Florida Statute 717.123 - Full Text and Legal Analysis

The 2025 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.

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; s. 14, ch. 2025-5.

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Amendments to 717.123

Annotations, Discussions, Cases:

Cases Citing Statute 717.123

Total Results: 4

Alieda Maron v. Chief Financial Officer of Florida

Court of Appeals for the Eleventh Circuit | Filed: May 16, 2025 | Docket: 67998121

Published

Argued: Nov 20, 2024

its “Unclaimed Property Trust Fund.” Id. § 717.123. It then uses the fund to administer the Act

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

244 So. 3d 343

District Court of Appeal of Florida | Filed: Apr 17, 2018 | Docket: 6365062

Published

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

Crescenzo v. Atwater

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

District Court of Appeal of Florida | Filed: Apr 23, 2014 | Docket: 60239955

Published

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

Ago

Florida Attorney General Reports | Filed: May 4, 1995 | Docket: 3257731

Published

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