Florida Statute 717.123 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XL
REAL AND PERSONAL PROPERTY

Chapter 717
DISPOSITION OF UNCLAIMED PROPERTY

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F.S. 717.123

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 $15 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.

(3) Notwithstanding subsection (1), and for the 2022-2023 fiscal year, the department shall retain, from funds received under this chapter, an amount not exceeding $65 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. This subsection expires July 1, 2024.

History.—s. 24, ch. 87-105; s. 13, ch. 96-301; s. 22, ch. 2001-36; s. 120, ch. 2004-390; s. 48, ch. 2023-240.

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Amendments to 717.123

Arrestable Offenses / Crimes under Fla. Stat. 717.123

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 717.123.

Annotations, Discussions, Cases:

Cases Citing Statute 717.123

Total Results: 3

Choice Plus, LLC v. Department of Financial Services, etc.

Court: Fla. Dist. Ct. App. | Date Filed: 2018-04-17T00:53:00-07:00

Snippet: often end up in the State School Fund. See § 717.123. The fact that the funds end up in the same

Crescenzo v. Atwater

Court: Fla. Dist. Ct. App. | Date Filed: 2014-04-23T00:00:00-07:00

Citation: 136 So. 3d 1248, 2014 WL 1613401, 2014 Fla. App. LEXIS 5866

Snippet: 717 often end up in the State School Fund. See § 717.123. The fact that the funds end up in the same account

Ago

Court: Fla. Att'y Gen. | Date Filed: 1995-05-04T00:53:00-07:00

Snippet: department assumes custody of the property. Section 717.123, Florida Statutes, provides for the deposit of