         5. Securities or other interests in business

14  associations.

15         6.  Wages.

16         7.  Accounts receivable.

17         8.  Contents of safe-deposit boxes.

18         Such disclosure shall be on a page signed and dated by

19  the seller of the unclaimed property.

20         (3)  The originals of all such disclosures and

21  agreements to transfer ownership or entitlement to unclaimed

22  property shall be signed and dated by the seller and shall be

23  filed with the claim form.

24         (4)  Any contract to acquire ownership or entitlement

25  of unclaimed property from the person or persons entitled to

26  the unclaimed property must provide for the purchase price to

27  be remitted to the seller or sellers within 10 days after the

28  execution of the contract by the seller or sellers. The

29  contract must specify the unclaimed property account number,

30  the value of the unclaimed property account, and the number of

31  

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  shares of stock, if applicable. Proof of payment by canceled

 2  check must be filed with the department with the claim.

 3         (5)  All agreements to purchase unclaimed property from

 4  an owner, who is a natural person, a trust, or a dissolved

 5  corporation must use the following form on 8 and 1/2 inch by

 6  11 inch paper with all of the text on one side of the paper

 7  and with the other side of the paper left blank. The agreement

 8  must be accurately completed and executed. No other writing or

 9  information shall be printed on the agreement. The title of

10  the agreement shall be in bold 14-point type and underlined.

11  The rest of the agreement shall be in 10-point type or

12  greater. All unclaimed property accounts to be purchased must

13  be identified on the agreement. The agreement must state:

14                        PURCHASE AGREEMENT

15  $__________= APPROXIMATE DOLLAR VALUE OF THE UNCLAIMED

16  PROPERTY

17  PROPERTY ACCOUNT NUMBER(S):____________________

18  NUMBER OF SHARES OF STOCK TO BE RECOVERED (IF

19  APPLICABLE):________

20  __________PERCENT OF UNCLAIMED PROPERTY TO BE PAID TO THE

21  BUYER

22  $__________= NET AMOUNT TO BE PAID TO OWNER

23  $__________= AMOUNT TO BE PAID TO BUYER

24  THIS AGREEMENT is between:

25  _____________________________________________________________

26                       (hereinafter, OWNER)

27  and_________________________________________________________ 

28                       (hereinafter, BUYER)

29  who agree that the OWNER transfers to the BUYER for a purchase

30  price of $________all rights to the above identified unclaimed

31  property accounts.

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  Original Signature of OWNER:____________________DATE:________

 2  OWNER'S Social Security Number or FEID number:_______________

 3  Within 10 days after the execution of this Purchase Agreement

 4  by the Owner, Buyer shall remit the OWNER'S check payable to:

 5  _____________________________________________________________

 6  Mail check to this address:__________________________________

 7  _____________________________________________________________

 8  _____________________________________________________________

 9  The OWNER'S telephone number is:_____________________________

10  Original Signature of BUYER:_________________________________

11  FEID Number of BUYER:___________________________DATE:________

12  Address of BUYER:____________________________________________

13  _____________________________________________________________

14  Telephone number of BUYER: __________________________________

15  Professional license number of BUYER:________________________

16         (6)  This section does not supersede the licensing

17  requirements of chapter 493.

18         Section 35.  Section 717.1400, Florida Statutes, is

19  created to read:

20         717.1400  Registration.--

21         (1)  A private investigator holding a Class " C"

22  individual license under chapter 493 must register with the

23  department on such form as the department shall prescribe by

24  rule, and verified by the applicant. To register with the

25  department, a private investigator must provide:

26         (a)  A legible copy of the applicant's Class "A"

27  business license under chapter 493 or that of the applicant's

28  employer which holds a Class "A" business license under

29  chapter 493.

30         (b)  A legible copy of the applicant's Class "C"

31  individual license issued under chapter 493.

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (c)  The applicant's business address and telephone

 2  number.

 3         (d)  The names of agents or employees, if any, who are

 4  designated to act on behalf of the private investigator

 5  together with a legible copy of their photo-identification

 6  issued by an agency of the United States, or a state, or a

 7  political subdivision thereof.

 8         (e)  Sufficient information to enable the department to

 9  disburse funds by electronic funds transfer.

10         (f)  The private investigator's applicable tax

11  identification number if the applicant desires to have the

12  applicant's fees sent directly to the private investigator, or

13  the private investigator's employer which holds a Class "A"

14  business license under chapter 493.

15         (g)  One of the following:

16         1.  Audited financial statements, which documents

17  disclose that the applicant or the employer of the applicant,

18  which employer holds a Class "A" business license under

19  chapter 493, has a bona fide and verifiable net worth,

20  pursuant to generally accepted accounting principles, of at

21  least $100,000, which must be continuously maintained as a

22  condition of registration. Assets considered as part of the

23  net worth must be owned solely by the applicant or the

24  applicant's employer which holds a Class "A" business license

25  under chapter 493 and must not be title 11 U.S.C. s. 522

26  exempt property; or

27         2.  A surety bond purchased by the employer which holds

28  a Class "A" business license under chapter 493, on such form

29  as the department shall prescribe by rule, in the amount of

30  $100,000, payable to the state and conditioned upon compliance

31  with chapter 717, which inures to the department and which

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  must be continuously maintained thereafter in full force as a

 2  condition of registration.

 3  

 4  The audited financial statement or bond must be provided to

 5  the department on an annual basis at a time to be determined

 6  by the department by rule. Any registration made under this

 7  section is void if the person fails to maintain the required

 8  net worth of $100,000 or the surety bond in the amount of

 9  $100,000.

10         (2)  A Florida-certified public accountant must

11  register with the department on such form as the department

12  shall prescribe by rule, and must be verified by the

13  applicant. To register with the department a Florida-certified

14  public accountant must provide:

15         (a)  The applicant's Florida Board of Accountancy

16  number.

17         (b)  A legible copy of the applicant's current driver's

18  license showing the full name and current address of such

19  person. If a current driver's license is not available,

20  another form of identification showing full name and current

21  address of such person or persons shall be filed with the

22  department.

23         (c)  The applicant's business address and telephone

24  number.

25         (d)  The names of agents or employees, if any, who are

26  designated to act on behalf of the Florida-certified public

27  accountant together with a legible copy of their

28  photo-identification issued by an agency of the United States,

29  or a state, or a political subdivision thereof.

30         (e)  Sufficient information to enable the department to

31  disburse funds by electronic funds transfer.

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (f)  The Florida-certified public accountant's

 2  applicable tax identification number if the applicant desires

 3  to have the applicant's fees sent directly to such accountant,

 4  or such accountant's public accounting firm employer.

 5         (g)  One of the following:

 6         1.  Audited financial statements, which documents

 7  disclose that the applicant or the public accounting firm

 8  employer of the applicant has a bona fide and verifiable net

 9  worth, pursuant to generally accepted accounting principles,

10  of at least $100,000, which must be continuously maintained as

11  a condition of registration. Assets considered as part of the

12  net worth must be owned solely by the applicant or the

13  applicant's public accounting firm employer and must not be

14  title 11 U.S.C. s. 522 exempt property; or

15         2.  A surety bond purchased by the applicant's public

16  accounting firm employer, on such form as the department shall

17  prescribe by rule, in the amount of $100,000, payable to the

18  state and conditioned upon compliance with chapter 717, which

19  inures to the department and which must be continuously

20  maintained thereafter in full force as a condition of

21  registration.

22  

23  The audited financial statement or bond must be provided to

24  the department on an annual basis at a time to be determined

25  by the department by rule. Any registration made under this

26  section is void if the person fails to maintain the required

27  net worth of $100,000 or the surety bond in the amount of

28  $100,000.

29         (3)  An attorney licensed to practice in this state

30  must register with the department on such form as the

31  department shall prescribe by rule, and must be verified by

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  the applicant. To register with the department, such attorney

 2  must provide:

 3         (a)  The applicant's Florida Bar number.

 4         (b)  A legible copy of the applicant's current driver's

 5  license showing the full name and current address of such

 6  person. If a current driver's license is not available,

 7  another form of identification showing full name and current

 8  address of such person or persons shall be filed with the

 9  department.

10         (c)  The applicant's business address and telephone

11  number.

12         (d)  The names of agents or employees, if any, who are

13  designated to act on behalf of the attorney, together with a

14  legible copy of their photo-identification issued by an agency

15  of the United States, or a state, or a political subdivision

16  thereof.

17         (e)  Sufficient information to enable the department to

18  disburse funds by electronic funds transfer.

19         (f)  The attorney's applicable tax identification

20  number if the applicant desires to have the applicant's fees

21  sent directly to such lawyer, or to such lawyer's law firm

22  employer.

23         (g)  One of the following:

24         1.  Audited financial statements, which documents

25  disclose that the applicant or the law firm employer of the

26  applicant has a bona fide and verifiable net worth, pursuant

27  to generally accepted accounting principles, of at least

28  $100,000, which must be continuously maintained as a condition

29  of registration.  Assets considered as part of the net worth

30  must be owned solely by the applicant or the applicant's law

31  

                                  49

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  firm employer and must not be title 11 U.S.C. s. 522 exempt

 2  property; or

 3         2.  A surety bond purchased by the applicant's law firm

 4  employer, on such form as the department shall prescribe by

 5  rule, in the amount of $100,000, payable to the state and

 6  conditioned upon compliance with chapter 717, which inures to

 7  the department and which must be continuously maintained

 8  thereafter in full force as a condition of registration.

 9  

10  The audited financial statement or bond must be provided to

11  the department on an annual basis at a time to be determined

12  by the department by rule. Any registration made under this

13  section is void if the person fails to maintain the required

14  net worth of $100,000 or the surety bond in the amount of

15  $100,000.

16         (4)  Information and documents already on file with the

17  department prior to the effective date of this provision need

18  not be resubmitted in order to complete the registration.

19         (5)  If a material change in the status of a

20  registration occurs, a registrant must within 15 days provide

21  the department with the updated documentation and information

22  in writing. Material changes include, but are not limited to,

23  a designated agent or employee ceasing to act on behalf of the

24  designating person, a surrender, suspension, or revocation of

25  a license, or a license renewal.

26         (a)  If a designated agent or employee ceases to act on

27  behalf of the person who has designated the agent or employee

28  to act on such person's behalf, the designating person must

29  within 15 days inform the Bureau of Unclaimed Property in

30  writing of the termination of agency or employment.

31  

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (b)  If a registrant surrenders the registrant's

 2  license or the license is suspended or revoked, the registrant

 3  must within 15 days inform the bureau in writing of the

 4  surrender, suspension, or revocation.

 5         (c)  If a private investigator's Class "C" individual

 6  license under chapter 493, or if a private investigator's

 7  employer's Class "A" business license under chapter 493, is

 8  renewed, the private investigator must provide a copy of the

 9  renewed license to the department within 30 days after the

10  receipt of the renewed license by the private investigator or

11  the private investigator's employer.

12         (6)  It is a ground for denial of registration if the

13  applicant has committed any violation specified in ss.

14  717.001-717.1401 or has pending against her or him any

15  criminal prosecution or administrative enforcement action, in

16  any jurisdiction, which alleges fraud, dishonest dealing, or

17  any other act of moral turpitude.

18         (7)  Any registration made under this section by any

19  person based upon the presentation by such person of

20  inaccurate or false information material to such registration

21  is void. The registration shall be reinstated once the

22  department has been provided the correct information in

23  writing.

24         (8)  Any registration made under this section is void

25  if the person fails to timely report a material change in the

26  status of a registration to the department. The registration

27  shall be reinstated after the department has been notified in

28  writing of the material change.

29         (9)  Any registration made under this section is void

30  if the person has had a license, registration, or the

31  equivalent, to practice any profession or occupation denied,

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  suspended, revoked, or otherwise acted against by a licensing

 2  authority in any jurisdiction for theft, fraud,

 3  misrepresentation, dishonest dealing, or any act of moral

 4  turpitude, unless the effect of the suspension or revocation

 5  has been stayed.

 6         (10)  Any registration made under this section is void

 7  if the person has plead nolo contendere to, or has been

 8  convicted or found guilty of, a crime involving theft, fraud,

 9  misrepresentation, dishonest dealing, or any act of moral

10  turpitude, regardless of whether adjudication is withheld.

11         (11)  No registrant or applicant for registration may

12  have a name that might lead another person to conclude that

13  the registrant is affiliated or associated with the United

14  States or any agency thereof, or a state or an agency or

15  political subdivision of a state. The department shall deny an

16  application for registration or revoke a registration if the

17  applicant or registrant has a name that might lead another

18  person to conclude that the applicant or registrant is

19  affiliated or associated with the United States or an agency

20  thereof, or a state or an agency or political subdivision of a

21  state. Names that might lead another person to conclude that

22  the applicant or registrant is affiliated or associated with

23  the United States or an agency thereof, or a state or an

24  agency or political subdivision of a state, include, but are

25  not limited to, the use of the words United States, Florida,

26  state, bureau, division, department, or government.

27         (12)(a)  The department shall deny an application of

28  any person who assisted another person to receive unclaimed

29  property that the person was not entitled to receive in the

30  aggregate amount of greater than $50,000 during a 5-year

31  period or if the applicant has an agent, employee, or ultimate

                                  52

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  equitable owner who assisted another person to receive

 2  unclaimed property that the person was not entitled to receive

 3  in the aggregate amount of greater than $50,000 during a

 4  5-year period. Assisting another person to receive unclaimed

 5  property includes executing a claim form on the person's

 6  behalf.

 7         (b)  This subsection does not apply if the applicant

 8  has remitted to the department all funds paid by the

 9  department when the applicant, or an agent, employee, or

10  ultimate equitable owner thereof, assisted another person to

11  receive unclaimed property that the person was not entitled to

12  receive.

13         (13)  Any person having a registration file with the

14  department as of the effective date of this act may continue

15  to file claims prior to either the issuance of a registration

16  by the department or proposed agency action to deny the

17  application.

18         Section 36.  Subsection (2) of section 212.02, Florida

19  Statutes, is amended to read:

20         212.02  Definitions.--The following terms and phrases

21  when used in this chapter have the meanings ascribed to them

22  in this section, except where the context clearly indicates a

23  different meaning:

24         (2)  "Business" means any activity engaged in by any

25  person, or caused to be engaged in by him or her, with the

26  object of private or public gain, benefit, or advantage,

27  either direct or indirect. Except for the sales of any

28  aircraft, boat, mobile home, or motor vehicle, the term

29  "business" shall not be construed in this chapter to include

30  occasional or isolated sales or transactions involving

31  tangible personal property or services by a person who does

                                  53

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  not hold himself or herself out as engaged in business or

 2  sales of unclaimed tangible personal property under s.

 3  717.122, but includes other charges for the sale or rental of

 4  tangible personal property, sales of services taxable under

 5  this chapter, sales of or charges of admission, communication

 6  services, all rentals and leases of living quarters, other

 7  than low-rent housing operated under chapter 421, sleeping or

 8  housekeeping accommodations in hotels, apartment houses,

 9  roominghouses, tourist or trailer camps, and all rentals of or

10  licenses in real property, other than low-rent housing

11  operated under chapter 421, all leases or rentals of or

12  licenses in parking lots or garages for motor vehicles,

13  docking or storage spaces for boats in boat docks or marinas

14  as defined in this chapter and made subject to a tax imposed

15  by this chapter. The term "business" shall not be construed in

16  this chapter to include the leasing, subleasing, or licensing

17  of real property by one corporation to another if all of the

18  stock of both such corporations is owned, directly or through

19  one or more wholly owned subsidiaries, by a common parent

20  corporation; the property was in use prior to July 1, 1989,

21  title to the property was transferred after July 1, 1988, and

22  before July 1, 1989, between members of an affiliated group,

23  as defined in s. 1504(a) of the Internal Revenue Code of 1986,

24  which group included both such corporations and there is no

25  substantial change in the use of the property following the

26  transfer of title; the leasing, subleasing, or licensing of

27  the property was required by an unrelated lender as a

28  condition of providing financing to one or more members of the

29  affiliated group; and the corporation to which the property is

30  leased, subleased, or licensed had sales subject to the tax

31  imposed by this chapter of not less than $667 million during

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1  the most recent 12-month period ended June 30. Any tax on such

 2  sales, charges, rentals, admissions, or other transactions

 3  made subject to the tax imposed by this chapter shall be

 4  collected by the state, county, municipality, any political

 5  subdivision, agency, bureau, or department, or other state or

 6  local governmental instrumentality in the same manner as other

 7  dealers, unless specifically exempted by this chapter.

 8         Section 37.  Subsection (4) of section 322.142, Florida

 9  Statutes, is amended to read:

10         322.142  Color photographic or digital imaged

11  licenses.--

12         (4)  The department may maintain a film negative or

13  print file. The department shall maintain a record of the

14  digital image and signature of the licensees, together with

15  other data required by the department for identification and

16  retrieval. Reproductions from the file or digital record shall

17  be made and issued only for departmental administrative

18  purposes, for the issuance of duplicate licenses, in response

19  to law enforcement agency requests, or to the Department of

20  Revenue pursuant to an interagency agreement to facilitate

21  service of process in Title IV-D cases, or to the Department

22  of Financial Services pursuant to an interagency agreement to

23  facilitate the location of owners of unclaimed property, the

24  validation of unclaimed property claims, and the

25  identification of fraudulent or false claims, and are exempt

26  from the provisions of s. 119.07(1).

27         Section 38.  Paragraph (l) is added to subsection (4)

28  of section 395.3025, Florida Statutes, and subsection (10) of

29  that section is amended, to read:

30         395.3025  Patient and personnel records; copies;

31  examination.--

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    Florida Senate - 2004                                  SB 2288
    4-906A-04                                          See HB 1039




 1         (4)  Patient records are confidential and must not be

 2  disclosed without the consent of the person to whom they

 3  pertain, but appropriate disclosure may be made without such

 4  consent to:

 5         (l)  The Department of Financial Services, or an agent,

 6  employee, or independent contractor of the department who is

 7  auditing for unclaimed property pursuant to chapter 717.

 8         (10)  The home addresses, telephone numbers, social

 9  security numbers, and photographs of employees of any licensed

10  facility who provide direct patient care or security services;

11  the home addresses, telephone numbers, social security

12  numbers, photographs, and places of employment of the spouses

13  and children of such persons; and the names and locations of

14  schools and day care facilities attended by the children of

15  such persons are confidential and exempt from s. 119.07(1) and

16  s. 24(a), Art. I of the State Constitution. However, any state

17  or federal agency that is authorized to have access to such

18  information by any provision of law shall be granted such

19  access in the furtherance of its statutory duties,

20  notwithstanding the provisions of this subsection. The

21  Department of Financial Services, or an agent, employee, or

22  independent contractor of the department who is auditing for

23  unclaimed property pursuant to chapter 717, shall be granted

24  access to the name, address, and social security number of any

25  employee owed unclaimed property. This subsection is subject

26  to the Open Government Sunset Review Act of 1995 in accordance

27  with s. 119.15, and shall stand repealed on October 2, 2004,

28  unless reviewed and saved from repeal through reenactment by

29  the Legislature.

30         Section 39.  This act shall take effect October 1,

31  2004.

                                  56

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