January 19, 2020
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The Florida Statutes

The 2001 Florida Statutes

Title XL
Real And Personal Property
Chapter 717
Disposition Of Unclaimed Property
View Entire Chapter
Section 717.123, Florida Statutes 2001

717.123  Deposit of funds.--

(1)  All funds received under this chapter, including the proceeds from the sale of unclaimed property under s. 717.122, shall forthwith be deposited by the department in the Unclaimed Property Trust Fund. The department shall retain, from funds received under this chapter, an amount not exceeding $8 million from which the department shall make prompt payment of claims allowed by the department and shall pay the costs incurred by the department in administering and enforcing this chapter. All remaining funds received by the department under this chapter shall be deposited by the department into the State School Fund.

(2)  The department shall record the name and last known address of each person appearing from the holder's reports to be entitled to the unclaimed property in the total amounts of $5 or greater; the name and the last known address of each insured person or annuitant; and with respect to each policy or contract listed in the report of an insurance corporation, its number, the name of the corporation, and the amount due.

History.--s. 24, ch. 87-105; s. 13, ch. 96-301; s. 22, ch. 2001-36.

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