CHAPTER 717

717.001 Short title. This chapter may be cited as the “Florida Disposition of Abandoned Personal Property Act.” History. — s. 1, ch. 87-105; s. 34, ch. 2026-174. 717.101 Definitions. As used in this chapter, unless the context otherwise requires: (1) “Abandoned property” means property held by a holder for which all of the following are true: (a) The apparent owner has shown no activity or indication of interest for the duration of the applicable dormancy period established under this chapter. (b) The holder has complied with the due diligence requirements set forth in this chapter, including the issuance of notice to the apparent owner, and has received no response or contact sufficient to demonstrate continued interest in the property. For purposes of this chapter, property is presumed abandoned upon expiration of the applicable dormancy period established under this chapter. Once the dormancy period has expired, the holder must comply with the due diligence requirements set forth in s. 717.117. If the holder does not receive response or contact sufficient to demonstrate continued interest in the property after completion of its due diligence efforts, the property is deemed abandoned and subject to reporting and remittance to the department for custodial holding on behalf of the owner. (2) “Abandoned Property Purchase Agreement” means the form adopted by the department pursuant to s. 717.135 which must be used, without modification or amendment, by a claimant representative to purchase abandoned property from an owner. (3) “Abandoned Property Recovery Agreement” means the form adopted by the department pursuant to s. 717.135 which must be used, without modification or amendment, by a claimant representative to obtain consent and authority to recover abandoned property on behalf of a person. (4) “Aggregate” means the amounts reported for owners of abandoned property of less than $10 or where there is no name for the individual or entity listed on the holder’s records, regardless of the amount to be reported. (5) “Apparent owner” means the person whose name appears on the records of the holder as the owner of the abandoned property, but whose status as the true owner entitled to receive the property may be subject to change due to the passage of time or changes in circumstances. (6) “Audit” means an action or proceeding to examine and verify a person’s records, books, accounts, and other documents to ascertain and determine compliance with this chapter. (7) “Audit agent” means a person with whom the department enters into a contract to conduct an audit or examination. The term includes an independent contractor of the person and each individual participating in the audit on behalf of the person or contractor. (8) “Authorized representative” means a person or an entity legally empowered to act on behalf of the apparent owner or his or her estate, including, but not limited to, an agent, a fiduciary, a personal representative, a trustee, a legal heir, a guardian, or any other individual or entity authorized by law or agreement. (9) “Banking or financial organization” means any and all banks, trust companies, private bankers, savings banks, industrial banks, safe-deposit companies, savings and loan associations, credit unions, savings associations, banking organizations, international bank agencies, cooperative banks, building and loan associations, and investment companies in this state, organized under or subject to the laws of this state or of the United States, including entities organized under 12 U.S.C. s. 611, but does not include federal reserve banks. The term also includes any corporation, business association, or other organization that: (a) Is a wholly or partially owned subsidiary of any banking, banking corporation, or bank holding company that performs any or all of the functions of a banking organization; or (b) Performs functions pursuant to the terms of a contract with any banking organization. (10) “Business association” means any for-profit or nonprofit corporation other than a public corporation; joint stock company; investment company; unincorporated association or association of two or more individuals for business purposes, whether or not for profit; partnership; joint venture; limited liability company; sole proprietorship; business trust; trust company; land bank; safe-deposit company; safekeeping depository; banking or financial organization; insurance company; federally chartered entity; utility company; transfer agent; or other business entity, whether or not for profit. (11) “Claimant” means the person on whose behalf a claim is filed. (12) “Claimant representative” means an attorney who is a member in good standing with The Florida Bar, a certified public accountant licensed in this state, or a private investigator licensed in this state who is registered with the department and authorized to file claims on behalf of persons with the department. The term does not include a person acting in a representative or fiduciary capacity, such as a personal representative, guardian, trustee, or attorney, whose representation is not contingent upon the discovery or location of abandoned property, and it expressly excludes locators who engage in locating owners of abandoned property for a fee but are not registered with the department. (13) “Department” means the Department of Financial Services. (14) “Domicile” means the state of incorporation for a corporation; the state of filing for a business association, other than a corporation, whose formation or organization requires a filing with a state; the state of organization for a business association, other than a corporation, whose formation or organization does not require a filing with a state; or the state of home office for a federally charted entity. (15) “Due diligence” means the use of reasonable and prudent methods under particular circumstances to locate apparent owners of presumed abandoned property using the taxpayer identification number or social security number, if known, which may include, but are not limited to, using a nationwide database, cross-indexing with other records of the holder, mailing to the last known address unless the last known address is known to be inaccurate, providing written notice as described in this chapter by e-mail if an apparent owner has elected such delivery, or engaging a licensed agency or company capable of conducting such search and providing updated addresses. (16) “Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. (17) “Health care provider” means any state-licensed entity that provides and receives payment for health care services. These entities include, but are not limited to, hospitals, outpatient centers, physician practices, and skilled nursing facilities. (18) “Holder” means a person who is in possession of property belonging to another or who owes a debt or an obligation to another person, including, but not limited to, financial institutions, insurance companies, corporations, partnerships, fiduciaries, and government agencies. (19) “Insurance company” means an association, corporation, or fraternal or mutual benefit organization, whether for profit or not for profit, which is engaged in providing insurance coverage. (20) “Intangible property” includes, by way of illustration and not limitation: (a) Moneys, checks, virtual currency, drafts, deposits, interest, dividends, and income. (b) Credit balances, customer overpayments, security deposits and other instruments as defined by chapter 679, refunds, unpaid wages, unused airline tickets, and unidentified remittances. (c) Stocks, and other intangible ownership interests in business associations except for: 1. A non-freely transferable security; or 2. A security that is subject to a lien, legal hold, or restriction evidenced on the records of the holder or imposed by operation of law, if the lien, legal hold, or restriction restricts the holder’s or owner’s ability to receive, transfer, sell, or otherwise negotiate the security. (d) Moneys deposited to redeem stocks, bonds, bearer bonds, original issue discount bonds, coupons, and other securities, or to make distributions. (e) Amounts due and payable under the terms of insurance policies. (f) Amounts distributable from a trust or custodial fund established under a plan to provide any health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefit. (21) “Last known address” means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail. For the purposes of identifying, reporting, and remitting property to the department, the term includes any partial description of the location of the apparent owner sufficient to establish the apparent owner was a resident of this state at the time of last contact with the apparent owner or at the time the property became due and payable. (22) “Lawful charges” means charges against the property or the account in which the property is held which are authorized by statute for the purpose of offsetting the costs of maintaining the property or the account in which the property is held. (23) “Locator” means a private individual or business that locates owners of abandoned property in exchange for a fee, typically a percentage of the recovered property. Locators are not employees or agents of the state and are not registered with the department. (24) “Managed care payor” means a health care plan that has a defined system of selecting and limiting health care providers as evidenced by a managed care contract with the health care providers. These plans include, but are not limited to, managed care health insurance companies and health maintenance organizations. (25) “Non-freely transferable security” means a security that cannot be delivered to the administrator by the Depository Trust and Clearing Corporation or similar custodian of securities providing post-trade clearing and settlement services to financial markets or cannot be delivered because there is no agent to effect transfer. The term includes a worthless security. (26) “Owner” means the person entitled to receive or having a legal or equitable interest in the abandoned property. An owner establishes his or her entitlement by filing a valid claim with the department pursuant to this chapter. (27) “Person” means an individual; estate; business association; corporation; firm; association; joint adventure; partnership; government or governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. (28) “Public corporation” means a corporation created by the state, founded and owned in the public interest, supported by public funds, and governed by those deriving their power from the state. (29) “Record” means information that is captured or maintained in any format, including written, printed, electronic, audio, visual, or other forms, and that can be made perceptible or understandable to a person, either directly or through technological means, including assistive technologies. (30) “Reportable period” means the calendar year ending December 31 of each year. (31) “State,” when applied to a part of the United States, includes any state, district, commonwealth, territory, insular possession, and any other area subject to the legislative authority of the United States. (32) “Trust instrument” means a trust instrument as defined in s. 736.0103. (33) “United States” means any state, district, commonwealth, territory, insular possession, and any other area subject to the legislative authority of the United States of America. (34) “Utility” means a person who owns or operates, for public use, any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas. (35)(a) “Virtual currency” means digital units of exchange that: 1. Have a centralized repository or administrator; 2. Are decentralized and have no centralized repository or administrator; or 3. May be created or obtained by computing or manufacturing effort. (b) The term does not include any of the following: 1. Digital units that: a. Are used solely within online gaming platforms; b. Have no market or application outside of the online gaming platforms in sub-subparagraph a.; c. Cannot be converted into, or redeemed for, fiat currency or virtual currency; and d. Can or cannot be redeemed for real-world goods, services, discounts, or purchases. 2. Digital units that can be redeemed for: a. Real-world goods, services, discounts, or purchases as part of a customer affinity or rewards program with the issuer or other designated merchants; or b. Digital units in another customer affinity or rewards program, but cannot be converted into, or redeemed for, fiat currency or virtual currency. 3. Digital units used as part of prepaid cards. History. — s. 2, ch. 87-105; s. 23, ch. 91-110; s. 1, ch. 96-301; s. 1770, ch. 97-102; s. 1, ch. 2001-36; s. 1, ch. 2003-21; s. 1887, ch. 2003-261; s. 110, ch. 2004-390; s. 1, ch. 2005-163; s. 2, ch. 2013-172; s. 1, ch. 2016-90; s. 39, ch. 2024-140; s. 80, ch. 2025-6; s. 35, ch. 2026-174. 717.102 Property presumed abandoned; general rule. (1) Except as otherwise provided by this chapter, all intangible property, including any income or increment thereon less any lawful charges, that is held, issued, or owing in the ordinary course of the holder’s business and for which the apparent owner or authorized representative fails to demonstrate continued interest for more than the applicable dormancy period prescribed by this chapter shall be presumed abandoned. Unless otherwise specified by law, the dormancy period is 5 years from the date the property becomes payable or distributable. For the purposes of this chapter, property is considered payable or distributable once the holder’s obligation to pay or deliver the property arises, regardless of whether the apparent owner or authorized representative has failed to demand or to present documents required to receive payment. (2) A presumption that property is abandoned may be rebutted by the affirmative demonstration of continued interest by the apparent owner or authorized representative. Such demonstration of continued interest includes, but is not limited to, any of the following: (a) A record communicated by the apparent owner or authorized representative to the holder or its agent concerning the property or the account in which the property is held. (b) An oral communication by the apparent owner or authorized representative to the holder or its agent concerning the property or the account in which the property is held, if the holder or its agent contemporaneously records and preserves evidence of the communication. (c) Presentment of a check or other instrument for payment of dividends, interest, or other distributions related to the property. (d) Any account activity initiated by an apparent owner or authorized representative, including accessing the account or directing changes to information concerning the account or to the amount or type of property held, excluding routine automatic transactions previously authorized, to increase, decrease, or otherwise change the amount or type of property held in the account. (e) Any deposit into or withdrawal from the property or the account in which the property is held, excluding automatic deposits, withdrawals, or reinvestments previously authorized by the apparent owner or authorized representative. (f) Any other action by the apparent owner or authorized representative which reasonably demonstrates to the holder that the apparent owner or authorized representative is aware of and maintains an interest in the property. (3) If a holder learns or receives confirmation of an apparent owner’s death, the property shall be presumed abandoned 2 years after the date of death, unless an authorized representative makes an affirmative demonstration of interest in the property before the expiration of the 2-year period. This subsection may not be construed to extend the otherwise applicable dormancy period prescribed by this chapter. History. — s. 3, ch. 87-105; s. 2, ch. 2001-36; s. 40, ch. 2024-140; s. 36, ch. 2026-174. 717.103 General rules for taking custody of intangible abandoned property. Unless otherwise provided in this chapter or by other statute of this state, intangible property is subject to the custody of the department as abandoned property when the conditions leading to a presumption that the property is abandoned as described in ss. 717.102 and 717.105-717.116 are satisfied and the holder has fulfilled all required due diligence obligations without receiving any response or claim from the apparent owner, and one or more of the following criteria apply: (1) The last known address, as shown on the records of the holder, of the apparent owner is in this state. (2) The records of the holder do not identify the name of the apparent owner, but do reflect that the last known address of the apparent owner is in this state. (3) The records of the holder do not reflect the last known address of the apparent owner, but it is established that either of the following conditions apply: (a) The last known address of the apparent owner is in this state. (b) The holder is domiciled in this state, or is a government entity or subdivision of this state, and has not previously paid the property to the state of the last known address of the apparent owner. (4) The last known address, as shown on the records of the holder, of the apparent owner is in a jurisdiction that does not have applicable escheat, abandoned, or unclaimed property laws, and the holder is domiciled in this state or is a government entity or governmental subdivision or agency of this state. (5) The last known address, as shown on the records of the holder, of the apparent owner is in a foreign nation and the holder is domiciled in this state or is a government entity or governmental subdivision of this state. (6) The transaction out of which the property arose occurred in this state and both of the following are true: (a) The last known address of the apparent owner is unknown. (b) The holder is domiciled in a jurisdiction that does not have applicable escheat, abandoned, or unclaimed property laws. History. — s. 4, ch. 87-105; s. 3, ch. 2001-36; s. 37, ch. 2026-174. 717.104 Traveler’s checks and money orders. (1) Subject to subsection (4), any sum payable on a traveler’s check that has been outstanding for more than 15 years after its issuance is presumed abandoned unless the apparent owner or authorized representative, within 15 years, has demonstrated a continued interest in the property in accordance with s. 717.102. (2) Subject to subsection (4), any sum payable on a money order or similar written instrument, other than a third party bank check, that has been outstanding for more than 7 years after its issuance is presumed abandoned unless the apparent owner or authorized representative, within 7 years, has demonstrated a continued interest in the property in accordance with s. 717.102. (3) A holder may not deduct from the amount of any traveler’s check or money order any charges imposed by reason of the failure to present those instruments for payment unless there is a valid and enforceable written contract between the holder and the apparent owner of the property pursuant to which the holder may impose those charges and the holder regularly imposes those charges and does not regularly reverse or otherwise cancel those charges with respect to the property. (4) No sum payable on a traveler’s check, money order, or similar written instrument, other than a third party bank check, described in subsections (1) and (2) may be subjected to the custody of this state as abandoned property unless any of the following conditions are met: (a) The records of the holder show that the traveler’s check, money order, or similar written instrument was purchased in this state. (b) The holder has its principal place of business in this state and its records do not show the state in which the traveler’s check, money order, or similar written instrument was purchased. (c) The holder has its principal place of business in this state; the holder’s records show the state in which the traveler’s check, money order, or similar written instrument was purchased; and the state of purchase does not provide applicable escheat, abandoned, or unclaimed property laws. (5) Notwithstanding any other provision of this chapter, subsection (4) applies to sums payable on traveler’s checks, money orders, and similar written instruments presumed abandoned on or after February 1, 1965, except to the extent that those sums have been paid over to a state prior to January 1, 1974. History. — s. 5, ch. 87-105; s. 5, ch. 2001-36; s. 39, ch. 2026-174. 717.1045 Gift certificates and similar credit items. Notwithstanding s. 717.117, an unredeemed gift certificate or credit memo as defined in s. 501.95 is not required to be reported as abandoned property. (1) The consideration paid for an unredeemed gift certificate or credit memo is the property of the issuer of the unredeemed gift certificate or credit memo. (2) An unredeemed gift certificate or credit memo is subject only to any rights of a purchaser or owner thereof and is not subject to a claim made by any state acting on behalf of a purchaser or owner. (3) It is the intent of the Legislature that this section apply to the custodial holding of unredeemed gift certificates and credit memos. (4) However, a gift certificate or credit memo described in s. 501.95(2)(b) shall be reported as abandoned property. The consideration paid for such a gift certificate or credit memo is the property of the owner of the gift certificate or credit memo. History. — s. 2, ch. 2007-256; s. 40, ch. 2026-174. 717.105 Checks, drafts, and similar instruments issued or certified by banking and financial organizations. (1) Any sum payable on a check, draft, or similar instrument, except those subject to ss. 717.104 and 717.115, on which a banking or financial organization is directly liable, including, but not limited to, a cashier’s check or a certified check, which has been outstanding for more than 5 years after it was payable or after its issuance if payable on demand, is presumed abandoned unless the apparent owner or authorized representative, within 5 years, has communicated in writing with the banking or financial organization concerning it or otherwise demonstrated a continued interest in the property in accordance with s. 717.102. (2) A holder may not deduct from the amount of any instrument subject to this section any charges imposed by reason of the failure to present the instrument for encashment unless there is a valid and enforceable written contract between the holder and the apparent owner of the instrument pursuant to which the holder may impose those charges and does not regularly reverse or otherwise cancel those charges with respect to the instrument. History. — s. 6, ch. 87-105; s. 2, ch. 96-301; s. 6, ch. 2001-36; s. 41, ch. 2026-174. 717.106 Bank deposits and funds in financial organizations. (1) Any demand, savings, or matured time deposit with a banking or financial organization, including deposits that are automatically renewable, and any funds paid toward the purchase of shares, a mutual investment certificate, or any other interest in a banking or financial organization is presumed abandoned unless the apparent owner or authorized representative has, within 5 years, engaged in any of the following activities: (a) Increased or decreased the amount of the deposit or presented the passbook or other similar evidence of the deposit for the crediting of interest. (b) Communicated in writing or by documented telephone contact with the banking or financial organization concerning the property. (c) Otherwise demonstrated a continued interest in the property as evidenced by a memorandum or other record on file with the banking or financial organization. (d) Owned other property to which paragraph (a), paragraph (b), or paragraph (c) is applicable and if the banking or financial organization communicates in writing with the owner with regard to the property that would otherwise be presumed abandoned under this subsection at the address to which communications regarding the other property regularly are sent. (e) Had another relationship with the banking or financial organization concerning which the apparent owner has: 1. Communicated in writing with the banking or financial organization; or 2. Otherwise demonstrated a continued interest as evidenced by a memorandum or other record on file with the banking or financial organization and if the banking or financial organization communicates in writing with the apparent owner or authorized representative with regard to the property that would otherwise be presumed abandoned under this subsection at the address to which communications regarding the other relationship regularly are sent. (2) For purpose of paragraph (1)(a), property includes any interest or dividends thereon. (3) A holder may not impose with respect to property described in subsection (1) any charges due to dormancy or inactivity or cease payment of interest unless: (a) There is an enforceable written contract between the holder and the apparent owner of the property pursuant to which the holder may impose those charges or cease payment of interest. (b) For property in excess of $2, the holder, no more than 3 months prior to the initial imposition of those charges or cessation of interest, has given written notice to the apparent owner of the amount of those charges at the last known address of the apparent owner stating that those charges shall be imposed or that interest shall cease, but the notice provided in this section need not be given with respect to charges imposed or interest ceased before July 1, 1987. (c) The holder regularly imposes those charges or ceases payment of interest and does not regularly reverse or otherwise cancel those charges or retroactively credit interest with respect to such property. (4) Any property described in subsection (1) that is automatically renewable is matured for purposes of subsection (1) upon the expiration of its initial time period except that, in the case of any renewal to which the apparent owner consents at or about the time of renewal by communicating in writing with the banking or financial organization or otherwise indicating consent as evidenced by a memorandum or other record on file prepared by an employee of the organization, the property is matured upon the expiration of the last time period for which consent was given. If, at the time provided for delivery in s. 717.119, a penalty or forfeiture in the payment of interest would result from the delivery of the property, the time for delivery is extended until the time when no penalty or forfeiture would result. (5) If the documents establishing a deposit described in subsection (1) state the address of a beneficiary of the deposit, and the account has a value of at least $50, notice shall be given to the beneficiary as provided for notice to the apparent owner under s. 717.117. This subsection shall apply to accounts opened on or after October 1, 1990. History. — s. 7, ch. 87-105; s. 2, ch. 90-113; s. 63, ch. 91-110; s. 3, ch. 96-301; s. 7, ch. 2001-36; s. 111, ch. 2004-390; s. 2, ch. 2005-163; s. 41, ch. 2024-140; s. 42, ch. 2026-174. 717.1065 Virtual currency. (1) Any virtual currency held or owing by a banking organization, corporation, custodian, exchange, or other entity engaged in virtual currency business activity is presumed unclaimed unless the owner, within 7 years, has communicated in writing with the banking organization, corporation, custodian, exchange, or other entity engaged in virtual currency business activity concerning the virtual currency or otherwise indicated an interest as evidenced by a memorandum or other record on file with the banking organization, corporation, custodian, exchange, or other entity engaged in virtual currency business activity. (2) A holder may not deduct from the amount of any virtual currency subject to this section any charges imposed by reason of the virtual currency unless there is a valid and enforceable written contract between the holder and the owner of the virtual currency pursuant to which the holder may impose those charges and the holder does not regularly reverse or otherwise cancel those charges with respect to the virtual currency. History. — s. 42, ch. 2024-140; s. 43, ch. 2026-174. 717.107 Funds owing under life insurance policies, annuity contracts, and retained asset accounts; fines, penalties, and interest; United States Social Security Administration Death Master File. (1) Funds held or owing under any life or endowment insurance policy or annuity contract which has matured or terminated are presumed abandoned if unclaimed for more than 5 years after the date of death of the insured, the annuitant, or the retained asset account holder, but property described in paragraph (3)(d) is presumed abandoned if such property is not claimed for more than 2 years. The amount presumed abandoned shall include any amount due and payable under s. 627.4615. (2) If a person other than the insured, the annuitant, or the retained asset account holder is entitled to the funds and no address of the person is known to the company or it is not definite and certain from the records of the company who is entitled to the funds, it is presumed that the last known address of the person entitled to the funds is the same as the last known address of the insured, the annuitant, or the retained asset account holder according to the records of the company. (3) For purposes of this chapter, a life or endowment insurance policy or annuity contract not matured by actual proof of the death of the insured, the annuitant, or the retained asset account holder according to the records of the company is deemed matured and the proceeds due and payable if any of the following applies: (a) The company knows that the insured, the annuitant, or the retained asset account holder has died. (b) A presumption of death made in accordance with paragraph (8)(c) has not been rebutted. (c) The policy or contract has reached its maturity date. (d)1. The insured has attained, or would have attained if he or she were living, the limiting age under the mortality table on which the reserve is based; 2. The policy was in force at the time the insured attained, or would have attained, the limiting age specified in subparagraph 1.; and 3. Neither the insured nor any other person appearing to have an interest in the policy within the preceding 2 years, according to the records of the company, has assigned, readjusted, or paid premiums on the policy; subjected the policy to a loan; corresponded in writing with the company concerning the policy; or otherwise indicated an interest as evidenced by a memorandum or other record on file prepared by an employee of the company. (4) For purposes of this chapter, the application of an automatic premium loan provision or other nonforfeiture provision contained in an insurance policy does not prevent the policy from being matured or terminated under subsection (1) if the insured has died or the insured or the beneficiaries of the policy otherwise have become entitled to the proceeds thereof before the depletion of the cash surrender value of a policy by the application of those provisions. (5) If the laws of this state or the terms of the life insurance policy require the company to give notice to the insured or owner that an automatic premium loan provision or other nonforfeiture provision has been exercised and the notice, given to an insured or owner whose last known address according to the records of the company is in this state, is undeliverable, the company shall make a reasonable search to ascertain the policyholder’s correct address to which the notice must be mailed. (6) Notwithstanding any other provision of law, if the company learns of the death of the insured, the annuitant, or the retained asset account holder and the beneficiary has not communicated with the insurer within 4 months after the death, the company shall take reasonable steps to pay the proceeds to the beneficiary. (7) Commencing 2 years after July 1, 1987, every change of beneficiary form issued by an insurance company under any life or endowment insurance policy or annuity contract to an insured or owner who is a resident of this state must request the following information: (a) The name of each beneficiary, or if a class of beneficiaries is named, the name of each current beneficiary in the class. (b) The address of each beneficiary. (c) The relationship of each beneficiary to the insured. (8)(a) Notwithstanding any other provision of law, an insurer shall compare the records of its insureds’ life or endowment insurance policies, annuity contracts that provide a death benefit, and retained asset accounts that were in force at any time on or after January 1, 1992, against the United States Social Security Administration Death Master File once to determine whether the death of an insured, an annuitant, or a retained asset account holder is indicated and shall thereafter use the Death Master File update files for future comparisons. The comparisons must use the name and social security number or date of birth of the insured, the annuitant, or the retained asset account holder. The comparisons must be made on at least an annual basis before August 31 of each year. If an insurer performs such comparisons regarding its annuities or other books of business more frequently than once a year, the insurer must also make comparisons regarding its life insurance policies, annuity contracts that provide a death benefit, and retained asset accounts at the same frequency as is made regarding its annuities or other books or lines of business. An insurer may perform the comparisons required by this paragraph using any database or service that the department determines is at least as comprehensive as the United States Social Security Administration Death Master File for the purpose of indicating that a person has died. (b) However, an insurer that meets one of the following criteria as of June 30, 2016, shall conduct the comparison in paragraph (a) to all in-force policies: 1. The insurer has entered into a regulatory settlement agreement with the Office of Insurance Regulation; or 2. The insurer has received a targeted market conduct examination report issued by the Office of Insurance Regulation regarding claims-handling practices and the use of the Death Master File with no findings of violations of law. (c) An insured, an annuitant, or a retained asset account holder is presumed deceased if the date of his or her death is indicated by the comparison required under paragraph (a) unless the insurer has in its records competent and substantial evidence that the person is living, including, but not limited to, a contact made by the insurer with such person or his or her legal representative. The insurer shall account for common variations in data and for any partial names, social security numbers, dates of birth, and addresses of the insured, the annuitant, or the retained asset account holder which would otherwise preclude an exact match. (d) For purposes of this section, a policy, an annuity contract, or a retained asset account is deemed to be in force if it has not lapsed, has not been canceled, or has not been terminated at the time of death of the insured, the annuitant, or the retained asset account holder. (e) This subsection does not apply to an insurer with respect to benefits payable under: 1. An annuity that is issued in connection with an employment-based plan subject to the Employee Retirement Income Security Act of 1974 or that is issued to fund an employment-based retirement plan, including any deferred compensation plan. 2. A policy of credit life or accidental death insurance. 3. A joint and survivor annuity contract if an annuitant is still living. 4. A policy issued to a group master policy owner for which the insurer does not perform record-keeping functions. For purposes of this subparagraph, the term “record-keeping” means those circumstances under which the insurer has agreed through a group policyholder to be responsible for obtaining, maintaining, and administering, in its own or its agents’ systems, information about each individual insured under a group insurance policy or a line of coverage thereunder, including at least the following: a. The social security number, or name and date of birth; b. Beneficiary designation information; c. Coverage eligibility; d. The benefit amount; and e. Premium payment status. 5. Any policy or certificate of life insurance that is assigned to a person licensed under s. 497.452 to fund a preneed funeral merchandise or service contract. (9) No later than 120 days after learning of the death of an insured, an annuitant, or a retained asset account holder through a comparison under subsection (8), an insurer shall: (a) Complete and document an effort to confirm the death of the insured, the annuitant, or the retained asset account holder against other available records and information. (b) Review its records to determine whether the insured, the annuitant, or the retained asset account holder purchased other products from the insurer. (c) Determine whether benefits may be due under a policy, an annuity, or a retained asset account. (d) Complete and document an effort to locate and contact the beneficiary or authorized representative under a policy, an annuity, or a retained asset account if such person has not communicated with the insurer before the expiration of the 120-day period. The effort must include: 1. Sending to the beneficiary or authorized representative information concerning the claim process of the insurer. 2. Notice of any requirement to provide a certified original or copy of the death certificate if applicable under the policy, annuity, or retained asset account. (10) An insurer may, to the extent permitted by law, disclose the minimum necessary personal information about an insured, an annuitant, a retained asset account owner, or a beneficiary to an individual or entity reasonably believed by the insurer to possess the ability to assist the insurer in locating the beneficiary or any other individual or entity that is entitled to payment of the claim proceeds. (11) An insurer, or any agent or third party that it engages or that works on its behalf, may not charge insureds, annuitants, retained asset account holders, beneficiaries, or the estates of insureds, annuitants, retained asset account holders, or the beneficiaries of an estate any fees or costs associated with any search, verification, claim, or delivery of funds conducted pursuant to this section. History. — s. 8, ch. 87-105; s. 849, ch. 97-102; s. 8, ch. 2001-36; s. 112, ch. 2004-390; s. 1, ch. 2016-219; s. 44, ch. 2026-174. 717.1071 Lost owners of abandoned demutualization, rehabilitation, or related reorganization proceeds. (1) Property distributable in the course of a demutualization, rehabilitation, or related reorganization of an insurance company is deemed abandoned 2 years after the date the property is first distributable if, at the time of the first distribution, the last known address of the apparent owner on the books and records of the holder is known to be incorrect or the distribution or statements are returned by the post office as undeliverable; and the apparent owner or authorized representative has not communicated in writing with the holder or its agent regarding the interest or otherwise communicated with the holder regarding the interest as evidenced by a memorandum or other record on file with the holder or its agent. (2) Property distributable in the course of demutualization, rehabilitation, or related reorganization of a mutual insurance company that is not subject to subsection (1) shall be reportable as otherwise provided by this chapter. (3) Property subject to this section shall be reported and delivered no later than May 1 as of the preceding December 31; however, the initial report under this section shall be filed no later than November 1, 2003, as of December 31, 2002. History. — s. 2, ch. 2003-21; s. 75, ch. 2003-281; s. 45, ch. 2026-174. 717.108 Deposits held by utilities. Any deposit, including any interest thereon, made by a subscriber with a utility to secure payment or any sum paid in advance for utility services to be furnished, less any lawful charges, that remains unclaimed by the apparent owner for more than 1 year after termination of the services for which the deposit or advance payment was made is presumed abandoned. History. — s. 9, ch. 87-105; s. 4, ch. 96-301; s. 9, ch. 2001-36; s. 46, ch. 2026-174. 717.109 Refunds held by business associations. Except as otherwise provided by law, any sum that a business association has been ordered to refund by a court or administrative agency which has been unclaimed by the apparent owner for more than 1 year after it became payable in accordance with the final determination or order providing for the refund, regardless of whether the final determination or order requires any person entitled to a refund to make a claim for it, is presumed abandoned. History. — s. 10, ch. 87-105; s. 10, ch. 2001-36; s. 113, ch. 2004-390; s. 47, ch. 2026-174. 717.1101 Abandoned equity and debt of business associations. (1)(a) Stock, other equity interests, or debt of a business association is presumed abandoned on the date of the earliest of any of the following: 1. Three years after the date a communication, other than communications required by s. 717.117, sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States Postal Service. If such returned communication is resent within 1 month to the apparent owner, the 3-year dormancy period does not begin until the day the resent item is returned as undelivered. 2. Five years after the most recent of any account activity or communication initiated by the apparent owner or authorized representative which demonstrates continued interest in the account, as recorded and maintained by the holder. Routine automatic reinvestments or other routine transactions previously authorized by the apparent owner or authorized representative do not prevent, interrupt, or reset the dormancy period and do not constitute an affirmative demonstration of continued interest. 3. Two years after the date of the death of the apparent owner, as evidenced by: a. Notice to the holder of the apparent owner’s death by an authorized representative; b. Receipt by the holder of a copy of the death certificate of the apparent owner; c. Confirmation by the holder of the apparent owner’s death through other means; or d. Other evidence from which the holder may reasonably conclude that the apparent owner is deceased. (b) If the holder does not send communication to the apparent owner of a security by first-class United States mail on an annual basis, the holder must attempt to confirm the apparent owner’s interest in the equity interest by sending the apparent owner an e-mail communication not later than 3 years after the apparent owner’s or authorized representative’s last demonstration of continued interest in the equity interest. However, the holder must promptly attempt to contact the apparent owner by first-class United States mail if: 1. The holder does not have information needed to send the apparent owner an e-mail communication or the holder believes that the apparent owner’s e-mail address in the holder’s records is not valid; 2. The holder received notification that the e-mail communication was not received; or 3. The apparent owner does not respond to the e-mail communication within 30 days after the communication was sent. (c) If first-class United States mail sent under paragraph (b) is returned to the holder undelivered by the United States Postal Service, the equity interest is presumed abandoned in accordance with paragraph (a). (d) Unmatured or unredeemed debt, other than a bearer bond or an original issue discount bond, is presumed abandoned 5 years after the date of the most recent interest payment unclaimed by the owner. (e) Matured or redeemed debt is presumed abandoned 5 years after the date of maturity or redemption. (f) At the time property is presumed abandoned under paragraph (a) or 1 paragraph (b), any other property right accrued or accruing to the owner as a result of the property interest and not previously presumed abandoned is also presumed abandoned. (2) The running of the applicable dormancy period under this section ceases if the apparent owner or authorized representative demonstrates continued interest under s. 717.102, including by any of the following actions: (a) Communicating in writing or by other means with the association or its agent regarding the interest, dividend, distribution, or other sum payable as a result of the interest, as recorded by the association or its agent. (b) Presenting an instrument issued to pay interest, a dividend, or other distribution. If any future dividend, distribution, or other sum payable as a result of the interest is subsequently unclaimed, a new period in which the property is presumed abandoned commences and relates back only to the time a subsequent dividend, distribution, or other sum became due and payable. (3) At the same time any interest is presumed abandoned under this section, any dividend, distribution, or other sum then held for or owing to the owner as a result of the interest, is presumed abandoned. (4) Any dividend, profit, distribution, interest redemption, payment on principal, or other sum held or owing by a business association for or to a shareholder, certificateholder, member, bondholder, or other security holder, who has not claimed such amount or corresponded in writing with the business association concerning such amount, within 5 years after the date prescribed for payment or delivery, is presumed abandoned. (5) Notwithstanding any other provision of this section, equity interests in business associations and securities accounts are not presumed abandoned solely due to inactivity if the holder knows the location of the apparent owner. (a) For purposes of this subsection, a holder must perform data matching of owner records maintained in its database against commercially available third-party data comparison sources to identify updated owner address information and indicators of deceased status. Utilizing any updated information, together with existing information of record, the holder is deemed to know the location of the apparent owner if: 1. The holder communicates with the apparent owner at least annually by first-class United States mail or electronic means, including, but not limited to, e-mail, text message, mobile application, or similar mechanism; 2. Such communication is successfully delivered, meaning not returned as undeliverable; and 3. One or more additional account-level indicators demonstrating an owner indication of interest occur at least once every 10 years, including: a. Owner-initiated activity, such as authenticated access to a website, mobile engagement via mobile messaging, or other authenticated third-party account servicing software; b. Updated contact information received through an authorized financial adviser; c. Responses to account notifications or alerts; d. Negotiation of distributions, including dividends; or e. Any other action by the apparent owner or authorized representative which reasonably demonstrates to the holder that the apparent owner or authorized representative is aware of and maintains an interest in the property. (b) Automatic deposits, reinvestments, or other recurring transactions initiated by the holder may not independently constitute an indication of apparent owner interest for purposes of this section. (c) If the conditions in paragraph (a) are not satisfied and the owner’s location is deemed unknown, the equity interest or securities account may be presumed abandoned: 1. Ten years after the owner’s most recent indication of interest in the property; or 2. Ten years after the date a communication is returned as undeliverable, unless the owner responds to a due diligence notice before the reporting deadline. (d) Property described in paragraph (c) is presumed abandoned only after reasonable efforts to locate the owner have been unsuccessful and the holder has complied with the due diligence requirement of this chapter. (e) This subsection applies to equity interests and securities accounts held directly by the owner or indirectly through a brokerage account or similar account. History. — s. 11, ch. 87-105; s. 5, ch. 96-301; s. 11, ch. 2001-36; s. 3, ch. 2003-21; s. 3, ch. 2005-163; s. 43, ch. 2024-140; s. 48, ch. 2026-174. 1 Note. — Redesignated as paragraph (d) by s. 48, ch. 2026-174. 717.111 Property of business associations held in course of dissolution. All intangible property distributable in the course of a voluntary or involuntary dissolution of a business association which is not claimed by the apparent owner for more than 6 months after the date specified for final distribution is presumed abandoned. History. — s. 12, ch. 87-105; s. 12, ch. 2001-36; s. 49, ch. 2026-174. 717.112 Property held by agents and fiduciaries. (1) All intangible property and any income or increment thereon held in a fiduciary capacity for the benefit of another person, including property held by an attorney in fact or an agent, except as provided in ss. 717.1125 and 733.816, is presumed abandoned unless the apparent owner has within 5 years after it has become payable or distributable increased or decreased the principal, accepted payment of principal or income, communicated in writing concerning the property, or otherwise indicated an interest as evidenced by a memorandum or other record on file with the fiduciary. (2) Funds in an individual retirement account or a retirement plan for self-employed individuals or similar account or plan established pursuant to the Internal Revenue laws of the United States are not payable or distributable within the meaning of subsection (1) unless, under the terms of the account or plan, distribution of all or part of the funds would then be mandatory. (3) For the purpose of this section, a person who holds property as an agent for a business association is deemed to hold the property in a fiduciary capacity for that business association alone, unless the agreement between said person and the business association provides otherwise. (4) For the purposes of this chapter, a person who is deemed to hold property in a fiduciary capacity for a business association alone is the holder of the property only insofar as the interest of the business association in the property is concerned, and the business association is the holder of the property insofar as the interest of any other person in the property is concerned. (5) All intangible property, and any income or increment thereon, issued by a government or governmental subdivision or agency, public corporation, or public authority and held in an agency capacity for the governmental subdivision, agency, public corporation, or public authority for the benefit of the owner of record is presumed abandoned unless the apparent owner has, within 1 year after such property has become payable or distributable, increased or decreased the principal, accepted payment of the principal or income, communicated concerning the property, or otherwise indicated an interest in the property as evidenced by a memorandum or other record on file with the fiduciary. (6) This section does not relieve a fiduciary of his or her duties under applicable general law. History. — s. 13, ch. 87-105; s. 6, ch. 96-301; s. 13, ch. 2001-36; s. 3, ch. 2013-172; s. 44, ch. 2024-140; s. 50, ch. 2026-174. 717.1125 Property held by fiduciaries under trust instruments. All intangible property and any income or increment thereon held in a fiduciary capacity for the benefit of another person under a trust instrument is presumed abandoned unless the apparent owner has, within 2 years after it has become payable or distributable, increased or decreased the principal, accepted payment of principal or income, communicated concerning the property, or otherwise indicated an interest as evidenced by a memorandum or other record on file with the fiduciary. This section does not relieve a fiduciary of his or her duties under the Florida Trust Code. History. — s. 4, ch. 2013-172; s. 45, ch. 2024-140; s. 51, ch. 2026-174. 717.113 Property held by courts and public agencies. All intangible property held for the apparent owner by any court, government or governmental subdivision or agency, public corporation, or public authority that has not been claimed by the apparent owner for more than 1 year after it became payable or distributable is presumed abandoned. Except as provided in s. 45.032(3)(c), money held in the court registry and for which no court order has been issued to determine an owner does not become payable or distributable and is not subject to reporting under this chapter. Notwithstanding the provisions of this section, funds deposited in the Minerals Trust Fund pursuant to s. 377.247 are presumed abandoned only if the funds have not been claimed by the apparent owner for more than 5 years after the date of first production from the well. History. — s. 14, ch. 87-105; s. 4, ch. 94-193; s. 71, ch. 96-321; s. 14, ch. 2001-36; s. 8, ch. 2018-71; s. 52, ch. 2026-174. 717.115 Wages. Unpaid wages, including wages represented by unpresented payroll checks, owing in the ordinary course of the holder’s business that have not been claimed by the apparent owner for more than 1 year after becoming payable are presumed abandoned. History. — s. 16, ch. 87-105; s. 15, ch. 2001-36; s. 53, ch. 2026-174. 717.116 Contents of safe-deposit box or other safekeeping repository. All tangible and intangible property held by a banking or financial organization in a safe-deposit box or any other safekeeping repository in this state in the ordinary course of the holder’s business, and proceeds resulting from the sale of the property permitted by law, that has not been claimed by the apparent owner or authorized representative for more than 3 years after the lease or rental period on the box or other repository has expired are presumed abandoned. History. — s. 17, ch. 87-105; s. 8, ch. 96-301; s. 16, ch. 2001-36; s. 114, ch. 2004-390; s. 54, ch. 2026-174. 717.117 Holder due diligence and report of abandoned property. (1) Property is presumed abandoned upon expiration of the applicable dormancy period under this chapter. However, such property is not deemed abandoned for purposes of reporting or remittance to the department until the holder has conducted reasonable due diligence as required by this section, resulting in no indication of interest from the apparent owner or authorized representative. (2) Holders of property presumed abandoned which has a value of $50 or more shall use due diligence to locate and notify the apparent owner that the holder is in possession of property subject to this chapter. At least 90 days, but not more than 180 days, before filing the report required by this section, a holder in possession of presumed abandoned property shall send written notice by first-class United States mail to the apparent owner’s last known address as shown in the holder’s records or from other available sources, or by e-mail if the apparent owner has elected for e-mail delivery, informing the apparent owner that the holder is in possession of property subject to this chapter, provided that the holder’s records contain a mailing or e-mail address for the apparent owner which is not known by the holder to be inaccurate. The holder may provide notice by mail, by e-mail, or by both methods. If the holder’s records indicate that the mailing address is inaccurate, notice may be provided by e-mail if the apparent owner has elected e-mail delivery. (3) If the value of the property is greater than $1,000, the holder must send a second written notice by certified United States mail, return receipt requested, to the apparent owner’s last known address at least 60 days before filing the report required by this section, if the holder’s records contain a mailing address for the apparent owner which is not known by the holder to be inaccurate. Reasonable costs paid to the United States Postal Service for certified mail, return receipt requested, may be deducted from the property as a service charge. A signed return receipt received in response to the certified mail notice constitutes an affirmative demonstration of continued interest as described in s. 717.102. (4) The written notice required under this section must include: (a) A heading that reads substantially as follows: “Notice: The State of Florida requires us to notify you that your property may be transferred to the custody of the Florida Department of Financial Services if you do not contact us before (insert date that is at least 30 days after the date of notice) .” (b) A description of the type, nature, and, unless the property does not have a fixed value, value of the property that is the subject of the notice. (c) A statement that the property will be turned over to the custody of the department as abandoned property if no response is received. (d) A statement that noncash property will be sold or liquidated by the department. (e) A statement that, after the property is remitted to the department, a claim must be filed with the department to recover the property. (f) A statement that the property is currently in the custody of the holder and that the apparent owner may prevent transfer of the property by contacting the holder before the deadline stated in the notice. (g) If the property is virtual currency, a statement that the virtual currency will be liquidated by the holder before it is remitted to the department and that only the proceeds of the liquidation will be transferred. (5) Every holder of abandoned property, tangible or intangible, subject to custody under this chapter shall submit a report to the department via electronic medium as the department may prescribe by rule. The report must include: (a) Except for traveler’s checks and money orders, the name, social security number or taxpayer identification number, date of birth, if known, and last known address, if any, of each apparent owner of any property which is abandoned and which has a value of $10 or more. (b) For abandoned funds that have a value of $10 or more held or owing under any life or endowment insurance policy or annuity contract, the identifying information provided in paragraph (a) for both the insured or annuitant and the beneficiary according to records of the insurance company holding or owing the funds. (c) For all tangible property held in a safe-deposit box or other safekeeping repository, a description of the property and the place where the property is held and may be inspected by the department, and any amounts owing to the holder. Contents of a safe-deposit box or other safekeeping repository which consist of documents or writings which have little or no commercial value may not be reported as