Bill Text: FL S1098 | 2024 | Regular Session | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Department of Financial Services
Spectrum: Slight Partisan Bill (? 3-1)
Status: (Introduced) 2024-03-06 - Laid on Table, refer to CS/CS/CS/HB 989 [S1098 Detail]
Download: Florida-2024-S1098-Comm_Sub.html
Bill Title: Department of Financial Services
Spectrum: Slight Partisan Bill (? 3-1)
Status: (Introduced) 2024-03-06 - Laid on Table, refer to CS/CS/CS/HB 989 [S1098 Detail]
Download: Florida-2024-S1098-Comm_Sub.html
Florida Senate - 2024 CS for SB 1098 By the Committee on Banking and Insurance; and Senator DiCeglie 597-02370-24 20241098c1 1 A bill to be entitled 2 An act relating to the Department of Financial 3 Services; creating s. 17.69, F.S.; creating the 4 federal tax liaison position within the department; 5 providing the purpose of the position; requiring the 6 Chief Financial Officer to appoint the federal tax 7 liaison; providing that such liaison reports to the 8 Chief Financial Officer but is not under the authority 9 of the department or any employee of the department; 10 authorizing the federal tax liaison to perform certain 11 actions; amending s. 20.121, F.S.; renaming the 12 Division of Investigative and Forensic Services in the 13 Department of Financial Services as the Division of 14 Criminal Investigations; deleting provisions relating 15 to duties of such division and to bureaus and offices 16 in such division; abolishing the Division of Public 17 Assistance Fraud; amending s. 121.0515, F.S.; revising 18 requirements for the Special Risk Class membership; 19 amending s. 215.5586, F.S.; revising legislative 20 intent; revising requirements for My Safe Florida Home 21 Program mitigation inspections and mitigation grants; 22 providing additional requirements for applications for 23 inspections and mitigation grants; deleting provisions 24 relating to matching fund grants; revising 25 improvements for which grants may be used; providing a 26 timeframe for finalizing construction and requesting a 27 final inspection or an extension; providing that grant 28 applications are deemed abandoned under a specified 29 circumstance; authorizing the department to request 30 additional information; providing that applications 31 are deemed withdrawn under a specified circumstance; 32 amending s. 284.44, F.S.; deleting provisions relating 33 to certain quarterly reports prepared by the Division 34 of Risk Management; amending s. 440.13, F.S.; 35 providing the reimbursement schedule requirements for 36 emergency services and care under workers’ 37 compensation under certain circumstances; amending s. 38 440.385, F.S.; providing requirements for certain 39 contracts entered into and purchases made by the 40 Florida Self-Insurers Guaranty Association, 41 Incorporated; providing duties of the department and 42 the association relating to these contracts and 43 purchases; amending s. 497.101, F.S.; revising the 44 requirements for appointing and nominating members of 45 the Board of Funeral, Cemetery, and Consumer Services; 46 revising the members’ terms; revising the authority to 47 remove board members; providing for vacancy 48 appointments; providing that board members are subject 49 to the code of ethics under part III of ch. 112, F.S.; 50 providing requirements for board members’ conduct; 51 specifying prohibited acts; providing penalties; 52 providing requirements for board meetings, books, and 53 records; requiring notices of board meetings; 54 providing requirements for board meetings; amending s. 55 497.153, F.S.; authorizing service by e-mail of 56 administrative complaints against certain licensees 57 under certain circumstances; amending s. 497.155, 58 F.S.; authorizing service of citations by e-mail under 59 certain circumstances; amending s. 624.155, F.S.; 60 deleting a cross-reference; amending s. 624.307, F.S.; 61 requiring eligible surplus lines insurers to respond 62 to the department or the Office of Insurance 63 Regulation after receipt of requests for documents and 64 information concerning consumer complaints; providing 65 penalties for failure to comply; requiring authorized 66 insurers and eligible surplus lines insurers to file 67 e-mail addresses with the department and to designate 68 contact persons for specified purposes; authorizing 69 changes of designated contact information; amending s. 70 626.171, F.S.; requiring the department to make 71 provisions for certain insurance license applicants to 72 submit cellular telephone numbers for a specified 73 purpose; amending s. 626.221, F.S.; providing a 74 qualification for an all-lines adjuster license; 75 amending s. 626.601, F.S.; revising construction; 76 amending s. 626.7351, F.S.; providing a qualification 77 for a customer representative’s license; amending s. 78 626.878, F.S.; providing duties and prohibited acts 79 for adjusters; amending s. 626.929, F.S.; specifying 80 that licensed and appointed general lines agents, 81 rather than general lines agents, may engage in 82 certain activities while also licensed and appointed 83 as surplus lines agents; authorizing general lines 84 agents that are also licensed as surplus lines agents 85 to make certain appointments; authorizing such agents 86 to originate specified business and accept specified 87 business; prohibiting such agents from being appointed 88 by a certain insurer or transacting certain insurance; 89 amending s. 627.351, F.S.; providing requirements for 90 certain contracts entered into and purchases made by 91 the Florida Joint Underwriting Association; providing 92 duties of the department and the association regarding 93 such contracts and purchases; amending s. 627.43141, 94 F.S.; providing requirements for a certain notice of 95 change in insurance renewal policy terms; amending s. 96 627.70152, F.S.; deleting a cross-reference; amending 97 s. 631.59, F.S.; providing requirements for certain 98 contracts entered into and purchases made by the 99 Florida Insurance Guaranty Association, Incorporated; 100 providing duties of the department and the association 101 regarding such contracts and purchases; amending ss. 102 631.722, 631.821, and 631.921, F.S.; providing 103 requirements for certain contracts entered into and 104 purchases made by the Florida Life and Health 105 Insurance Guaranty Association, the board of directors 106 of the Florida Health Maintenance Organization 107 Consumer Assistance Plan, and the board of directors 108 of the Florida Workers’ Compensation Insurance 109 Guaranty Association, respectively; providing duties 110 of the department and of the associations and boards 111 regarding such contracts and purchases; amending s. 112 633.124, F.S.; updating the edition of a manual for 113 the use of pyrotechnics; amending s. 633.202, F.S.; 114 revising the duties of the State Fire Marshal; 115 amending s. 633.206, F.S.; revising the requirements 116 for uniform firesafety standards established by the 117 department; amending s. 634.041, F.S.; specifying the 118 conditions under which service agreement companies do 119 not have to establish and maintain unearned premium 120 reserves; amending s. 634.081, F.S.; specifying the 121 conditions under which service agreement companies’ 122 licenses are not suspended or revoked under certain 123 circumstances; amending s. 634.3077, F.S.; specifying 124 requirements for certain contractual liability 125 insurance obtained by home warranty associations; 126 providing that such associations are not required to 127 establish unearned premium reserves or maintain 128 contractual liability insurance; authorizing such 129 associations to allow their premiums to exceed certain 130 limitations under certain circumstances; amending s. 131 634.317, F.S.; providing that agents and employees of 132 municipal and county government are exempt from sales 133 representative licenses and appointments under certain 134 circumstances; amending s. 648.25, F.S.; providing 135 definitions; amending s. 648.26, F.S.; revising the 136 circumstances under which investigatory records of the 137 department are confidential and exempt from public 138 records requirements; revising construction; amending 139 s. 648.30, F.S.; revising circumstances under which a 140 person or entity may act in the capacity of a bail 141 bond agent or bail bond agency and perform certain 142 functions, duties, and powers; amending s. 648.355, 143 F.S.; revising the requirements for limited surety 144 agents and professional bail bond agents license 145 applications; amending s. 648.43, F.S.; revising 146 requirements for bail bond agents to execute and 147 countersign transfer bonds; amending s. 717.101, F.S.; 148 defining and revising terms; amending s. 717.102, 149 F.S.; providing a rebuttal to a presumption of 150 unclaimed property; providing requirements for such 151 rebuttal; amending s. 717.106, F.S.; conforming a 152 cross-reference; creating s. 717.1065, F.S.; providing 153 circumstances under which virtual currency held or 154 owing by banking organizations is not presumed 155 unclaimed; prohibiting virtual currency holders from 156 deducting certain charges from the amount of certain 157 virtual currency under certain circumstances; 158 providing an exception; amending s. 717.1101, F.S.; 159 revising the date on which stocks and other equity 160 interests in business associations are presumed 161 unclaimed; amending s. 717.112, F.S.; providing that 162 certain intangible property held by attorneys in fact 163 and by agents in a fiduciary capacity are presumed 164 unclaimed under certain circumstances; revising the 165 requirements for claiming such property; amending s. 166 717.117, F.S.; deleting the paper option for reports 167 by holders of unclaimed funds and property; revising 168 the requirements for reporting the owners of unclaimed 169 property and funds; authorizing the department to 170 extend reporting dates under certain circumstances; 171 revising the circumstances under which the department 172 may impose and collect penalties; requiring holders of 173 certain inactive accounts to notify apparent owners; 174 revising the manner of sending such notices; providing 175 requirements for such notices; amending s. 717.119, 176 F.S.; requiring certain virtual currency to be 177 remitted to the department; providing requirements for 178 the liquidation of such virtual currency; providing 179 that holders of such virtual currency are relieved of 180 all liability upon delivery of the virtual currency to 181 the department; prohibiting holders from assigning or 182 transferring certain obligations or from complying 183 with certain provisions; providing that certain 184 entities are responsible for meeting holders’ 185 obligations and complying with certain provisions 186 under certain circumstances; providing construction; 187 amending s. 717.1201, F.S.; providing that good faith 188 payments and deliveries of property to the department 189 relieve holders of all liability; authorizing the 190 department to refund and redeliver certain money and 191 property under certain circumstances; amending s. 192 717.123, F.S.; revising the maximum amount that the 193 department shall retain from funds of unclaimed 194 property to make certain payment; amending s. 195 717.1242, F.S.; revising legislative intent; providing 196 circumstances under which the department is considered 197 an interested party in probate proceedings; amending 198 s. 717.1243, F.S.; revising applicability of certain 199 provisions relating to unclaimed small estate 200 accounts; amending s. 717.1245, F.S.; specifying the 201 fees, costs, and compensation that persons filing 202 petitions for writ of garnishment of unclaimed 203 property must pay; requiring such persons to file 204 claims with the department under a specified 205 circumstance; amending s. 717.129, F.S.; revising the 206 requirements and the tolling for the periods of 207 limitation relating to duties of holders of unclaimed 208 funds and property; amending s. 717.1301, F.S.; 209 revising the department’s authorities on the 210 disposition of unclaimed funds and property for 211 specified purposes; prohibiting certain materials from 212 being disclosed or made public under certain 213 circumstances; revising the basis for the department’s 214 cost assessment against holders of unclaimed funds and 215 property; amending s. 717.1311, F.S.; revising the 216 recordkeeping requirements for funds and property 217 holders; amending s. 717.1322, F.S.; revising acts 218 that are violations of specified provisions and 219 constitute grounds for administrative enforcement 220 actions and civil enforcement by the department; 221 providing that claimants’ representatives, rather than 222 registrants, are subject to civil enforcement and 223 disciplinary actions for certain violations; amending 224 s. 717.1333, F.S.; conforming provisions to changes 225 made by the act; amending s. 717.134, F.S.; conforming 226 provisions to changes made by the act; amending s. 227 717.135, F.S.; revising the information that certain 228 agreements relating to unclaimed property must 229 disclose; applying certain provisions relating to such 230 agreements to purchasers; deleting a requirement for 231 Unclaimed Property Purchase Agreements; providing 232 nonapplicability; amending s. 717.1400, F.S.; deleting 233 a circumstance under which certain persons must 234 register with the department; amending ss. 197.582 and 235 717.1382, F.S.; conforming cross-references; providing 236 a directive to the Division of Law Revision; providing 237 an appropriation; providing effective dates. 238 239 Be It Enacted by the Legislature of the State of Florida: 240 241 Section 1. Section 17.69, Florida Statutes, is created to 242 read: 243 17.69 Federal tax liaison.— 244 (1) The federal tax liaison position is created within the 245 department. The purpose of the position is to assist the 246 taxpayers of this state as provided in subsection (3). 247 (2) The Chief Financial Officer shall appoint the federal 248 tax liaison. The federal tax liaison reports directly to the 249 Chief Financial Officer but is not otherwise under the authority 250 of the department or of any employee of the department. 251 (3) The federal tax liaison may do all of the following: 252 (a) Assist taxpayers by answering taxpayer questions. 253 (b) Direct taxpayers to the proper departments or offices 254 within the Internal Revenue Service in order to hasten 255 resolution of taxpayer issues. 256 (c) Prepare recommendations for the Internal Revenue 257 Service of any actions that will help resolve problems 258 encountered by taxpayers. 259 (d) Provide information about the policies, practices, and 260 procedures that the Internal Revenue Service uses to ensure 261 compliance with the tax laws. 262 (e) With the consent of the taxpayer, request records from 263 the Internal Revenue Service to assist the liaison in responding 264 to taxpayer inquiries. 265 Section 2. Present paragraphs (g) through (n) of subsection 266 (2) of section 20.121, Florida Statutes, are redesignated as 267 paragraphs (f) through (m), respectively, and paragraph (e) and 268 present paragraph (f) of that subsection are amended, to read: 269 20.121 Department of Financial Services.—There is created a 270 Department of Financial Services. 271 (2) DIVISIONS.—The Department of Financial Services shall 272 consist of the following divisions and office: 273 (e) The Division of Criminal InvestigationsInvestigative274and Forensic Services, which shall function as a criminal 275 justice agency for purposes of ss. 943.045-943.08. The division 276 may initiate and conduct investigations into any matter under 277 the jurisdiction of the Chief Financial Officer and Fire Marshal 278 within or outside of this state as it deems necessary.If,279during an investigation, the division has reason to believe that280any criminal law of this state or the United States has or may281have been violated, it shall refer any records tending to show282such violation to state law enforcement and, if applicable,283federal prosecutorial agencies and shall provide investigative284assistance to those agencies as appropriate. The division shall285include the following bureaus and office:2861.The Bureau of Forensic Services;2872.The Bureau of Fire, Arson, and Explosives288Investigations;2893.The Office of Fiscal Integrity, which shall have a290separate budget;2914.The Bureau of Insurance Fraud; and2925.The Bureau of Workers’ Compensation Fraud.293(f)The Division of Public Assistance Fraud, which shall294function as a criminal justice agency for purposes of ss.295943.045-943.08. The division shall conduct investigations296pursuant to s. 414.411 within or outside of the state as it297deems necessary. If, during an investigation, the division has298reason to believe that any criminal law of the state has or may299have been violated, it shall refer any records supporting such300violation to state or federal law enforcement or prosecutorial301agencies and shall provide investigative assistance to those302agencies as required.303 Section 3. Paragraph (f) of subsection (2) and paragraph 304 (h) of subsection (3) of section 121.0515, Florida Statutes, are 305 amended to read: 306 121.0515 Special Risk Class.— 307 (2) MEMBERSHIP.— 308 (f) Effective July 1, 20242008, the member must be 309 employed by the Department of Law Enforcement in the crime 310 laboratory or by the Division of Criminal InvestigationsState311Fire Marshalin the forensic laboratory and meet the special 312 criteria set forth in paragraph (3)(h). 313 (3) CRITERIA.—A member, to be designated as a special risk 314 member, must meet the following criteria: 315 (h) Effective July 1, 20242008, the member must be 316 employed by the Department of Law Enforcement in the crime 317 laboratory or by the Division of Criminal InvestigationsState318Fire Marshalin the forensic laboratory in one of the following 319 classes: 320 1. Forensic technologist (class code 8459); 321 2. Crime laboratory technician (class code 8461); 322 3. Crime laboratory analyst (class code 8463); 323 4. Senior crime laboratory analyst (class code 8464); 324 5. Crime laboratory analyst supervisor (class code 8466); 325 6. Forensic chief (class code 9602); or 326 7. Forensic services quality manager (class code 9603); 327 Section 4. Section 215.5586, Florida Statutes, is amended 328 to read: 329 215.5586 My Safe Florida Home Program.—There is established 330 within the Department of Financial Services the My Safe Florida 331 Home Program. The department shall provide fiscal 332 accountability, contract management, and strategic leadership 333 for the program, consistent with this section. This section does 334 not create an entitlement for property owners or obligate the 335 state in any way to fund the inspection or retrofitting of 336 residential property in this state. Implementation of this 337 program is subject to annual legislative appropriations. It is 338 the intent of the Legislature that, subject to the availability 339 of funds, the My Safe Florida Home Program provide licensed 340 inspectors to perform inspections for eligible homesowners of341site-built, single-family, residential propertiesand grants to 342 fund hurricane mitigation projects for those homeseligible343applicants. The department shall implement the program in such a 344 manner that the total amount of funding requested by accepted 345 applications, whether for inspections, grants, or other services 346 or assistance, does not exceed the total amount of available 347 funds. If, after applications are processed and approved, funds 348 remain available, the department may accept applications up to 349 the available amount. The program shall develop and implement a 350 comprehensive and coordinated approach for hurricane damage 351 mitigation that may include the following: 352 (1) HURRICANE MITIGATION INSPECTIONS.— 353 (a) To be eligible for a hurricane mitigation inspection, 354 all of the following criteria must be met: 355 1. The home must be a single-family, detached residential 356 property or a townhouse, as defined in s. 481.203. 357 2. The home must be site-built and owner-occupied. 358 3. The homeowner must have been granted a homestead 359 exemption on the home under chapter 196. 360 (b) An application for an inspection must contain a signed 361 or electronically verified statement made under penalty of 362 perjury that the applicant has submitted only a single 363 inspection application and must have attached documents 364 demonstrating that the applicant meets the requirements of 365 paragraph (a). An applicant may submit a new inspection 366 application if all of the following criteria are met: 367 1. The original application has already been denied or 368 withdrawn. 369 2. The program’s eligibility requirements or applicant’s 370 qualifications have changed since the original application date. 371 3. The applicant reasonably believes that the home will be 372 eligible under the new requirements or qualifications. 373 (c) An applicant who meets the requirements of paragraph 374 (a) may apply for and receive an inspection without also 375 applying for a grant pursuant to subsection (2) and without 376 meeting the requirements of paragraph (2)(a). 377 (d)(a)Licensed inspectors are to provide home inspections 378 of eligible homessite-built, single-family, residential379properties for which a homestead exemption has been granted,to 380 determine what mitigation measures are needed, what insurance 381 premium discounts may be available, and what improvements to 382 existing residential properties are needed to reduce the 383 property’s vulnerability to hurricane damage.An inspector may384inspect a townhouse as defined in s. 481.203 to determine if385opening protection mitigation as listed in paragraph (2)(e)386would provide improvements to mitigate hurricane damage.387 (e)(b)The Department of Financial Services shall contract 388 with wind certification entities to provide hurricane mitigation 389 inspections. The inspections provided to homeowners, at a 390 minimum, must include: 391 1. A home inspection and report that summarizes the results 392 and identifies recommended improvements a homeowner may take to 393 mitigate hurricane damage. 394 2. A range of cost estimates regarding the recommended 395 mitigation improvements. 396 3. Information regarding estimated premium discounts, 397 correlated to the current mitigation features and the 398 recommended mitigation improvements identified by the 399 inspection. 400 (f)(c)To qualify for selection by the department as a wind 401 certification entity to provide hurricane mitigation 402 inspections, the entity must, at a minimum, meet the following 403 requirements: 404 1. Use hurricane mitigation inspectors who are licensed or 405 certified as: 406 a. A building inspector under s. 468.607; 407 b. A general, building, or residential contractor under s. 408 489.111; 409 c. A professional engineer under s. 471.015; 410 d. A professional architect under s. 481.213; or 411 e. A home inspector under s. 468.8314 and who have 412 completed at least 3 hours of hurricane mitigation training 413 approved by the Construction Industry Licensing Board, which 414 training must include hurricane mitigation techniques, 415 compliance with the uniform mitigation verification form, and 416 completion of a proficiency exam. 417 2. Use hurricane mitigation inspectors who also have 418 undergone drug testing and a background screening. The 419 department may conduct criminal record checks of inspectors used 420 by wind certification entities. Inspectors must submit a set of 421 fingerprints to the department for state and national criminal 422 history checks and must pay the fingerprint processing fee set 423 forth in s. 624.501. The fingerprints must be sent by the 424 department to the Department of Law Enforcement and forwarded to 425 the Federal Bureau of Investigation for processing. The results 426 must be returned to the department for screening. The 427 fingerprints must be taken by a law enforcement agency, 428 designated examination center, or other department-approved 429 entity. 430 3. Provide a quality assurance program including a 431 reinspection component. 432(d)An application for an inspection must contain a signed433or electronically verified statement made under penalty of434perjury that the applicant has submitted only a single435application for that home.436(e)The owner of a site-built, single-family, residential437property or townhouse as defined in s. 481.203, for which a438homestead exemption has been granted, may apply for and receive439an inspection without also applying for a grant pursuant to440subsection (2) and without meeting the requirements of paragraph441(2)(a).442 (2) HURRICANE MITIGATION GRANTS.—Financial grants must 443shallbe usedto encourage single-family, site-built, owner444occupied, residential property ownersto retrofit eligible homes 445 based on the recommendations made in a hurricane mitigation 446 inspectiontheir propertiesto make the homesthemless 447 vulnerable to hurricane damage. 448 (a)For a homeownerTo be eligible for a grant, all of the 449 following criteria must be met: 450 1. The home must be a single-family, detached residential 451 property or a townhouse, as defined in s. 481.203. 452 2. The home must be site-built and owner-occupied. 453 3.1.The homeowner must have been granted a homestead 454 exemption on the home under chapter 196. 455 4.2.The home must be a dwelling with an insured value of 456 $700,000 or less. Homeowners who are low-income persons, as 457 defined in s. 420.0004(11), are exempt from this requirement. 458 5.3.The home must undergo an acceptable hurricane 459 mitigation inspection as provided in subsection (1). 460 6.4.The building permit application for initial 461 construction of the home must have been made before January 1, 462 2008. 463 7.5.The homeowner must agree to make his or her home 464 available for inspection once a mitigation project is completed. 465 (b)1. An application for a grant must contain a signed or 466 electronically verified statement made under penalty of perjury 467 that the applicant has submitted only a single grant application 468 and must have attached documents demonstrating that the 469 applicant meets the requirements ofthisparagraph (a). 470 2. An applicant may submit a new grant application if all 471 of the following criteria are met: 472 a. The original application has already been denied or 473 withdrawn. 474 b. The program’s eligibility requirements or applicant’s 475 qualifications have changed since the original application date. 476 c. The applicant reasonably believes that the home will be 477 eligible under the new requirements or qualifications. 478 (c)(b)All grants must be matched on the basis of $1 479 provided by the applicant for $2 provided by the state up to a 480 maximum state contribution of $10,000 toward the actual cost of 481 the mitigation project. 482 (d)(c)The program shall requirecreate a process in which483contractors agree to participate and homeowners select from a484list of participating contractors. Allmitigation work tomust485 be based upon the securing of all required local permits and 486 inspections, and the work must be performed by properly licensed 487 contractors. The program shall approve only a homeowner grant 488 application that includes an acknowledged statement from the 489 homeowner containing the name and state license number of the 490 contractor the homeowner intends to use for the mitigation work. 491 The program must electronically verify that the contractor’s 492 state license number is accurate and up to date before grant 493 approvalHurricane mitigation inspectors qualifying for the494program may also participate as mitigation contractors as long495as the inspectors meet the department’s qualifications and496certification requirements for mitigation contractors. 497(d)Matching fund grants shall also be made available to498local governments and nonprofit entities for projects that will499reduce hurricane damage to single-family, site-built, owner500occupied, residential property. The department shall liberally501construe those requirements in favor of availing the state of502the opportunity to leverage funding for the My Safe Florida Home503Program with other sources of funding.504 (e) When recommended by a hurricane mitigation inspection, 505 grants for eligible homes may be used for the following 506 improvements: 507 1. Opening protection, including windows, skylights, 508 exterior doors, and garage doors. 509 2. Exterior doors, including garage doors. 510 3. Reinforcing roof-to-wall connections. 511 4. Improving the strength of roof-deck attachments. 512 5. Secondary Water Resistance (SWR) barrier for roof. 513 (f) When recommended by a hurricane mitigation inspection, 514 grants for townhouses, as defined in s. 481.203, may only be 515 used for opening protection. 516 (g) The department may require that improvements be made to 517 all openings, including exterior doors and garage doors, as a 518 condition of reimbursing a homeowner approved for a grant. The 519 department may adopt, by rule, the maximum grant allowances for 520 any improvement allowable under paragraph (e) or this paragraph. 521(g)Grants may be used on a previously inspected existing522structure or on a rebuild. A rebuild is defined as a site-built,523single-family dwelling under construction to replace a home that524was destroyed or significantly damaged by a hurricane and deemed525unlivable by a regulatory authority. The homeowner must be a526low-income homeowner as defined in paragraph (h), must have had527a homestead exemption for that home before the hurricane, and528must be intending to rebuild the home as that homeowner’s529homestead.530 (h) Low-income homeowners, as defined in s. 420.0004(11), 531 who otherwise meet the requirements of this subsection 532paragraphs (a), (c), (e), and (g)are eligible for a grant of up 533 to $10,000 and are not required to provide a matching amount to 534 receive the grant. The program may accept a certification 535 directly from a low-income homeowner that the homeowner meets 536 the requirements of s. 420.0004(11) if the homeowner provides 537 such certification in a signed or electronically verified 538 statement made under penalty of perjury. 539 (i) The department shall develop a process that ensures the 540 most efficient means to collect and verify grant applications to 541 determine eligibility and may direct hurricane mitigation 542 inspectors to collect and verify grant application information 543 or use the Internet or other electronic means to collect 544 information and determine eligibility. 545 (j) Homeowners must finalize construction and request a 546 final inspection, or request an extension for an additional 6 547 months, within 1 year after grant approval. If the homeowners 548 fail to comply, the application shall be deemed abandoned and 549 the grant money reverts back to the department. 550 (3) REQUESTS FOR INFORMATION.—The department may request 551 that the applicant provide additional information. An 552 application shall be deemed withdrawn by the applicant if the 553 department does not receive a response to its request for 554 additional information within 60 days after the notification of 555 any apparent errors or omissions. 556 (4)(3)EDUCATION, CONSUMER AWARENESS, AND OUTREACH.— 557 (a) The department may undertake a statewide multimedia 558 public outreach and advertising campaign to inform consumers of 559 the availability and benefits of hurricane inspections and of 560 the safety and financial benefits of residential hurricane 561 damage mitigation. The department may seek out and use local, 562 state, federal, and private funds to support the campaign. 563 (b) The program may develop brochures for distribution to 564 Citizens Property Insurance Corporation,and other licensed 565 entities or nonprofits that work with the department to educate 566 the public on the benefits of the programgeneral contractors,567roofing contractors, and real estate brokers and sales568associates who are licensed under part I of chapter 475 which569provide information on the benefits to homeowners of residential570hurricane damage mitigation. Citizens Property Insurance 571 Corporation is encouraged to distribute the brochure to 572 policyholders of the corporation.Contractors are encouraged to573distribute the brochures to homeowners at the first meeting with574a homeowner who is considering contracting for home or roof575repair or contracting for the construction of a new home. Real576estate brokers and sales associates are encouraged to distribute577the brochure to clients before the purchase of a home.The 578 brochures may be made available electronically. 579 (5)(4)FUNDING.—The department may seek out and leverage 580 local, state, federal, or private funds to enhance the financial 581 resources of the program. 582 (6)(5)RULES.—The Department of Financial Services shall 583 adopt rules pursuant to ss. 120.536(1) and 120.54 to govern the 584 program; implement the provisions of this section; including 585 rules governing hurricane mitigation inspections and grants, 586 mitigation contractors, and training of inspectors and 587 contractors; and carry out the duties of the department under 588 this section. 589 (7)(6)HURRICANE MITIGATION INSPECTOR LIST.—The department 590 shall develop and maintain as a public record a current list of 591 hurricane mitigation inspectors authorized to conduct hurricane 592 mitigation inspections pursuant to this section. 593 (8)(7)CONTRACT MANAGEMENT.— 594 (a) The department may contract with third parties for 595 grants management, inspection services, contractor services for 596 low-income homeowners, information technology, educational 597 outreach, and auditing services. Such contracts are considered 598 direct costs of the program and are not subject to 599 administrative cost limits. The department shall contract with 600 providers that have a demonstrated record of successful business 601 operations in areas directly related to the services to be 602 provided and shall ensure the highest accountability for use of 603 state funds, consistent with this section. 604 (b) The department shall implement a quality assurance and 605 reinspection program that determines whether mitigationinitial606 inspections and mitigation projectshome improvementsare 607 completed in a manner consistent with the intent of the program. 608 The department may use valid random sampling in order to perform 609 the quality assurance portion of the program. 610 (9)(8)INTENT.—It is the intent of the Legislature that 611 grants made to residential property owners under this section 612 shall be considered disaster-relief assistance within the 613 meaning of s. 139 of the Internal Revenue Code of 1986, as 614 amended. 615 (10)(9)REPORTS.—The department shall make an annual report 616 on the activities of the program that shall account for the use 617 of state funds and indicate the number of inspections requested, 618 the number of inspections performed, the number of grant 619 applications received, the number and value of grants approved, 620 and the estimated average annual amount of insurance premium 621 discounts and total estimated annual amount of insurance premium 622 discounts homeowners received from insurers as a result of 623 mitigation funded through the program. The report must be 624 delivered to the President of the Senate and the Speaker of the 625 House of Representatives by February 1 of each year. 626 Section 5. Subsection (6) of section 284.44, Florida 627 Statutes, is amended to read: 628 284.44 Salary indemnification costs of state agencies.— 629(6)The Division of Risk Management shall prepare quarterly630reports to the Executive Office of the Governor and the chairs631of the legislative appropriations committees indicating for each632state agency the total amount of salary indemnification benefits633paid to claimants and the total amount of reimbursements from634state agencies to the State Risk Management Trust Fund for635initial costs for the previous quarter. These reports shall also636include information for each state agency indicating the number637of cases and amounts of initial salary indemnification costs for638which reimbursement requirements were waived by the Executive639Office of the Governor pursuant to this section.640 Section 6. Paragraph (a) of subsection (12) of section 641 440.13, Florida Statutes, is amended to read: 642 440.13 Medical services and supplies; penalty for 643 violations; limitations.— 644 (12) CREATION OF THREE-MEMBER PANEL; GUIDES OF MAXIMUM 645 REIMBURSEMENT ALLOWANCES.— 646 (a) A three-member panel is created, consisting of the 647 Chief Financial Officer, or the Chief Financial Officer’s 648 designee, and two members to be appointed by the Governor, 649 subject to confirmation by the Senate, one member who, on 650 account of present or previous vocation, employment, or 651 affiliation, shall be classified as a representative of 652 employers, the other member who, on account of previous 653 vocation, employment, or affiliation, shall be classified as a 654 representative of employees. The panel shall determine statewide 655 schedules of maximum reimbursement allowances for medically 656 necessary treatment, care, and attendance provided by hospitals 657 and ambulatory surgical centers. The maximum reimbursement 658 allowances for inpatient hospital care shall be based on a 659 schedule of per diem rates, to be approved by the three-member 660 panel no later than March 1, 1994, to be used in conjunction 661 with a precertification manual as determined by the department, 662 including maximum hours in which an outpatient may remain in 663 observation status, which shall not exceed 23 hours. All 664 compensable charges for hospital outpatient care shall be 665 reimbursed at 75 percent of usual and customary charges, except 666 as otherwise provided by this subsection. Annually, the three 667 member panel shall adopt schedules of maximum reimbursement 668 allowances for hospital inpatient care, hospital outpatient 669 care, and ambulatory surgical centers. A hospital or an 670 ambulatory surgical center shall be reimbursed either the 671 agreed-upon contract price or the maximum reimbursement 672 allowance in the appropriate schedule. Reimbursement for 673 emergency services and care, as defined in s. 395.002, without a 674 maximum reimbursement allowance must be at 75 percent of the 675 hospital’s charge, unless there is a contract, in which case the 676 contract governs reimbursement. 677 678 The department, as requested, shall provide data to the panel, 679 including, but not limited to, utilization trends in the 680 workers’ compensation health care delivery system. The 681 department shall provide the panel with an annual report 682 regarding the resolution of medical reimbursement disputes and 683 any actions pursuant to subsection (8). The department shall 684 provide administrative support and service to the panel to the 685 extent requested by the panel. For prescription medication 686 purchased under the requirements of this subsection, a 687 dispensing practitioner shall not possess such medication unless 688 payment has been made by the practitioner, the practitioner’s 689 professional practice, or the practitioner’s practice management 690 company or employer to the supplying manufacturer, wholesaler, 691 distributor, or drug repackager within 60 days of the dispensing 692 practitioner taking possession of that medication. 693 Section 7. Present subsections (9) through (13) of section 694 440.385, Florida Statutes, are redesignated as subsections (10) 695 through (14), respectively, and a new subsection (9) is added to 696 that section, to read: 697 440.385 Florida Self-Insurers Guaranty Association, 698 Incorporated.— 699 (9) CONTRACTS AND PURCHASES.— 700 (a) After July 1, 2024, all contracts entered into, and all 701 purchases made by, the association pursuant to this section 702 which are valued at or more than $100,000 must first be approved 703 by the department. The department has 10 days to approve or deny 704 the contract or purchase upon electronic receipt of the approval 705 request. The contract or purchase is automatically approved if 706 the department is nonresponsive. 707 (b) All contracts and purchases valued at or more than 708 $100,000 require competition through a formal bid solicitation 709 conducted by the association. The association must undergo a 710 formal bid solicitation process. The formal bid solicitation 711 process must include all of the following: 712 1. The time and date for the receipt of bids, the 713 proposals, and whether the association contemplates renewal of 714 the contract, including the price for each year for which the 715 contract may be renewed. 716 2. All the contractual terms and conditions applicable to 717 the procurement. 718 (c) Evaluation of bids by the association must include 719 consideration of the total cost for each year of the contract, 720 including renewal years, as submitted by the vendor. The 721 association must award the contract to the most responsible and 722 responsive vendor. Any formal bid solicitation conducted by the 723 association must be made available, upon request, to the 724 department via electronic delivery. 725 Section 8. Present subsection (7) of section 497.101, 726 Florida Statutes, is redesignated as subsection (11), 727 subsections (1) through (4) are amended, and a new subsection 728 (7) and subsections (8), (9), and (10) are added to that 729 section, to read: 730 497.101 Board of Funeral, Cemetery, and Consumer Services; 731 membership; appointment; terms.— 732 (1) The Board of Funeral, Cemetery, and Consumer Services 733 is created within the Department of Financial Services and shall 734 consist of 10 members, 9 of whom shall be appointed bythe735Governor from nominations made bythe Chief Financial Officer 736and confirmed by the Senate.The Chief Financial Officer shall737nominate one to three persons for each of the nine vacancies on738the board, and the Governor shall fill each vacancy on the board739by appointing one of the persons nominated by the Chief740Financial Officer to fill that vacancy. If the Governor objects741to each of the nominations for a vacancy, she or he shall inform742the Chief Financial Officer in writing. Upon notification of an743objection by the Governor, the Chief Financial Officer shall744submit one to three additional nominations for that vacancy745until the vacancy is filled.One member must be the State Health 746 Officer or her or his designee. 747 (2) Two members of the board must be funeral directors 748 licensed under part III of this chapter who are associated with 749 a funeral establishment. One member of the board must be a 750 funeral director licensed under part III of this chapter who is 751 associated with a funeral establishment licensed under part III 752 of this chapter which has a valid preneed license issued 753 pursuant to this chapterand who owns or operates a cinerator754facility approved under chapter 403 and licensed under part VI755of this chapter. Two members of the board must be persons whose 756 primary occupation is associated with a cemetery company 757 licensed pursuant to this chapter. Two members of the board must 758 be consumers who are residents of this state, have never been 759 licensed as funeral directors or embalmers, are not connected 760 with a cemetery or cemetery company licensed pursuant to this 761 chapter, and are not connected with the death care industry or 762 the practice of embalming, funeral directing, or direct 763 disposition. One of the two consumer members must be at least 60 764 years of age. One member of the board must be a consumer who is 765 a resident of this state; is licensed as a certified public 766 accountant under chapter 473; has never been licensed as a 767 funeral director or an embalmer; is not a principal or an 768 employee of any licensee licensed under this chapter; and does 769 not otherwise have control, as defined in s. 497.005, over any 770 licensee licensed under this chapter. One member of the board 771 must be a principal of a monument establishment licensed under 772 this chapter as a monument builder. One member must be the State 773 Health Officer or her or his designee. There may not be two or 774 more board members who are principals or employees of the same 775 company or partnership or group of companies or partnerships 776 under common control. 777 (3) Board members shall be appointed for terms of 4 years 778 and may be reappointed; however, a member may not serve for more 779 than 8 consecutive years., andThe State Health Officer shall 780 serve as long as that person holds that office. The designee of 781 the State Health Officer shall serve at the pleasure of the 782 Chief Financial OfficerGovernor. 783 (4) The Chief Financial OfficerGovernor may suspend and784the Senatemay remove any board member for malfeasance or 785 misfeasance, neglect of duty, incompetence, substantial 786 inability to perform official duties, commission of a crime, or 787 other substantial cause as determined by the Chief Financial 788 OfficerGovernor or Senate, as applicable,to evidence a lack of 789 fitness to sit on the board. A board member shall be deemed to 790 have resigned her or his board membership, and that position 791 shall be deemed vacant, upon the failure of the member to attend 792 three consecutive meetings of the board or at least half of the 793 meetings of the board during any 12-month period, unless the 794 Chief Financial Officer determines that there was good and 795 adequate justification for the absences and that such absences 796 are not likely to continue. Any vacancy so created shall be 797 filled as provided in subsection (1). 798 (7) Members of the board are subject to the code of ethics 799 under part III of chapter 112. For purposes of applying part III 800 of chapter 112 to activities of the members of the board, those 801 persons are considered public officers, and the department is 802 considered their agency. A board member may not vote on any 803 measure that would inure to his or her special private gain or 804 loss and, in accordance with s. 112.3143(2), may not vote on any 805 measure that he or she knows would inure to the special private 806 gain or loss of any principal by which he or she is retained, 807 other than an agency as defined in s. 112.312; or that he or she 808 knows would inure to the special private gain or loss of his or 809 her relative or business associate. Before the vote is taken, 810 such member shall publicly state to the board the nature of his 811 or her interest in the matter from which he or she is abstaining 812 from voting and, within 15 days after the vote occurs, disclose 813 the nature of his or her interest as a public record in a 814 memorandum filed with the person responsible for recording the 815 minutes of the meeting, who shall incorporate the memorandum in 816 the minutes. 817 (8) In accordance with ss. 112.3148 and 112.3149, a board 818 member may not knowingly accept, directly or indirectly, any 819 gift or expenditure from a person or entity, or an employee or 820 representative of such person or entity, which has a contractual 821 relationship with the department or the board, which is under 822 consideration for a contract, or which is licensed by the 823 department. 824 (9) A board member who fails to comply with subsection (7) 825 or subsection (8) is subject to the penalties provided under ss. 826 112.317 and 112.3173. 827 (10)(a) All meetings of the board are subject to the 828 requirements of s. 286.011, and all books and records of the 829 board are open to the public for reasonable inspection except as 830 otherwise provided by s. 497.172 or other applicable law. 831 (b) Except for emergency meetings, the department shall 832 give notice of any board meeting by publication on the 833 department’s website at least 7 days before the meeting. The 834 department shall publish a meeting agenda on its website at 835 least 7 days before the meeting. The agenda must contain the 836 items to be considered, in order of presentation. After the 837 agenda has been made available, a change may be made only for 838 good cause, as determined by the person designated to preside, 839 and must be stated in the record. Notification of such change 840 must be at the earliest practicable time. 841 Section 9. Paragraph (a) of subsection (4) of section 842 497.153, Florida Statutes, is amended to read: 843 497.153 Disciplinary procedures and penalties.— 844 (4) ACTION AFTER PROBABLE CAUSE FOUND.— 845 (a) Service of an administrative complaint may be in person 846 by department staff or any person authorized to make service of 847 process under the Florida Rules of Civil Procedure. Service upon 848 a licensee may in the alternative be made by certified mail, 849 return receipt requested, to the last known address of record 850 provided by the licensee to the department. If service by 851 certified mail cannot be made at the last address provided by 852 the licensee to the department, service may be made by e-mail, 853 delivery receipt required, sent to the most recent e-mail 854 address provided by the licensee to the department in accordance 855 with s. 497.146. 856 Section 10. Paragraph (e) of subsection (1) of section 857 497.155, Florida Statutes, is amended to read: 858 497.155 Disciplinary citations and minor violations.— 859 (1) CITATIONS.— 860 (e) Service of a citation may be made by personal service 861 or certified mail, restricted delivery, to the subject at the 862 subject’s last known address in accordance with s. 497.146. If 863 service by certified mail cannot be made at the last address 864 provided by the subject to the department, service may be made 865 by e-mail, delivery receipt required, sent to the most recent e 866 mail address provided by the subject to the department in 867 accordance with s. 497.146. 868 Section 11. Paragraph (a) of subsection (3) of section 869 624.155, Florida Statutes, is amended to read: 870 624.155 Civil remedy.— 871 (3)(a) As a condition precedent to bringing an action under 872 this section, the department and the authorized insurer must 873 have been given 60 days’ written notice of the violation. Notice 874 to the authorized insurer must be provided by the department to 875 the e-mail address designated by the insurerunder s. 624.422. 876 Section 12. Present paragraphs (c) and (d) of subsection 877 (10) of section 624.307, Florida Statutes, are redesignated as 878 paragraphs (d) and (e), respectively, a new paragraph (c) is 879 added to that subsection, and paragraph (b) of that subsection 880 is amended, to read: 881 624.307 General powers; duties.— 882 (10) 883 (b) Any person licensed or issued a certificate of 884 authority or made an eligible surplus lines insurer by the 885 department or the office shall respond, in writing or 886 electronically, to the division within 14 days after receipt of 887 a written request for documents and information from the 888 division concerning a consumer complaint. The response must 889 address the issues and allegations raised in the complaint and 890 include any requested documents concerning the consumer 891 complaint not subject to attorney-client or work-product 892 privilege. The division may impose an administrative penalty for 893 failure to comply with this paragraph of up to $5,000 per 894 violation upon any entity licensed by the department or the 895 office and up to $1,000 per violation by any individual licensed 896 by the department or the office. 897 (c) Each insurer issued a certificate of authority or made 898 an eligible surplus lines insurer shall file with the department 899 an e-mail address to which requests for response to consumer 900 complaints shall be directed pursuant to paragraph (b). Such 901 insurer shall also designate a contact person for escalated 902 complaint issues and shall provide the name, e-mail address, and 903 telephone number of such person. A licensee of the department, 904 including an agency or a firm, may elect to designate an e-mail 905 address to which requests for response to consumer complaints 906 shall be directed pursuant to paragraph (b). If a licensee, 907 including an agency or a firm, elects not to designate an e-mail 908 address, the department shall direct requests for response to 909 consumer complaints to the e-mail of record for the licensee in 910 the department’s licensing system. An insurer or a licensee, 911 including an agency or a firm, may change designated contact 912 information at any time by submitting the new information to the 913 department using the method designated by rule by the 914 department. 915 Section 13. Subsection (2) of section 626.171, Florida 916 Statutes, is amended to read: 917 626.171 Application for license as an agent, customer 918 representative, adjuster, service representative, or reinsurance 919 intermediary.— 920 (2) In the application, the applicant shall set forth: 921 (a) His or her full name, age, social security number, 922 residence address, business address, mailing address, contact 923 telephone numbers, including a business telephone number, and e 924 mail address. 925 (b) A statement indicating the method the applicant used or 926 is using to meet any required prelicensing education, knowledge, 927 experience, or instructional requirements for the type of 928 license applied for. 929 (c) Whether he or she has been refused or has voluntarily 930 surrendered or has had suspended or revoked a license to solicit 931 insurance by the department or by the supervising officials of 932 any state. 933 (d) Whether any insurer or any managing general agent 934 claims the applicant is indebted under any agency contract or 935 otherwise and, if so, the name of the claimant, the nature of 936 the claim, and the applicant’s defense thereto, if any. 937 (e) Proof that the applicant meets the requirements for the 938 type of license for which he or she is applying. 939 (f) The applicant’s gender (male or female). 940 (g) The applicant’s native language. 941 (h) The highest level of education achieved by the 942 applicant. 943 (i) The applicant’s race or ethnicity (African American, 944 white, American Indian, Asian, Hispanic, or other). 945 (j) Such other or additional information as the department 946 may deem proper to enable it to determine the character, 947 experience, ability, and other qualifications of the applicant 948 to hold himself or herself out to the public as an insurance 949 representative. 950 951 However, the application must contain a statement that an 952 applicant is not required to disclose his or her race or 953 ethnicity, gender, or native language, that he or she will not 954 be penalized for not doing so, and that the department will use 955 this information exclusively for research and statistical 956 purposes and to improve the quality and fairness of the 957 examinations. The department shall make provisions for 958 applicants to submit cellular telephone numbers as part of the 959 application process on a voluntary basis for purpose of two 960 factor authentication of secure login credentials only. 961 Section 14. Paragraph (j) of subsection (2) of section 962 626.221, Florida Statutes, is amended to read: 963 626.221 Examination requirement; exemptions.— 964 (2) However, an examination is not necessary for any of the 965 following: 966 (j) An applicant for license as an all-lines adjuster who 967 has the designation of Accredited Claims Adjuster (ACA) from a 968 regionally accredited postsecondary institution in this state; 969 Certified All Lines Adjuster (CALA) from Kaplan Financial 970 Education; Associate in Claims (AIC) from the Insurance 971 Institute of America; Professional Claims Adjuster (PCA) from 972 the Professional Career Institute; Professional Property 973 Insurance Adjuster (PPIA) from the HurriClaim Training Academy; 974 Certified Adjuster (CA) from ALL LINES Training; Certified 975 Claims Adjuster (CCA) from AE21 Incorporated; Claims Adjuster 976 Certified Professional (CACP) from WebCE, Inc.; Accredited 977 Insurance Claims Specialist (AICS) from Encore Claim Services; 978 Professional in Claims (PIC) from 2021 Training, LLC; Registered 979 Claims Adjuster (RCA) from American Insurance College; or 980 Universal Claims Certification (UCC) from Claims and Litigation 981 Management Alliance (CLM) whose curriculum has been approved by 982 the department and which includes comprehensive analysis of 983 basic property and casualty lines of insurance and testing at 984 least equal to that of standard department testing for the all 985 lines adjuster license. The department shall adopt rules 986 establishing standards for the approval of curriculum. 987 Section 15. Subsection (6) of section 626.601, Florida 988 Statutes, is amended to read: 989 626.601 Improper conduct; inquiry; fingerprinting.— 990 (6) The complaint and any information obtained pursuant to 991 the investigation by the department or office are confidential 992 and are exempt from s. 119.07 unless the department or office 993 files a formal administrative complaint, emergency order, or 994 consent order against the individual or entity. This subsection 995 does not prevent the department or office from disclosing the 996 complaint or such information as it deems necessary to conduct 997 the investigation, to update the complainant as to the status 998 and outcome of the complaint, to review the details of the 999 investigation with the individual or entity or its 1000 representative, or to share such information with any law 1001 enforcement agency or other regulatory body. 1002 Section 16. Subsection (3) of section 626.7351, Florida 1003 Statutes, is amended to read: 1004 626.7351 Qualifications for customer representative’s 1005 license.—The department mayshallnot grant or issue a license 1006 as customer representative to any individual found by it to be 1007 untrustworthy or incompetent, or who does not meet each of the 1008 following qualifications: 1009 (3) Within 4 years preceding the date that the application 1010 for license was filed with the department, the applicant has 1011 earned the designation of Accredited Advisor in Insurance (AAI), 1012 Associate in General Insurance (AINS), or Accredited Customer 1013 Service Representative (ACSR) from the Insurance Institute of 1014 America; the designation of Certified Insurance Counselor (CIC) 1015 from the Society of Certified Insurance Service Counselors; the 1016 designation of Certified Professional Service Representative 1017 (CPSR) from the National Foundation for CPSR; the designation of 1018 Certified Insurance Service Representative (CISR) from the 1019 Society of Certified Insurance Service Representatives; the 1020 designation of Certified Insurance Representative (CIR) from 1021 All-Lines Training; the designation of Chartered Customer 1022 Service Representative (CCSR) from American Insurance College; 1023 the designation of Professional Customer Service Representative 1024 (PCSR) from the Professional Career Institute; the designation 1025 of Insurance Customer Service Representative (ICSR) from 1026 Statewide Insurance Associates LLC; the designation of 1027 Registered Customer Service Representative (RCSR) from a 1028 regionally accredited postsecondary institution in the state 1029 whose curriculum is approved by the department and includes 1030 comprehensive analysis of basic property and casualty lines of 1031 insurance and testing which demonstrates mastery of the subject; 1032 or a degree from an accredited institution of higher learning 1033 approved by the department when the degree includes a minimum of 1034 9 credit hours of insurance instruction, including specific 1035 instruction in the areas of property, casualty, and inland 1036 marine insurance. The department shall adopt rules establishing 1037 standards for the approval of curriculum. 1038 Section 17. Section 626.878, Florida Statutes, is amended 1039 to read: 1040 626.878 Rules; code of ethics.— 1041 (1) An adjuster shall subscribe to the code of ethics 1042 specified in the rules of the department. The rules shall 1043 implement the provisions of this part and specify the terms and 1044 conditions of contracts, including a right to cancel, and 1045 require practices necessary to ensure fair dealing, prohibit 1046 conflicts of interest, and ensure preservation of the rights of 1047 the claimant to participate in the adjustment of claims. 1048 (2) A person licensed as an adjuster must identify himself 1049 or herself in any advertisement, solicitation, or written 1050 document based on the adjuster appointment type held. 1051 (3) An adjuster who has had his or her licensed revoked or 1052 suspended may not participate in any part of an insurance claim 1053 or in the insurance claims adjusting process, including 1054 estimating, completing, filing, negotiating, appraising, 1055 mediating, umpiring, or effecting settlement of a claim for loss 1056 or damage covered under an insurance contract. A person who 1057 provides these services while the person’s license is revoked or 1058 suspended acts as an unlicensed adjuster. 1059 Section 18. Subsection (1) of section 626.929, Florida 1060 Statutes, is amended, and subsection (4) is added to that 1061 section, to read: 1062 626.929 Origination, acceptance, placement of surplus lines 1063 business.— 1064 (1) A licensed and appointed general lines agent while also 1065 licensed and appointed as a surplus lines agent under this part 1066 may originate surplus lines business and may accept surplus 1067 lines business from any other originating Florida-licensed 1068 general lines agent appointed and licensed as to the kinds of 1069 insurance involved and may compensate such agent therefor. 1070 (4) A general lines agent while licensed as a surplus lines 1071 agent under this part may appoint these licenses with a single 1072 surplus license agent appointment pursuant to s. 624.501. Such 1073 agent may only originate surplus lines business and accept 1074 surplus lines business from other originating Florida-licensed 1075 general lines agents appointed and licensed as to the kinds of 1076 insurance involved and may compensate such agent therefor. Such 1077 agent may not be appointed by or transact general lines 1078 insurance on behalf of an admitted insurer. 1079 Section 19. Paragraphs (j) is added to subsection (4) of 1080 section 627.351, Florida Statutes, to read: 1081 627.351 Insurance risk apportionment plans.— 1082 (4) MEDICAL MALPRACTICE RISK APPORTIONMENT; ASSOCIATION 1083 CONTRACTS AND PURCHASES.— 1084 (j)1. After July 1, 2024, all contracts entered into, and 1085 all purchases made by, the association pursuant to this 1086 subsection which are valued at or more than $100,000 must first 1087 be approved by the department. The department has 10 days to 1088 approve or deny a contract or purchase upon electronic receipt 1089 of the approval request. The contract or purchase is 1090 automatically approved if the department is nonresponsive. 1091 2. All contracts and purchases valued at or more than 1092 $100,000 require competition through a formal bid solicitation 1093 conducted by the association. The association must undergo a 1094 formal bid solicitation process by a minimum of three vendors. 1095 The formal bid solicitation process must include all of the 1096 following: 1097 a. The time and date for the receipt of bids, the 1098 proposals, and whether the association contemplates renewal of 1099 the contract, including the price for each year for which the 1100 contract may be renewed. 1101 b. All the contractual terms and conditions applicable to 1102 the procurement. 1103 3. Evaluation of bids by the association must include 1104 consideration of the total cost for each year of the contract, 1105 including renewal years, as submitted by the vendor. The 1106 association must award the contract to the most responsible and 1107 responsive vendor. Any formal bid solicitation conducted by the 1108 association must be made available, upon request, to the 1109 department by electronic delivery. 1110 Section 20. Subsection (2) of section 627.43141, Florida 1111 Statutes, is amended to read: 1112 627.43141 Notice of change in policy terms.— 1113 (2) A renewal policy may contain a change in policy terms. 1114 If such change occurs, the insurer shall give the named insured 1115 advance written notice summarizing the change, which may be 1116 enclosed inalong withthe written notice of renewal premium 1117 required under ss. 627.4133 and 627.728 or sent separately 1118 within the timeframe required under the Florida Insurance Code 1119 for the provision of a notice of nonrenewal to the named insured 1120 for that line of insurance. The insurer must also provide a 1121 sample copy of the notice to the named insured’s insurance agent 1122 before or at the same time that notice is provided to the named 1123 insured. Such notice shall be entitled “Notice of Change in 1124 Policy Terms.” and shall be in bold type of not less than 14 1125 points and included as a single page or consecutive pages, as 1126 necessary, within the written notice. 1127 Section 21. Paragraph (a) of subsection (3) of section 1128 627.70152, Florida Statutes, is amended to read: 1129 627.70152 Suits arising under a property insurance policy.— 1130 (3) NOTICE.— 1131 (a) As a condition precedent to filing a suit under a 1132 property insurance policy, a claimant must provide the 1133 department with written notice of intent to initiate litigation 1134 on a form provided by the department. Such notice must be given 1135 at least 10 business days before filing suit under the policy, 1136 but may not be given before the insurer has made a determination 1137 of coverage under s. 627.70131. Notice to the insurer must be 1138 provided by the department to the e-mail address designated by 1139 the insurerunder s. 624.422. The notice must state with 1140 specificity all of the following information: 1141 1. That the notice is provided pursuant to this section. 1142 2. The alleged acts or omissions of the insurer giving rise 1143 to the suit, which may include a denial of coverage. 1144 3. If provided by an attorney or other representative, that 1145 a copy of the notice was provided to the claimant. 1146 4. If the notice is provided following a denial of 1147 coverage, an estimate of damages, if known. 1148 5. If the notice is provided following acts or omissions by 1149 the insurer other than denial of coverage, both of the 1150 following: 1151 a. The presuit settlement demand, which must itemize the 1152 damages, attorney fees, and costs. 1153 b. The disputed amount. 1154 1155 Documentation to support the information provided in this 1156 paragraph may be provided along with the notice to the insurer. 1157 Section 22. Subsection (5) is added to section 631.59, 1158 Florida Statutes, to read: 1159 631.59 Duties and powers of department and office; 1160 association contracts and purchases.— 1161 (5)(a) After July 1, 2024, all contracts entered into, and 1162 all purchases made by, the association pursuant to this section 1163 which are valued at or more than $100,000 must first be approved 1164 by the department. The department has 10 days to approve or deny 1165 the contract or purchase upon electronic receipt of the approval 1166 request. The contract or purchase is automatically approved if 1167 the department is nonresponsive. 1168 (b) All contracts and purchases valued at or more than 1169 $100,000 require competition through a formal bid solicitation 1170 conducted by the association. The association must undergo a 1171 formal bid solicitation process. The formal bid solicitation 1172 process must include all of the following: 1173 1. The time and date for the receipt of bids, the 1174 proposals, and whether the association contemplates renewal of 1175 the contract, including the price for each year for which the 1176 contract may be renewed. 1177 2. All the contractual terms and conditions applicable to 1178 the procurement. 1179 (c) Evaluation of bids by the association must include 1180 consideration of the total cost for each year of the contract, 1181 including renewal years, as submitted by the vendor. The 1182 association must award the contract to the most responsible and 1183 responsive vendor. Any formal bid solicitation conducted by the 1184 association must be made available, upon request, to the 1185 department via electronic delivery. 1186 Section 23. Subsection (6) is added to section 631.722, 1187 Florida Statutes, to read: 1188 631.722 Powers and duties of department and office; 1189 association contracts and purchases.— 1190 (6)(a) After July 1, 2024, all contracts entered into, and 1191 all purchases made by, the association pursuant to this section 1192 which are valued at or more than $100,000 must first be approved 1193 by the department. The department has 10 days to approve or deny 1194 the contract or purchase upon electronic receipt of the approval 1195 request. The contract or purchase is automatically approved if 1196 the department is nonresponsive. 1197 (b) All contracts and purchases valued at or more than 1198 $100,000 require competition through a formal bid solicitation 1199 conducted by the association. The association must undergo a 1200 formal bid solicitation process. The formal bid solicitation 1201 process must include all of the following: 1202 1. The time and date for the receipt of bids, the 1203 proposals, and whether the association contemplates renewal of 1204 the contract, including the price for each year for which the 1205 contract may be renewed. 1206 2. All the contractual terms and conditions applicable to 1207 the procurement. 1208 (c) Evaluation of bids by the association must include 1209 consideration of the total cost for each year of the contract, 1210 including renewal years, as submitted by the vendor. The 1211 association must award the contract to the most responsible and 1212 responsive vendor. Any formal bid solicitation conducted by the 1213 association must be made available, upon request, to the 1214 department via electronic delivery. 1215 Section 24. Subsection (5) is added to section 631.821, 1216 Florida Statutes, to read: 1217 631.821 Powers and duties of the department; board 1218 contracts and purchases.— 1219 (5)(a) After July 1, 2024, all contracts entered into, and 1220 all purchases made by, the board pursuant to this section which 1221 are valued at or more than $100,000 must first be approved by 1222 the department. The department has 10 days to approve or deny 1223 the contract or purchase upon electronic receipt of the approval 1224 request. The contract or purchase is automatically approved if 1225 the department is nonresponsive. 1226 (b) All contracts and purchases valued at or more than 1227 $100,000 require competition through a formal bid solicitation 1228 conducted by the board. The board must undergo a formal bid 1229 solicitation process. The formal bid solicitation process must 1230 include all of the following: 1231 1. The time and date for the receipt of bids, the 1232 proposals, and whether the board contemplates renewal of the 1233 contract, including the price for each year for which the 1234 contract may be renewed. 1235 2. All the contractual terms and conditions applicable to 1236 the procurement. 1237 (c) Evaluation of bids by the board must include 1238 consideration of the total cost for each year of the contract, 1239 including renewal years, as submitted by the vendor. The plan 1240 must award the contract to the most responsible and responsive 1241 vendor. Any formal bid solicitation conducted by the board must 1242 be made available, upon request, to the department via 1243 electronic delivery. 1244 Section 25. Section 631.921, Florida Statutes, is amended 1245 to read: 1246 631.921 Department powers; board contracts and purchases.— 1247 (1) The corporation shall be subject to examination by the 1248 department. By March 1 of each year, the board of directors 1249 shall cause a financial report to be filed with the department 1250 for the immediately preceding calendar year in a form approved 1251 by the department. 1252 (2)(a) After July 1, 2024, all contracts entered into, and 1253 all purchases made by, the board pursuant to this section which 1254 are valued at or more than $100,000 must first be approved by 1255 the department. The department has 10 days to approve or deny 1256 the contract or purchase upon electronic receipt of the approval 1257 request. The contract or purchase is automatically approved if 1258 the department is nonresponsive. 1259 (b) All contracts and purchases valued at or more than 1260 $100,000 require competition through a formal bid solicitation 1261 conducted by the board. The board must undergo a formal bid 1262 solicitation process. The formal bid solicitation process must 1263 include all of the following: 1264 1. The time and date for the receipt of bids, the 1265 proposals, and whether the board contemplates renewal of the 1266 contract, including the price for each year for which the 1267 contract may be renewed. 1268 2. All the contractual terms and conditions applicable to 1269 the procurement. 1270 (c) Evaluation of bids by the board must include 1271 consideration of the total cost for each year of the contract, 1272 including renewal years, as submitted by the vendor. The 1273 association must award the contract to the most responsible and 1274 responsive vendor. Any formal bid solicitation conducted by the 1275 association must be made available, upon request, to the 1276 department via electronic delivery. 1277 Section 26. Paragraph (b) of subsection (3) of section 1278 633.124, Florida Statutes, is amended to read: 1279 633.124 Penalty for violation of law, rule, or order to 1280 cease and desist or for failure to comply with corrective 1281 order.— 1282 (3) 1283 (b) A person who initiates a pyrotechnic display within any 1284 structure commits a felony of the third degree, punishable as 1285 provided in s. 775.082, s. 775.083, or s. 775.084, unless: 1286 1. The structure has a fire protection system installed in 1287 compliance with s. 633.334. 1288 2. The owner of the structure has authorized in writing the 1289 pyrotechnic display. 1290 3. If the local jurisdiction requires a permit for the use 1291 of a pyrotechnic display in an occupied structure, such permit 1292 has been obtained and all conditions of the permit complied with 1293 or, if the local jurisdiction does not require a permit for the 1294 use of a pyrotechnic display in an occupied structure, the 1295 person initiating the display has complied with National Fire 1296 Protection Association, Inc., Standard 1126, 20212001Edition, 1297 Standard for the Use of Pyrotechnics before a Proximate 1298 Audience. 1299 Section 27. Subsection (2) of section 633.202, Florida 1300 Statutes, is amended to read: 1301 633.202 Florida Fire Prevention Code.— 1302 (2) The State Fire Marshal shall adopt the current edition 1303 of the National Fire Protection Association’s Standard 1, Fire 1304 Prevention Code but may not adopt a building, mechanical, 1305 accessibility, or plumbing code. The State Fire Marshal shall 1306 adopt the current edition of the Life Safety Code, NFPA 101, 1307 current editions, by reference. The State Fire Marshal may 1308 modify the selected codes and standards as needed to accommodate 1309 the specific needs of the state. Standards or criteria in the 1310 selected codes shall be similarly incorporated by reference. The 1311 State Fire Marshal shall incorporate within sections of the 1312 Florida Fire Prevention Code provisions that address uniform 1313 firesafety standards as established in s. 633.206. The State 1314 Fire Marshal shall incorporate within sections of the Florida 1315 Fire Prevention Code provisions addressing regional and local 1316 concerns and variations. 1317 Section 28. Paragraph (b) of subsection (1) of section 1318 633.206, Florida Statutes, is amended to read: 1319 633.206 Uniform firesafety standards.—The Legislature 1320 hereby determines that to protect the public health, safety, and 1321 welfare it is necessary to provide for firesafety standards 1322 governing the construction and utilization of certain buildings 1323 and structures. The Legislature further determines that certain 1324 buildings or structures, due to their specialized use or to the 1325 special characteristics of the person utilizing or occupying 1326 these buildings or structures, should be subject to firesafety 1327 standards reflecting these special needs as may be appropriate. 1328 (1) The department shall establish uniform firesafety 1329 standards that apply to: 1330 (b) All new, existing, and proposed hospitals, nursing 1331 homes, assisted living facilities, adult family-care homes, 1332 correctional facilities, public schools, transient public 1333 lodging establishments, public food service establishments, 1334 mobile food dispensing vehicles, elevators, migrant labor camps, 1335 mobile home parks, lodging parks, recreational vehicle parks, 1336 recreational camps, residential and nonresidential child care 1337 facilities, facilities for the developmentally disabled, motion 1338 picture and television special effects productions, tunnels, 1339 energy storage systems, and self-service gasoline stations, of 1340 which standards the State Fire Marshal is the final 1341 administrative interpreting authority. 1342 1343 In the event there is a dispute between the owners of the 1344 buildings specified in paragraph (b) and a local authority 1345 requiring a more stringent uniform firesafety standard for 1346 sprinkler systems, the State Fire Marshal shall be the final 1347 administrative interpreting authority and the State Fire 1348 Marshal’s interpretation regarding the uniform firesafety 1349 standards shall be considered final agency action. 1350 Section 29. Paragraph (b) of subsection (8) of section 1351 634.041, Florida Statutes, is amended to read: 1352 634.041 Qualifications for license.—To qualify for and hold 1353 a license to issue service agreements in this state, a service 1354 agreement company must be in compliance with this part, with 1355 applicable rules of the commission, with related sections of the 1356 Florida Insurance Code, and with its charter powers and must 1357 comply with the following: 1358 (8) 1359 (b) A service agreement company does not have to establish 1360 and maintain an unearned premium reserve if it secures and 1361 maintains contractual liability insurance in accordance with the 1362 following: 1363 1. Coverage of 100 percent of the claim exposure is 1364 obtained from an insurer or insurers approved by the office, 1365 which holdholdsa certificate of authority under s. 624.401 to 1366 do business within this state, or secured througharisk 1367 retention groupsgroup, which areisauthorized to do business 1368 within this state under s. 627.943 or s. 627.944. Such insurers 1369insureror risk retention groupsgroupmust maintain a surplus 1370 as regards policyholders of at least $15 million. 1371 2. If the service agreement company does not meet its 1372 contractual obligations, the contractual liability insurance 1373 policy binds its issuer to pay or cause to be paid to the 1374 service agreement holder all legitimate claims and cancellation 1375 refunds for all service agreements issued by the service 1376 agreement company while the policy was in effect. This 1377 requirement also applies to those service agreements for which 1378 no premium has been remitted to the insurer. 1379 3. If the issuer of the contractual liability policy is 1380 fulfilling the service agreements covered by the contractual 1381 liability policy and the service agreement holder cancels the 1382 service agreement, the issuer must make a full refund of 1383 unearned premium to the consumer, subject to the cancellation 1384 fee provisions of s. 634.121(3). The sales representative and 1385 agent must refund to the contractual liability policy issuer 1386 their unearned pro rata commission. 1387 4. The policy may not be canceled, terminated, or 1388 nonrenewed by the insurer or the service agreement company 1389 unless a 90-day written notice thereof has been given to the 1390 office by the insurer before the date of the cancellation, 1391 termination, or nonrenewal. 1392 5. The service agreement company must provide the office 1393 with the claims statistics. 1394 6. A policy issued in compliance with this paragraph may 1395 either pay 100 percent of claims as they are incurred, or pay 1396 100 percent of claims due in the event of the failure of the 1397 service agreement company to pay such claims when due. 1398 1399 All funds or premiums remitted to an insurer by a motor vehicle 1400 service agreement company under this part shall remain in the 1401 care, custody, and control of the insurer and shall be counted 1402 as an asset of the insurer; provided, however, this requirement 1403 does not apply when the insurer and the motor vehicle service 1404 agreement company are affiliated companies and members of an 1405 insurance holding company system. If the motor vehicle service 1406 agreement company chooses to comply with this paragraph but also 1407 maintains a reserve to pay claims, such reserve shall only be 1408 considered an asset of the covered motor vehicle service 1409 agreement company and may not be simultaneously counted as an 1410 asset of any other entity. 1411 Section 30. Subsection (5) of section 634.081, Florida 1412 Statutes, is amended to read: 1413 634.081 Suspension or revocation of license; grounds.— 1414 (5) The office shall suspend or revoke the license of a 1415 company if it finds that the ratio of gross written premiums 1416 written to net assets exceeds 10 to 1 unless the company has in 1417 excess of $750,000 in net assets and is utilizing contractual 1418 liability insurance which cedes 100 percent of the service 1419 agreement company’s claims liabilities to the contractual 1420 liability insurersinsureror is utilizing contractual liability 1421 insurance which reimburses the service agreement company for 100 1422 percent of its paid claims. However, if a service agreement 1423 company has been licensed by the office in excess of 10 years, 1424 is in compliance with all applicable provisions of this part, 1425 and has net assets at all times in excess of $3 million that 1426 comply with the provisions of part II of chapter 625, such 1427 company may not exceed a ratio of gross written premiums written 1428 to net assets of 15 to 1. 1429 Section 31. Present subsection (5) of section 634.3077, 1430 Florida Statutes, is redesignated as subsection (6), a new 1431 subsection (5) is added to that section, and subsection (3) of 1432 that section is amended, to read: 1433 634.3077 Financial requirements.— 1434 (3) An association mayshallnot be required to set up an 1435 unearned premium reserve if it has purchased contractual 1436 liability insurance which demonstrates to the satisfaction of 1437 the office that 100 percent of its claim exposure is covered by 1438 such insurance. Such contractual liability insurance shall be 1439 obtained from an insurer or insurers that holdholdsa 1440 certificate of authority to do business within the state or from 1441 an insurer or insurers approved by the office as financially 1442 capable of meeting the obligations incurred pursuant to the 1443 policy. For purposes of this subsection, the contractual 1444 liability policy shall contain the following provisions: 1445 (a) In the event that the home warranty association is 1446 unable to fulfill its obligation under its contracts issued in 1447 this state for any reason, including insolvency, bankruptcy, or 1448 dissolution, the contractual liability insurer will pay losses 1449 and unearned premiums under such plans directly to persons 1450 making claims under such contracts. 1451 (b) The insurer issuing the policy shall assume full 1452 responsibility for the administration of claims in the event of 1453 the inability of the association to do so. 1454 (c) The policy may not be canceled or not renewed byeither1455 the insurer or the association unless 60 days’ written notice 1456 thereof has been given to the office by the insurer before the 1457 date of such cancellation or nonrenewal. 1458 (d) The contractual liability insurance policy shall insure 1459 all home warranty contracts that were issued while the policy 1460 was in effect whether or not the premium has been remitted to 1461 the insurer. 1462 (5) An association licensed under this part is not required 1463 to establish an unearned premium reserve or maintain contractual 1464 liability insurance and may allow its premiums to exceed the 1465 ratio to net assets limitation of this section if the 1466 association complies with the following: 1467 (a) The association or, if the association is a direct or 1468 indirect wholly owned subsidiary of a parent corporation, its 1469 parent corporation has, and maintains at all times, a minimum 1470 net worth of at least $100 million and provides the office with 1471 the following: 1472 1. A copy of the association’s annual audited financial 1473 statements or the audited consolidated financial statements of 1474 the association’s parent corporation, prepared by an independent 1475 certified public accountant in accordance with generally 1476 accepted accounting principles, which clearly demonstrate the 1477 net worth of the association or its parent corporation to be 1478 $100 million, and a quarterly written certification to the 1479 office that the association or its parent corporation continues 1480 to maintain the net worth required under this paragraph. 1481 2. The association’s or its parent corporation’s Form 10-K, 1482 Form 10-Q, or Form 20-F as filed with the United States 1483 Securities and Exchange Commission or such other documents 1484 required to be filed with a recognized stock exchange, which 1485 shall be provided on a quarterly and annual basis within 10 days 1486 after the last date each such report must be filed with the 1487 Securities and Exchange Commission, the National Association of 1488 Security Dealers Automated Quotation system, or other recognized 1489 stock exchange. 1490 1491 Failure to timely file the documents required under this 1492 paragraph may, at the discretion of the office, subject the 1493 association to suspension or revocation of its license under 1494 this part. 1495 (b) If the net worth of a parent corporation is used to 1496 satisfy the net worth provisions of paragraph (a), the following 1497 provisions must be met: 1498 1. The parent corporation must guarantee all service 1499 warranty obligations of the association, wherever written, on a 1500 form approved in advance by the office. A cancellation, 1501 termination, or modification of the guarantee does not become 1502 effective unless the parent corporation provides the office 1503 written notice at least 90 days before the effective date of the 1504 cancellation, termination, or modification and the office 1505 approves the request in writing. Before the effective date of 1506 the cancellation, termination, or modification of the guarantee, 1507 the association must demonstrate to the satisfaction of the 1508 office compliance with all applicable provisions of this part, 1509 including whether the association will meet the requirements of 1510 this section by the purchase of contractual liability insurance, 1511 establishing required reserves, or other method allowed under 1512 this section. If the association or parent corporation does not 1513 demonstrate to the satisfaction of the office compliance with 1514 all applicable provisions of this part, the association or 1515 parent association shall immediately cease writing new and 1516 renewal business upon the effective date of the cancellation, 1517 termination, or modification. 1518 2. The association must maintain at all times net assets of 1519 at least $750,000. 1520 Section 32. Section 634.317, Florida Statutes, is amended 1521 to read: 1522 634.317 License and appointment required.—No person may 1523 solicit, negotiate, or effectuate home warranty contracts for 1524 remuneration in this state unless such person is licensed and 1525 appointed as a sales representative. A licensed and appointed 1526 sales representative shall be directly responsible and 1527 accountable for all acts of the licensee’s employees. An agent 1528 or employee of a municipal or county government is exempt from 1529 these licensing and appointment requirements. 1530 Section 33. Present subsection (9) of section 648.25, 1531 Florida Statutes, is redesignated as subsection (10), and a new 1532 subsection (9) and subsection (11) are added to that section, to 1533 read: 1534 648.25 Definitions.—As used in this chapter, the term: 1535 (9) “Referring bail bond agent” is the limited surety agent 1536 who is appointed with the surety company issuing the transfer 1537 bond that is to be posted in a county where the referring 1538 limited surety agent is not registered. The referring bail bond 1539 agent is the appointed agent held liable for the transfer bond, 1540 along with the issuing surety company. 1541 (11) “Transfer bond” means the appearance bond and power of 1542 attorney form posted by a limited surety agent who is registered 1543 in the county where the defendant is being held in custody, and 1544 who is appointed to represent the same surety company issuing 1545 the appearance bond as the referring bail bond agent. 1546 Section 34. Subsection (3) of section 648.26, Florida 1547 Statutes, is amended to read: 1548 648.26 Department of Financial Services; administration.— 1549 (3) The papers, documents, reports, or any other 1550 investigatory records of the department are confidential and 1551 exempt from s. 119.07(1) until such investigation is completed 1552 or ceases to be active, unless the department or office files a 1553 formal administrative complaint, emergency order, or consent 1554 order against the individual or entity. For the purpose of this 1555 section, an investigation is considered active while the 1556 investigation is being conducted by the department with a 1557 reasonable, good faith belief that it may lead to the filing of 1558 administrative, civil, or criminal proceedings. An investigation 1559 does not cease to be active if the department is proceeding with 1560 reasonable dispatch and there is good faith belief that action 1561 may be initiated by the department or other administrative or 1562 law enforcement agency. This subsection does not prevent the 1563 department or office from disclosing the content of a complaint 1564 or such information as it deems necessary to conduct the 1565 investigation, to update the complainant as to the status and 1566 outcome of the complaint, to review the details of the 1567 investigation with the subject or the subject’s representative, 1568 or to share such information with any law enforcement agency or 1569 other regulatory body. 1570 Section 35. Paragraph (a) of subsection (1) of section 1571 648.30, Florida Statutes, is amended to read: 1572 648.30 Licensure and appointment required; prohibited acts; 1573 penalties.— 1574 (1)(a) A person or entity may not act in the capacity of a 1575 bail bond agent or bail bond agency or perform any of the 1576 functions, duties, or powers prescribed for bail bond agents or 1577 bail bond agencies under this chapter unless that person or 1578 entity is qualified, licensed, and appointed as provided in this 1579 chapterand employed by a bail bond agency. 1580 Section 36. Subsection (1) of section 648.355, Florida 1581 Statutes, is amended to read: 1582 648.355 Limited surety agents and professional bail bond 1583 agents; qualifications.— 1584 (1) The applicant shall furnish, with the application for 1585 license, a complete set of the applicant’s fingerprints in 1586 accordance with s. 626.171(4)and a recent credential-sized,1587fullface photograph of the applicant. The department may not 1588 issue a license under this section until the department has 1589 received a report from the Department of Law Enforcement and the 1590 Federal Bureau of Investigation relative to the existence or 1591 nonexistence of a criminal history report based on the 1592 applicant’s fingerprints. 1593 Section 37. Subsection (3) of section 648.43, Florida 1594 Statutes, is amended to read: 1595 648.43 Power of attorney; approval by office; filing of 1596 copies; notification of transfer bond.— 1597 (3) Every bail bond agent who executes or countersigns a 1598 transfer bond shall indicate in writing on the bond the name, 1599andaddress, and license number of the referring bail bond 1600 agent. 1601 Section 38. Section 717.101, Florida Statutes, is amended 1602 to read: 1603 717.101 Definitions.—As used in this chapter, unless the 1604 context otherwise requires: 1605 (1) “Aggregate” means the amounts reported for owners of 1606 unclaimed property of less than $50 or where there is no name 1607 for the individual or entity listed on the holder’s records, 1608 regardless of the amount to be reported. 1609 (2) “Apparent owner” means the person whose name appears on 1610 the records of the holder as the person entitled to property 1611 held, issued, or owing by the holder. 1612 (3) “Audit” means an action or proceeding to examine and 1613 verify a person’s records, books, accounts, and other documents 1614 to ascertain and determine compliance with this chapter. 1615 (4) “Audit agent” means a person with whom the department 1616 enters into a contract with to conduct an audit or examination. 1617 The term includes an independent contractor of the person and 1618 each individual participating in the audit on behalf of the 1619 person or contractor. 1620 (5)(3)“Banking organization” means any and all banks, 1621 trust companies, private bankers, savings banks, industrial 1622 banks, safe-deposit companies, savings and loan associations, 1623 credit unions, and investment companies in this state, organized 1624 under or subject to the laws of this state or of the United 1625 States, including entities organized under 12 U.S.C. s. 611, but 1626 does not include Federal Reserve Banks. The term also includes 1627 any corporation, business association, or other organization 1628 that: 1629 (a) Is a wholly or partially owned subsidiary of any 1630 banking, banking corporation, or bank holding company that 1631 performs any or all of the functions of a banking organization; 1632 or 1633 (b) Performs functions pursuant to the terms of a contract 1634 with any banking organizationstate or national bank,1635international banking entity or similar entity, trust company,1636savings bank, industrial savings bank, land bank, safe-deposit1637company, private bank, or any organization otherwise defined by1638law as a bank or banking organization. 1639 (6)(4)“Business association” means any for-profit or 1640 nonprofit corporation other than a public corporation; joint 1641 stock company; investment company; unincorporated association or 1642 association of two or more individuals for business purposes, 1643 whether or not for profit; partnership; joint venture; limited 1644 liability company; sole proprietorship; business trust; trust 1645 company; land bank; safe-deposit company; safekeeping 1646 depository; financial organization; insurance company; federally 1647 chartered entity; utility company; or other business entity, 1648 whether or not for profitcorporation (other than a public1649corporation), joint stock company, investment company, business1650trust, partnership, limited liability company, or association of1651two or more individuals for business purposes, whether for1652profit or not for profit. 1653 (7)(5)“Claimant” means the person on whose behalf a claim 1654 is filed. 1655 (8) “Claimant’s representative” means an attorney who is a 1656 member in good standing of The Florida Bar, a certified public 1657 accountant licensed in this state, or private investigator who 1658 is duly licensed to do business in the state, registered with 1659 the department, and authorized by the claimant to claim 1660 unclaimed property on the claimant’s behalf. The term does not 1661 include a person acting in a representative capacity, such as a 1662 personal representative, guardian, trustee, or attorney, whose 1663 representation is not contingent upon the discovery or location 1664 of unclaimed property; provided, however, that any agreement 1665 entered into for the purpose of evading s. 717.135 is invalid 1666 and unenforceable. 1667 (9)(6)“Credit balance” means an account balance in the 1668 customer’s favor. 1669 (10)(7)“Department” means the Department of Financial 1670 Services. 1671 (11)(8)“Domicile” means the state of incorporation for a 1672 corporation; the state of filing for a business association, 1673 other than a corporation, whose formation or organization 1674 requires a filing with a state; the state of organization for a 1675 business association, other than a corporation, whose formation 1676 or organization does not require a filing with a state; or the 1677 state of home office for a federally charted entityincorporated1678under the laws of a state, or, for an unincorporated business1679association, the state where the business association is1680organized. 1681 (12)(9)“Due diligence” means the use of reasonable and 1682 prudent methods under particular circumstances to locate 1683 apparent owners of inactive accounts using the taxpayer 1684 identification number or social security number, if known, which 1685 may include, but are not limited to, using a nationwide 1686 database, cross-indexing with other records of the holder, 1687 mailing to the last known address unless the last known address 1688 is known to be inaccurate, providing written notice as described 1689 in this chapter by electronic mail if an apparent owner has 1690 elected such delivery, or engaging a licensed agency or company 1691 capable of conducting such search and providing updated 1692 addresses. 1693 (13) “Electronic” means relating to technology having 1694 electrical, digital, magnetic, wireless, optical, 1695 electromagnetic, or similar capabilities. 1696 (14)(10)“Financial organization” means astate or federal1697 savings association, savings and loan association, savings bank, 1698 industrial bank, bank, banking organization, trust company, 1699 international bank agency, cooperative bank, building and loan 1700 association, or credit union. 1701 (15)(11)“Health care provider” means any state-licensed 1702 entity that provides and receives payment for health care 1703 services. These entities include, but are not limited to, 1704 hospitals, outpatient centers, physician practices, and skilled 1705 nursing facilities. 1706 (16)(12)“Holder” means: 1707 (a) A person, wherever organized or domiciled,who is in 1708 possession or control or has custody of property or the rights 1709 to property belonging to another; is indebted to another on an 1710 obligation; or is obligated to hold for the account of, or to 1711 deliver or pay to, the owner, property subject to this chapter; 1712 or:1713(a)In possession of property belonging to another;1714 (b) A trustee in case of a trust; or1715(c)Indebted to another on an obligation. 1716 (17)(13)“Insurance company” means an association, 1717 corporation, or fraternal or mutual benefit organization, 1718 whether for profit or not for profit, which is engaged in 1719 providing insurance coverage. 1720 (18)(14)“Intangible property” includes, by way of 1721 illustration and not limitation: 1722 (a) Moneys, checks, virtual currency, drafts, deposits, 1723 interest, dividends, and income. 1724 (b) Credit balances, customer overpayments, security 1725 deposits and other instruments as defined by chapter 679, 1726 refunds, unpaid wages, unused airline tickets, and unidentified 1727 remittances. 1728 (c) Stocks, and other intangible ownership interests in 1729 business associations. 1730 (d) Moneys deposited to redeem stocks, bonds, bearer bonds, 1731 original issue discount bonds, coupons, and other securities, or 1732 to make distributions. 1733 (e) Amounts due and payable under the terms of insurance 1734 policies. 1735 (f) Amounts distributable from a trust or custodial fund 1736 established under a plan to provide any health, welfare, 1737 pension, vacation, severance, retirement, death, stock purchase, 1738 profit sharing, employee savings, supplemental unemployment 1739 insurance, or similar benefit. 1740 (19)(15)“Last known address” means a description of the 1741 location of the apparent owner sufficient for the purpose of the 1742 delivery of mail. For the purposes of identifying, reporting, 1743 and remitting property to the department which is presumed to be 1744 unclaimed, “last known address” includes any partial description 1745 of the location of the apparent owner sufficient to establish 1746 the apparent owner was a resident of this state at the time of 1747 last contact with the apparent owner or at the time the property 1748 became due and payable. 1749 (20)(16)“Lawful charges” means charges against dormant 1750 accounts that are authorized by statute for the purpose of 1751 offsetting the costs of maintaining the dormant account. 1752 (21)(17)“Managed care payor” means a health care plan that 1753 has a defined system of selecting and limiting health care 1754 providers as evidenced by a managed care contract with the 1755 health care providers. These plans include, but are not limited 1756 to, managed care health insurance companies and health 1757 maintenance organizations. 1758 (22)(18)“Owner” means a person, or the person’s legal 1759 representative, entitled to receive or having a legal or 1760 equitable interest in or claim against property subject to this 1761 chapter; a depositor in the case of a deposit; a beneficiary in 1762 the case of a trust or a deposit in trust; or a payee in the 1763 case of a negotiable instrument or other intangible propertya1764depositor in the case of a deposit, a beneficiary in the case of1765a trust or a deposit in trust, or a payee in the case of other1766intangible property, or a person having a legal or equitable1767interest in property subject to this chapter or his or her legal1768representative. 1769 (23) “Person” means an individual; estate; business 1770 association; corporation; firm; association; joint adventure; 1771 partnership; government or governmental subdivision, agency, or 1772 instrumentality; or any other legal or commercial entity. 1773 (24)(19)“Public corporation” means a corporation created 1774 by the state, founded and owned in the public interest, 1775 supported by public funds, and governed by those deriving their 1776 power from the state. 1777 (25) “Record” means information that is inscribed on a 1778 tangible medium or that is stored in an electronic or other 1779 medium and is retrievable in perceivable form. 1780 (26)(20)“Reportable period” means the calendar year ending 1781 December 31 of each year. 1782 (27)(21)“State,” when applied to a part of the United 1783 States, includes any state, district, commonwealth, territory, 1784 insular possession, and any other area subject to the 1785 legislative authority of the United States. 1786 (28)(22)“Trust instrument” means a trust instrument as 1787 defined in s. 736.0103. 1788(23)“Ultimate equitable owner” means a natural person who,1789directly or indirectly, owns or controls an ownership interest1790in a corporation, a foreign corporation, an alien business1791organization, or any other form of business organization,1792regardless of whether such natural person owns or controls such1793ownership interest through one or more natural persons or one or1794more proxies, powers of attorney, nominees, corporations,1795associations, partnerships, trusts, joint stock companies, or1796other entities or devices, or any combination thereof.1797 (29) “Unclaimed Property Purchase Agreement” means the form 1798 adopted by the department pursuant to s. 717.135 which must be 1799 used, without modification or amendment, by a claimant’s 1800 representative to purchase unclaimed property from an owner. 1801 (30) “Unclaimed Property Recovery Agreement” means the form 1802 adopted by the department pursuant to s. 717.135 which must be 1803 used, without modification or amendment, by a claimant’s 1804 representative to obtain an owner’s consent and authority to 1805 recover unclaimed property on the owner’s behalf. 1806 (31)(24)“United States” means any state, district, 1807 commonwealth, territory, insular possession, and any other area 1808 subject to the legislative authority of the United States of 1809 America. 1810 (32)(25)“Utility” means a person who owns or operates, for 1811 public use, any plant, equipment, property, franchise, or 1812 license for the transmission of communications or the 1813 production, storage, transmission, sale, delivery, or furnishing 1814 of electricity, water, steam, or gas. 1815 (33)(a) “Virtual currency” means digital units of exchange 1816 that: 1817 1. Have a centralized repository or administrator; 1818 2. Are decentralized and have no centralized repository or 1819 administrator; or 1820 3. May be created or obtained by computing or manufacturing 1821 effort. 1822 (b) The term does not include any of the following: 1823 1. Digital units that: 1824 a. Are used solely within online gaming platforms; 1825 b. Have no market or application outside of the online 1826 gaming platforms in sub-subparagraph a.; 1827 c. Cannot be converted into, or redeemed for, fiat currency 1828 or virtual currency; and 1829 d. Can or cannot be redeemed for real-world goods, 1830 services, discounts, or purchases. 1831 2. Digital units that can be redeemed for: 1832 a. Real-world goods, services, discounts, or purchases as 1833 part of a customer affinity or rewards program with the issuer 1834 or other designated merchants; or 1835 b. Digital units in another customer affinity or rewards 1836 program, but cannot be converted into, or redeemed for, fiat 1837 currency or virtual currency. 1838 3. Digital units used as part of prepaid cards. 1839 Section 39. Subsections (3) and (4) are added to section 1840 717.102, Florida Statutes, to read: 1841 717.102 Property presumed unclaimed; general rule.— 1842 (3) A presumption that property is unclaimed is rebutted by 1843 an apparent owner’s expression of interest in the property. An 1844 owner’s expression of interest in property includes: 1845 (a) A record communicated by the apparent owner to the 1846 holder or agent of the holder concerning the property or the 1847 account in which the property is held; 1848 (b) An oral communication by the apparent owner to the 1849 holder or agent of the holder concerning the property or the 1850 account in which the property is held, if the holder or its 1851 agent contemporaneously makes and preserves a record of the fact 1852 of the apparent owner’s communication; 1853 (c) Presentment of a check or other instrument of payment 1854 of a dividend, interest payment, or other distribution, with 1855 respect to an account, underlying security, or interest in a 1856 business association; 1857 (d) Activity directed by an apparent owner in the account 1858 in which the property is held, including accessing the account 1859 or information concerning the account, or a direction by the 1860 apparent owner to increase, decrease, or otherwise change the 1861 amount or type of property held in the account; 1862 (e) A deposit into or withdrawal from an account at a 1863 financial organization, excluding an automatic deposit or 1864 withdrawal previously authorized by the apparent owner or an 1865 automatic reinvestment of dividends or interest, which does not 1866 constitute an expression of interest; or 1867 (f) Any other action by the apparent owner which reasonably 1868 demonstrates to the holder that the apparent owner knows that 1869 the property exists. 1870 (4) A deceased owner is incapable of expressing an interest 1871 in property. 1872 Section 40. Subsection (5) of section 717.106, Florida 1873 Statutes, is amended to read: 1874 717.106 Bank deposits and funds in financial 1875 organizations.— 1876 (5) If the documents establishing a deposit described in 1877 subsection (1) state the address of a beneficiary of the 1878 deposit, and the account has a value of at least $50, notice 1879 shall be given to the beneficiary as provided for notice to the 1880 apparent owner under s. 717.117(6)s. 717.117(4). This 1881 subsection shall apply to accounts opened on or after October 1, 1882 1990. 1883 Section 41. Section 717.1065, Florida Statutes, is created 1884 to read: 1885 717.1065 Virtual currency.— 1886 (1) Any virtual currency held or owing by a banking 1887 organization, corporation, custodian, exchange, or other entity 1888 engaged in virtual currency business activity is presumed 1889 unclaimed unless the owner, within 5 years, has communicated in 1890 writing with the banking organization, corporation, custodian, 1891 exchange, or other entity engaged in virtual currency business 1892 activity concerning the virtual currency or otherwise indicated 1893 an interest as evidenced by a memorandum or other record on file 1894 with the banking organization, corporation, custodian, exchange, 1895 or other entity engaged in virtual currency business activity. 1896 (2) A holder may not deduct from the amount of any virtual 1897 currency subject to this section any charges imposed by reason 1898 of the virtual currency unless there is a valid and enforceable 1899 written contract between the holder and the owner of the virtual 1900 currency pursuant to which the holder may impose those charges 1901 and the holder does not regularly reverse or otherwise cancel 1902 those charges with respect to the virtual currency. 1903 Section 42. Paragraph (a) of subsection (1) of section 1904 717.1101, Florida Statutes, is amended to read: 1905 717.1101 Unclaimed equity and debt of business 1906 associations.— 1907 (1)(a) Stock or other equity interest in a business 1908 association is presumed unclaimed on the date of3 years after1909 the earliest of the following: 1910 1. Three years afterThe date ofthe most recent of any 1911 owner-generated activity or communication related to the 1912 account, as recorded and maintained in the holder’s database and 1913 records systems sufficient enough to demonstrate the owner’s 1914 continued awareness or interest in the propertydividend, stock1915split, or other distribution unclaimed by the apparent owner; 1916 2. Three years after the date of the death of the owner, as 1917 evidenced by:The date of a statement of account or other1918notification or communication that was returned as1919undeliverable; or1920 a. Notice to the holder of the owner’s death by an 1921 administrator, beneficiary, relative, or trustee, or by a 1922 personal representative or other legal representative of the 1923 owner’s estate; 1924 b. Receipt by the holder of a copy of the death certificate 1925 of the owner; 1926 c. Confirmation by the holder of the owner’s death through 1927 other means; or 1928 d. Other evidence from which the holder may reasonably 1929 conclude that the owner is deceased; or 1930 3. One year after the date on which the holder receives 1931 notice under subparagraph 2. if the notice is received 2 years 1932 or less after the owner’s death and the holder lacked knowledge 1933 of the owner’s death during that period of 2 years or lessThe1934date the holder discontinued mailings, notifications, or1935communications to the apparent owner. 1936 Section 43. Subsection (1) of section 717.112, Florida 1937 Statutes, is amended to read: 1938 717.112 Property held by agents and fiduciaries.— 1939 (1)Except as provided in ss. 717.1125 and 733.816,All 1940 intangible property and any income or increment thereon held in 1941 a fiduciary capacity for the benefit of another person, 1942 including property held by an attorney in fact or an agent, 1943 except as provided in ss. 717.1125 and 733.816, is presumed 1944 unclaimed unless the owner has within 5 years after it has 1945 become payable or distributable increased or decreased the 1946 principal, accepted payment of principal or income, communicated 1947 in writing concerning the property, or otherwise indicated an 1948 interest as evidenced by a memorandum or other record on file 1949 with the fiduciary. 1950 Section 44. Effective January 1, 2025, section 717.117, 1951 Florida Statutes, is amended to read: 1952 717.117 Report of unclaimed property.— 1953 (1) Every person holding funds or other property, tangible 1954 or intangible, presumed unclaimed and subject to custody as 1955 unclaimed property under this chapter shall report to the 1956 departmenton such forms as the department may prescribe by1957rule. In lieu of forms, a report identifying 25 or more1958different apparent owners must be submitted by the holdervia 1959 electronic medium as the department may prescribe by rule. The 1960 report must include: 1961 (a)Except for traveler’s checks and money orders,The 1962 name, social security number or taxpayer identification number, 1963anddate of birth,if known,and last known address, if any,of 1964 each person appearing from the records of the holder to be the 1965 owner of any property which is presumed unclaimed and which has 1966 a value of $10$50or more. 1967 (b) For unclaimed funds thatwhichhave a value of $10$501968 or more held or owing under any life or endowment insurance 1969 policy or annuity contract, the identifying information required 1970 to be provided under paragraph (a) for bothfull name, taxpayer1971identification number or social security number, date of birth,1972if known, and last known address ofthe insured or annuitant and 1973ofthe beneficiary according to records of the insurance company 1974 holding or owing the funds. 1975 (c) For all tangible property held in a safe-deposit box or 1976 other safekeeping repository, a description of the property and 1977 the place where the property is held and may be inspected by the 1978 department, and any amounts owing to the holder. Contents of a 1979 safe-deposit box or other safekeeping repository which consist 1980 of documents or writings of a private nature and which have 1981 little or no apparent value shall not be presumed unclaimed. 1982 (d) The nature or type of property, any accounting orand1983 identifying number associated with the property, aif any, or1984 description of the property, and the amount appearing from the 1985 records to be due. Items of value less than $10under$50each 1986 may be reported in the aggregate. 1987 (e) The date the property became payable, demandable, or 1988 returnable, and the date of the last transaction with the 1989 apparent owner with respect to the property. 1990 (f) Any other information the department may prescribe by 1991 rule as necessary for the administration of this chapter. 1992 (2) If the total value of all presumed unclaimed property, 1993 whether tangible or intangible, held by a person is less than 1994 $10, a zero balance report may be filed for that reporting 1995 period 1996(f)Any person or business association or public1997corporation holding funds presumed unclaimed and having a total1998value of $10 or less may file a zero balance report for that1999reporting period. The balance brought forward to the new2000reporting period is zero.2001(g)Such other information as the department may prescribe2002by rule as necessary for the administration of this chapter. 2003 (3)(h)Credit balances, customer overpayments, security 2004 deposits, and refunds having a value of less than $10 mayshall2005 not be presumed unclaimed. 2006 (4)(2)If the holder of property presumed unclaimed and 2007 subject to custody as unclaimed property is a successor holder 2008 or if the holder has changed the holder’s name while in 2009 possession of the property, the holder mustshallfile with the 2010 holder’s report all known names and addresses of each prior 2011 holder of the property. Compliance with this subsection means 2012 the holder exercises reasonable and prudent efforts to determine 2013 the names of all prior holders. 2014 (5)(3)The report must be filed before May 1 of each year. 2015 The report appliesshall applyto the preceding calendar year. 2016 Upon written request by any person required to file a report, 2017 and upon a showing of good cause, the department may extend the 2018 reporting date. The department may impose and collect a penalty 2019 of $10 per day up to a maximum of $500 for the failure to timely 2020 report, if an extension was not provided or if the holder of the 2021 property failedthe failureto include in a report information 2022 required by this chapter which was in the holder’s possession at 2023 the time of reporting. The penalty mustshallbe remitted to the 2024 department within 30 days after the date of the notification to 2025 the holder that the penalty is due and owing. As necessary for 2026 proper administration of this chapter, the department may waive 2027 any penalty due with appropriate justification.On written2028request by any person required to file a report and upon a2029showing of good cause, the department may postpone the reporting2030date.The department must provide information contained in a 2031 report filed with the department to any person requesting a copy 2032 of the report or information contained in a report, to the 2033 extent the information requested is not confidential, within 45 2034 days after the department determines that the reporthas been2035processed and added to the unclaimed property database2036subsequent to a determination that the reportis accurate and 2037 acceptable and that the reported property is the same as the 2038 remitted property. 2039 (6)(4)Holders of inactive accounts having a value of $50 2040 or more shall use due diligence to locate and notify apparent 2041 owners that the entity is holding unclaimed property available 2042 for them to recover. Not more than 120 days and not less than 60 2043 days prior to filing the report required by this section, the 2044 holder in possession of property presumed unclaimed and subject 2045 to custody as unclaimed property under this chapter shall send 2046 written notice by first-class United States mail to the apparent 2047 owner at the apparent owner’s last known address from the 2048 holder’s records or from other available sources, or via 2049 electronic mail if the apparent owner has elected this method of 2050 delivery, informing the apparent owner that the holder is in 2051 possession of property subject to this chapter, if the holder 2052 has in its records a mailing or electronicanaddress for the 2053 apparent owner which the holder’s records do not disclose to be 2054 inaccurate. These two means of contact are not mutually 2055 exclusive; if the mailing address is determined to be 2056 inaccurate, electronic mail may be used if so elected by the 2057 apparent owner. 2058 (7) The written notice to the apparent owner required under 2059 this section must: 2060 (a) Contain a heading that reads substantially as follows: 2061 “Notice. The State of Florida requires us to notify you that 2062 your property may be transferred to the custody of the Florida 2063 Department of Financial Services if you do not contact us before 2064 (insert date that is 30 days after the date of notice).” 2065 (b) Identify the type, nature, and, except for property 2066 that does not have a fixed value, value of the property that is 2067 the subject of the notice. 2068 (c) State that the property will be turned over to the 2069 custody of the department if no response is received within 30 2070 days after the date of the notice. 2071 (d) State that any property that is not legal tender of the 2072 United States may be sold or liquidated by the department. 2073 (e) State that after the property is turned over to the 2074 department, an apparent owner seeking return of the property may 2075 file a claim with the department. 2076 (f) State that the property is currently with a holder and 2077 provide instructions that the apparent owner must follow to 2078 prevent the holder from reporting and paying for the property or 2079 from delivering the property to the department. 2080 (8)(5)Any holder of intangible property may file with the 2081 department a petition for determination that the property is 2082 unclaimed requesting the department to accept custody of the 2083 property. The petition shall state any special circumstances 2084 that exist, contain the information required by subsection (4) 2085(2), and show that a diligent search has been made to locate the 2086 owner. If the department finds that the proof of diligent search 2087 is satisfactory, it shall give notice as provided in s. 717.118 2088 and accept custody of the property. 2089 (9)(6)Upon written request by any entity or person 2090 required to file a report, stating such entity’s or person’s 2091 justification for such action, the department may place that 2092 entity or person in an inactive status as an unclaimed property 2093 “holder.” 2094 (10)(7)(a) This section does not apply to the unclaimed 2095 patronage refunds as provided for by contract or through bylaw 2096 provisions of entities organized under chapter 425 or that are 2097 exempt from ad valorem taxation pursuant to s. 196.2002. 2098 (b) This section does not apply to intangible property 2099 held, issued, or owing by a business association subject to the 2100 jurisdiction of the United States Surface Transportation Board 2101 or its successor federal agency if the apparent owner of such 2102 intangible property is a business association. The holder of 2103 such property does not have any obligation to report, to pay, or 2104 to deliver such property to the department. 2105 (c) This section does not apply to credit balances, 2106 overpayments, refunds, or outstanding checks owed by a health 2107 care provider to a managed care payor with whom the health care 2108 provider has a managed care contract, provided that the credit 2109 balances, overpayments, refunds, or outstanding checks become 2110 due and owing pursuant to the managed care contract. 2111 (11)(8)(a) As used in this subsection, the term “property 2112 identifier” means the descriptor used by the holder to identify 2113 the unclaimed property. 2114 (b) Social security numbers and property identifiers 2115 contained in reports required under this section, held by the 2116 department, are confidential and exempt from s. 119.07(1) and s. 2117 24(a), Art. I of the State Constitution. 2118 (c) This exemption applies to social security numbers and 2119 property identifiers held by the department before, on, or after 2120 the effective date of this exemption. 2121 Section 45. Present subsections (4), (5), and (6) of 2122 section 717.119, Florida Statutes, are redesignated as 2123 subsections (5), (6), and (7), respectively, and a new 2124 subsection (4) and subsection (8) are added to that section, to 2125 read: 2126 717.119 Payment or delivery of unclaimed property.— 2127 (4) All virtual currency reported under this chapter on the 2128 annual report filing required in s. 717.117 shall be remitted to 2129 the department with the report. The holder shall liquidate the 2130 virtual currency and remit the proceeds to the department. The 2131 liquidation must occur within 30 days before the filing of the 2132 report. Upon delivery of the virtual currency proceeds to the 2133 department, the holder is relieved of all liability of every 2134 kind in accordance with the provisions of s. 717.1201 to every 2135 person for any losses or damages resulting to the person by the 2136 delivery to the department of the virtual currency proceeds. 2137 (8) A holder may not assign or otherwise transfer its 2138 obligation to report, pay, or deliver property or to comply with 2139 the provisions of this chapter, other than to a parent, 2140 subsidiary, or affiliate of the holder. 2141 (a) Unless otherwise agreed to by the parties to a 2142 transaction, the holder’s successor by merger or consolidation, 2143 or any person or entity that acquires all or substantially all 2144 of the holder’s capital stock or assets, is responsible for 2145 fulfilling the holder’s obligation to report, pay, or deliver 2146 property or to comply with the duties of this chapter regarding 2147 the transfer of property owed to the holder’s successor and 2148 being held for an owner resulting from the merger, 2149 consolidation, or acquisition. 2150 (b) This subsection does not prohibit a holder from 2151 contracting with a third party for the reporting of unclaimed 2152 property, but the holder remains responsible to the department 2153 for the complete, accurate, and timely reporting of the 2154 property. 2155 Section 46. Section 717.1201, Florida Statutes, is amended 2156 to read: 2157 717.1201 Custody by state; holderrelieved fromliability; 2158 reimbursement of holder paying claim; reclaiming for owner; 2159defense of holder;payment of safe-deposit box or repository 2160 charges.— 2161 (1) Upon the good faith payment or delivery of property to 2162 the department, the state assumes custody and responsibility for 2163 the safekeeping of property. Any person who pays or delivers 2164 property to the department in good faith is relieved of all 2165 liability to the extent of the value of the property paid or 2166 delivered for any claim then existing or which thereafter may 2167 arise or be made in respect to the property. 2168 (a) A holder’s substantial compliance with s. 717.117(4) 2169 and good faith payment or delivery of property to the department 2170 terminates any legal relationship between the holder and the 2171 owner with respect to the property reported and releases and 2172 discharges the holder from any and all liability to the owner, 2173 the owner’s heirs, personal representatives, successors, or 2174 assigns by reason of such payment or delivery, regardless of 2175 whether such property is in fact and in law unclaimed property, 2176 and such delivery and payment may be plead as a bar to recovery 2177 and are a conclusive defense in any suit or action brought by 2178 the owner, the owner’s heirs, personal representatives, 2179 successors, and assigns or any claimant against the holder by 2180 reason of such delivery or payment. 2181 (b) If the holder pays or delivers property to the 2182 department in good faith and thereafter any other person claims 2183 the property from the holder paying or delivering, or another 2184 state claims the money or property under that state’s laws 2185 relating to escheat or abandoned or unclaimed property, the 2186 department, upon written notice of the claim, shall defend the 2187 holder against the claim and indemnify the holder against any 2188 liability on the claim, except that a holder may not be 2189 indemnified against penalties imposed by another state. 2190 (2) For the purposes of this section, a payment or delivery 2191 of property is made in good faith if: 2192 (a) The payment or delivery was made in conjunction with an 2193 accurate and acceptable report. 2194 (b) The payment or delivery was made in a reasonable 2195 attempt to comply with this chapter. 2196 (c) The holder had a reasonable basis for believing, based 2197 on the facts then known, that the property was unclaimed and 2198 subject to this chapter. 2199 (d) There is no showing that the records pursuant to which 2200 the delivery was made did not meet reasonable commercial 2201 standards of practice in the industry. 2202 (3)(2)Any holder who has paid money to the department 2203 pursuant to this chapter may make payment to any person 2204 appearing to be entitled to payment and, upon filing proof that 2205 the payee is entitled thereto, the department shall forthwith 2206 repay the holder without deduction of any fee or other charges. 2207 If repayment is sought for a payment made on a negotiable 2208 instrument, including a traveler’s check or money order, the 2209 holder must be repaid under this subsection upon filing proof 2210 that the instrument was duly presented and that the payee is 2211 entitled to payment. The holder shall be repaid for payment made 2212 under this subsection even if the payment was made to a person 2213 whose claim was barred under s. 717.129(1). 2214 (4)(3)Any holder who has delivered property, including a 2215 certificate of any interest in a business association, other 2216 than money to the department pursuant to this chapter may 2217 reclaim the property if still in the possession of the 2218 department, without payment of any fee or other charges, upon 2219 filing proof that the owner has claimed the property from the 2220 holder. 2221 (5)(4)The department may accept an affidavit of the holder 2222 stating the facts that entitle the holder to recover money and 2223 property under this section as sufficient proof. 2224(5)If the holder pays or delivers property to the2225department in good faith and thereafter any other person claims2226the property from the holder paying or delivering, or another2227state claims the money or property under that state’s laws2228relating to escheat or abandoned or unclaimed property, the2229department, upon written notice of the claim, shall defend the2230holder against the claim and indemnify the holder against any2231liability on the claim.2232(6)For the purposes of this section, “good faith” means2233that:2234(a)Payment or delivery was made in a reasonable attempt to2235comply with this chapter.2236(b)The person delivering the property was not a fiduciary2237then in breach of trust in respect to the property and had a2238reasonable basis for believing, based on the facts then known to2239that person, that the property was unclaimed for the purposes of2240this chapter.2241(c)There is no showing that the records pursuant to which2242the delivery was made did not meet reasonable commercial2243standards of practice in the industry.2244 (6)(7)Property removed from a safe-deposit box or other 2245 safekeeping repository is received by the department subject to 2246 the holder’s right under this subsection to be reimbursed for 2247 the actual cost of the opening and to any valid lien or contract 2248 providing for the holder to be reimbursed for unpaid rent or 2249 storage charges. The department shall make the reimbursement to 2250 the holder out of the proceeds remaining after the deduction of 2251 the department’s selling cost. 2252 (7) If it appears to the satisfaction of the department 2253 that, because of some mistake of fact, error in calculation, or 2254 erroneous interpretation of a statute, a person has paid or 2255 delivered to the department pursuant to any provision of this 2256 chapter any money or other property not required by this chapter 2257 to be so paid or delivered, the department may, within 5 years 2258 after such erroneous payment or delivery, refund or redeliver 2259 such money or other property to the person, provided that such 2260 money or property has not been paid or delivered to a claimant 2261 or otherwise disposed of in accordance with this chapter. 2262 Section 47. Subsection (1) of section 717.123, Florida 2263 Statutes, is amended to read: 2264 717.123 Deposit of funds.— 2265 (1) All funds received under this chapter, including the 2266 proceeds from the sale of unclaimed property under s. 717.122, 2267 shall forthwith be deposited by the department in the Unclaimed 2268 Property Trust Fund. The department shall retain, from funds 2269 received under this chapter, an amount not exceeding $65$152270 million from which the department shall make prompt payment of 2271 claims allowed by the department and shall pay the costs 2272 incurred by the department in administering and enforcing this 2273 chapter. All remaining funds received by the department under 2274 this chapter shall be deposited by the department into the State 2275 School Fund. 2276 Section 48. Present subsection (2) of section 717.1242, 2277 Florida Statutes, is redesignated as subsection (3), a new 2278 subsection (2) is added to that section, and subsection (1) of 2279 that section is amended, to read: 2280 717.1242 Restatement of jurisdiction of the circuit court 2281 sitting in probate and the department.— 2282 (1) It is and has been the intent of the Legislature that, 2283 pursuant to s. 26.012(2)(b), circuit courts have jurisdiction of 2284 proceedings relating to the settlement of the estates of 2285 decedents and other jurisdiction usually pertaining to courts of 2286 probate. It is and has been the intent of the Legislature that, 2287 pursuant to this chapters. 717.124, the department determines 2288 the merits of claims and entitlements toforproperty paid or 2289 delivered to the department under this chapter. Consistent with 2290 this legislative intent, anyestate orbeneficiary, devisee, 2291 heir, personal representative, or other interested person, as 2292 those terms are defined in s. 731.201, of an estate seeking to 2293 obtain property paid or delivered to the department under this 2294 chapter must file a claim with the department as provided in s. 2295 717.124. 2296 (2) If a beneficiary, devisee, heir, personal 2297 representative, or other interested person, as those terms are 2298 defined in s. 731.201, of an estate seeks administration of the 2299 estate, of which unclaimed property makes up 50 percent or more 2300 of the assets, the department is considered an interested party 2301 and must be provided with notice of any such proceeding as 2302 provided in the Florida Probate Code and the Florida Probate 2303 Rules. 2304 Section 49. Subsection (4) of section 717.1243, Florida 2305 Statutes, is amended to read: 2306 717.1243 Small estate accounts.— 2307 (4) This sectiononlyapplies only if all of the unclaimed 2308 property held by the department on behalf of the owner has an 2309 aggregate value of $20,000$10,000or less and no probate 2310 proceeding is pending. 2311 Section 50. Section 717.1245, Florida Statutes, is amended 2312 to read: 2313 717.1245 Garnishment of unclaimed property.— 2314 (1) In addition to the fees, costs, and compensation 2315 specified in ss. 77.17 and 77.28, if any person files a petition 2316 for writ of garnishment seeking to obtain property paid or 2317 delivered to the department under this chapter, the plaintiff 2318 mustpetitioner shallbe ordered to pay the department 2319 reasonable costs and attorneyattorney’sfees ifinany 2320 proceeding brought by the department opposesto oppose, appeals 2321appeal, or collaterally attacksattackthe petition or writ and 2322 if the department is the prevailing party in any such 2323 proceeding. 2324 (2) If a final judgment on the writ is issued in the 2325 plaintiff’s favor, the plaintiff must still file a claim with 2326 the department as provided in s. 717.124. 2327 Section 51. Subsection (2) of section 717.129, Florida 2328 Statutes, is amended to read: 2329 717.129 Periods of limitation.— 2330 (2) The department may not commence anNoaction or 2331 proceeding to enforce this chapter with respect to the 2332 reporting, payment, or delivery of property or any other duty of 2333 a holder under this chaptermay be commenced by the department2334with respect to any duty of a holder under this chaptermore 2335 than 10 years after the duty arose. The period of limitation 2336 established under this subsection is tolled by the earlier of 2337 the department’s or audit agent’s delivery of a notice that a 2338 holder is subject to an audit or examination under s. 717.1301 2339 or the holder’s written election to enter into an unclaimed 2340 property voluntary disclosure agreement. 2341 Section 52. Section 717.1301, Florida Statutes, is amended 2342 to read: 2343 717.1301 Investigations; examinations; subpoenas.— 2344 (1) To carry out the chapter’s purpose of protecting the 2345 interest of missing owners through the safeguarding of their 2346 property and to administer and enforce this chapter, the 2347 department may: 2348 (a) Investigate, examine, inspect, request, or otherwise 2349 gather information or evidence on claim documents from a 2350 claimant or a claimant’s representative during its review of a 2351 claim. 2352 (b) Audit the records of a person or the records in the 2353 possession of an agent, representative, subsidiary, or affiliate 2354 of the person subject to this chapter to determine whether the 2355 person complied with this chapter. Such records may include 2356 information to verify the completeness or accuracy of the 2357 records provided, even if such records may not identify property 2358 reportable to the department. 2359 (c) Take testimony of a person, including the person’s 2360 employee, agent, representative, subsidiary, or affiliate, to 2361 determine whether the person complied with this chapter. 2362 (d) Issue an administrative subpoena to require that the 2363 records specified in paragraph (b) be made available for 2364 examination or audit and that the testimony specified in 2365 paragraph (c) be provided. 2366 (e) Bring an action in a court of competent jurisdiction 2367 seeking enforcement of an administrative subpoena issued under 2368 this section, which the court shall consider under procedures 2369 that will lead to an expeditious resolution of the action. 2370 (f) Bring an administrative action or an action in a court 2371 of competent jurisdiction to enforce this chapter. 2372 (2) If a person is subject to reporting property under this 2373 chapter, the department may require the person to file a 2374 verified report in a form prescribed by the department. The 2375 verified report must: 2376 (a) State whether the person is holding property reportable 2377 under this chapter; 2378 (b) Describe the property not previously reported, the 2379 property about which the department has inquired, or the 2380 property that is in dispute as to whether it is reportable under 2381 this chapter; and 2382 (c) State the amount or value of the property. 2383 (3) The department may authorize a compliance review of a 2384 report for a specified reporting year. The review must be 2385 limited to the contents of the report filed, as required by s. 2386 717.117 and subsection (2), and all supporting documents related 2387 to the reports. If the review results in a finding of a 2388 deficiency in unclaimed property due and payable to the 2389 department, the department shall notify the holder in writing of 2390 the amount of deficiency within 1 year after the authorization 2391 of the compliance review. If the holder fails to pay the 2392 deficiency within 90 days, the department may seek to enforce 2393 the assessment under subsection (1). The department is not 2394 required to conduct a review under this section before 2395 initiating an audit. 2396 (4) Notwithstanding any other provision of law, in a 2397 contract providing for the location or collection of unclaimed 2398 property, the department may authorize the contractor to deduct 2399 its fees and expenses for services provided under the contract 2400 from the unclaimed property that the contractor has recovered or 2401 collected under the contract. The department shall annually 2402 report to the Chief Financial Officer the total amount collected 2403 or recovered by each contractor during the previous fiscal year 2404 and the total fees and expenses deducted by each contractor. 2405(1) The department may make investigations and examinations2406within or outside this state of claims, reports, and other2407records as it deems necessary to administer and enforce the2408provisions of this chapter. In such investigations and2409examinations the department may administer oaths, examine2410witnesses, issue subpoenas, and otherwise gather evidence. The2411department may request any person who has not filed a report2412under s. 717.117 to file a verified report stating whether or2413not the person is holding any unclaimed property reportable or2414deliverable under this chapter.2415(2) Subpoenas for witnesses whose evidence is deemed2416material to any investigation or examination under this section2417may be issued by the department under seal of the department, or2418by any court of competent jurisdiction, commanding such2419witnesses to appear before the department at a time and place2420named and to bring such books, records, and documents as may be2421specified or to submit such books, records, and documents to2422inspection. Such subpoenas may be served by an authorized2423representative of the department.2424(3) If any person shall refuse to testify, produce books,2425records, and documents, or otherwise refuse to obey a subpoena2426issued under this section, the department may present its2427petition to a court of competent jurisdiction in or for the2428county in which such person resides or has its principal place2429of business, whereupon the court shall issue its rule nisi2430requiring such person to obey forthwith the subpoena issued by2431the department or show cause for failing to obey said subpoena.2432Unless said person shows sufficient cause for failing to obey2433the subpoena, the court shall forthwith direct such person to2434obey the same subject to such punishment as the court may direct2435including, but not limited to, the restraint, by injunction or2436by appointment of a receiver, of any transfer, pledge,2437assignment, or other disposition of such person’s assets or any2438concealment, alteration, destruction, or other disposition of2439subpoenaed books, records, or documents as the court deems2440appropriate, until such person has fully complied with such2441subpoena and the department has completed its investigation or2442examination. The department is entitled to the summary procedure2443provided in s. 51.011, and the court shall advance the cause on2444its calendar. Costs incurred by the department to obtain an2445order granting, in whole or in part, its petition shall be taxed2446against the subpoenaed person, and failure to comply with such2447order shall be a contempt of court.2448(4) Witnesses shall be entitled to the same fees and2449mileage as they may be entitled by law for attending as2450witnesses in the circuit court, except where such examination or2451investigation is held at the place of business or residence of2452the witness.2453 (5) The material compiled by the department in an 2454 investigation or examination under this chapter is confidential 2455 until the investigation or examination is complete. If any such 2456 material contains a holder’s financial or proprietary 2457 information, it may not be disclosed or made public by the 2458 department after the investigation or audit is completed, except 2459 as required by a court of competent jurisdiction in the course 2460 of a judicial proceeding in which the state is a party, or 2461 pursuant to an agreement with another state allowing joint 2462 audits. Such material may be considered a trade secret and 2463 exempt from s. 119.07(1) as provided for in s. 119.0715. The 2464 records, data, and information gatheredmaterial compiledby the 2465 department in an investigation or auditexaminationunder this 2466 chapter remainremainsconfidentialafter the department’s2467investigation or examination is completeif the department has 2468 submitted the material or any part of it to any law enforcement 2469 agency or other administrative agency for further investigation 2470 or for the filing of a criminal or civil prosecution and such 2471 investigation has not been completed or become inactive. 2472 (6) If an investigation or an auditexaminationof the 2473 records of any person results in the disclosure of property 2474 reportable and deliverable under this chapter, the department 2475 may assess the cost of the investigation or auditthe2476examinationagainst the holderat the rate of $100 per 8-hour2477day for each investigator or examiner.Such fee shall be2478calculated on an hourly basis and shall be rounded to the2479nearest hour. The person shall also pay the travel expense and2480per diem subsistence allowance provided for state employees in2481s. 112.061. The person shall not be required to pay a per diem2482fee and expenses of an examination or investigation which shall2483consume more than 30 worker-days in any one year unless such2484examination or investigation is due to fraudulent practices of2485the person, in which case such person shall be required to pay2486the entire cost regardless of time consumed.The fee for the 2487 costs of the investigation or audit shall be remitted to the 2488 department within 30 days after the date of the notification 2489 that the fee is due and owing. Any person who fails to pay the 2490 fee within 30 days after the date of the notification that the 2491 fee is due and owing shall pay to the department interest at the 2492 rate of 12 percent per annum on such fee from the date of the 2493 notification. 2494 Section 53. Subsection (1) of section 717.1311, Florida 2495 Statutes, is amended to read: 2496 717.1311 Retention of records.— 2497 (1) Every holder required to file a report under s. 717.117 2498 shall maintain a record of the specific type of property, 2499 amount, name, and last known address of the owner for 105years 2500 after the property becomes reportable, except to the extent that 2501 a shorter time is provided in subsection (2) or by rule of the 2502 department. 2503 Section 54. Paragraph (j) of subsection (1) and subsection 2504 (3) of section 717.1322, Florida Statutes, are amended to read: 2505 717.1322 Administrative and civil enforcement.— 2506 (1) The following acts are violations of this chapter and 2507 constitute grounds for an administrative enforcement action by 2508 the department in accordance with the requirements of chapter 2509 120 and for civil enforcement by the department in a court of 2510 competent jurisdiction: 2511 (j) Requesting or receiving compensation for notifying a 2512 person of his or her unclaimed property or assisting another 2513 person in filing a claim for unclaimed property, unless the 2514 person is an attorney licensed to practice law in this state, a 2515 Florida-certified public accountant, or a private investigator 2516 licensed under chapter 493, or entering into, or making a 2517 solicitation to enter into, an agreement to file a claim for 2518 unclaimed property owned by another,or a contract or agreement2519to purchase unclaimed property,unless such person is registered 2520 with the department under this chapter and an attorney licensed 2521 to practice law in this state in the regular practice of her or 2522 his profession, a Florida-certified public accountant who is 2523 acting within the scope of the practice of public accounting as 2524 defined in chapter 473, or a private investigator licensed under 2525 chapter 493. This paragraph does not apply to a person who has 2526 been granted a durable power of attorney to convey and receive 2527 all of the real and personal property of the owner, is the 2528 court-appointed guardian of the owner, has been employed as an 2529 attorney or qualified representative to contest the department’s 2530 denial of a claim, or has been employed as an attorney to 2531 probate the estate of the owner or an heir or legatee of the 2532 owner. 2533 (3) A claimant’s representativeregistrantis subject to 2534 civil enforcement and the disciplinary actions specified in 2535 subsection (2) for violations of subsection (1) by an agent or 2536 employee of the registrant’s employer if the claimant’s 2537 representativeregistrantknew or should have known that such 2538 agent or employee was violating any provision of this chapter. 2539 Section 55. Subsection (1) of section 717.1333, Florida 2540 Statutes, is amended to read: 2541 717.1333 Evidence; estimations; audit reports and 2542 worksheets, investigatorexaminer’s worksheets, investigative2543 reports and worksheets, other related documents.— 2544 (1) In any proceeding involving a holder under ss. 120.569 2545 and 120.57 in which an audit agentauditor, examiner,or 2546 investigator acting under authority of this chapter is available 2547 for cross-examination, any official written report, worksheet, 2548 or other related paper, or copy thereof, compiled, prepared, 2549 drafted, or otherwise made or received by the audit agent 2550auditor, examiner,or investigator, after being duly 2551 authenticated by the audit agentauditor, examiner,or 2552 investigator, may be admitted as competent evidence upon the 2553 oath of the audit agentauditor, examiner,or investigator that 2554 the report, worksheet, or related paper was prepared or received 2555 as a result of an audit, examination, or investigation of the 2556 books and records of the person audited, examined, or 2557 investigated, or the agent thereof. 2558 Section 56. Subsections (1) and (2) of section 717.134, 2559 Florida Statutes, are amended to read: 2560 717.134 Penalties and interest.— 2561 (1) For any person who willfully fails to render any report 2562 required under this chapter, the department may impose and 2563 collect a penalty of $500 per day up to a maximum of $5,000 and 2564 25 percent of the value of property not reported until an 2565 appropriateareport is providedrendered for any person who2566willfully fails to render any report required under this2567chapter. Upon a holder’s showing of good cause, the department 2568 may waive said penalty or any portion thereof. If the holder 2569 acted in good faith and without negligence, the department shall 2570 waive the penalty provided herein. 2571 (2) For any person who willfully refuses to pay or deliver 2572 unclaimed property to the department as required under this 2573 chapter, the department may impose and collect a penalty of $500 2574 per day up to a maximum of $5,000 and 25 percent of the value of 2575 property not paid or delivered until the property is paid or 2576 deliveredfor any person who willfully refuses to pay or deliver2577abandoned property to the department as required under this2578chapter. 2579 Section 57. Section 717.135, Florida Statutes, is amended 2580 to read: 2581 717.135 Recovery agreements and purchase agreements for 2582 claims filed by a claimant’s representative or a purchaser; fees 2583 and costs, or total net gain.— 2584 (1) In order to protect the interests of owners of 2585 unclaimed property, the department shall adopt by rule a form 2586 entitled “Unclaimed Property Recovery Agreement” and a form 2587 entitled “Unclaimed Property Purchase Agreement.” 2588 (2) The Unclaimed Property Recovery Agreement and the 2589 Unclaimed Property Purchase Agreement must include and disclose 2590 all of the following: 2591 (a) The total dollar amount of unclaimed property accounts 2592 claimed or sold. 2593 (b) The total percentage of all authorized fees and costs 2594 to be paid to the claimant’s representative or the percentage of 2595 the value of the property to be paid as net gain to the 2596 purchaserpurchasing claimant’s representative. 2597 (c) The total dollar amount to be deducted and received 2598 from the claimant as fees and costs by the claimant’s 2599 representative or the total net dollar amount to be received by 2600 the purchaserpurchasing claimant’s representative. 2601 (d) The net dollar amount to be received by the claimant or 2602 the seller. 2603 (e) For each account claimed, the unclaimed property 2604 account number. 2605 (f) For the Unclaimed Property Purchase Agreement, a 2606 statement that the amount of the purchase price will be remitted 2607 to the seller by the purchaser within 30 days after the 2608 execution of the agreement by the seller. 2609 (g) The name, address, e-mail address, phone number, and 2610 license number of the claimant’s representative, or the name, 2611 address, e-mail address, and phone number of the purchaser. 2612 (h)1. The manual signature of the claimant or seller and 2613 the date signed, affixed on the agreement by the claimant or 2614 seller. 2615 2. Notwithstanding any other provision of this chapter to 2616 the contrary, the department may allow an apparent owner, who is 2617 also the claimant or seller, to sign the agreement 2618 electronicallyfor claims of $2,000 or less. All electronic 2619 signatures on the Unclaimed Property Recovery Agreement and the 2620 Unclaimed Property Purchase Agreement must be affixed on the 2621 agreement by the claimant or seller using the specific, 2622 exclusive eSignature product and protocol authorized by the 2623 department. 2624 (i) The social security number or taxpayer identification 2625 number of the claimant or seller, if a number has been issued to 2626 the claimant or seller. 2627 (j) The total fees and costs, or the total discount in the 2628 case of a purchase agreement, which may not exceed 30 percent of 2629 the claimed amount. In the case of a recovery agreement, if the 2630 total fees and costs exceed 30 percent, the fees and costs shall 2631 be reduced to 30 percent and the net balance shall be remitted 2632 directly by the department to the claimant. In the case of a 2633 purchase agreement, if the total net gain of the purchaser 2634 exceeds 30 percent, the claim will be denied. 2635 (3) For an Unclaimed Property Purchase Agreement form, 2636 proof that the purchaser has made payment must be filed with the 2637 department along with the claim. If proof of payment is not 2638 provided, the claim is void. 2639 (4) A claimant’s representative or a purchaser must use the 2640 Unclaimed Property Recovery Agreement or the Unclaimed Property 2641 Purchase Agreement as the exclusive means of entering into an 2642 agreement or a contract with a claimant or seller to file a 2643 claim with the department. 2644 (5) Fees and costs may be owed or paid to, or received by, 2645 a claimant’s representative or a purchaser only after a filed 2646 claim has been approved and if the claimant’s representative 2647 used an agreement authorized by this section. 2648 (6) A claimant’s representative or a purchaser may not use 2649 or distribute any other agreement of any type, conveyed by any 2650 method, with respect to the claimant or seller which relates, 2651 directly or indirectly, to unclaimed property accounts held by 2652 the department or the Chief Financial Officer other than the 2653 agreements authorized by this section. Any engagement, 2654 authorization, recovery, or fee agreement that is not authorized 2655 by this section is void. A claimant’s representative or a 2656 purchaser is subject to administrative and civil enforcement 2657 under s. 717.1322 if he or she uses an agreement that is not 2658 authorized by this section and if the agreement is used to 2659 apply, directly or indirectly, to unclaimed property held by 2660 this state. This subsection does not prohibit lawful 2661 nonagreement, noncontractual, or advertising communications 2662 between or among the parties. 2663 (7) The Unclaimed Property Recovery Agreementand the2664Unclaimed Property Purchase Agreementmay not contain language 2665 that makes the agreement irrevocable or that creates an 2666 assignment of any portion of unclaimed property held by the 2667 department. 2668 (8) When a claim is approved, the department may pay any 2669 additional account that is owned by the claimant but has not 2670 been claimed at the time of approval, provided that a subsequent 2671 claim has not been filed or is not pending for the claimant at 2672 the time of approval. 2673 (9) This section does not supersede s. 717.1241. 2674 (10) This section does not apply to the sale and purchase 2675 of Florida-held unclaimed property accounts through a bankruptcy 2676 trustee appointed to represent a debtor’s estate in a bankruptcy 2677 proceeding in accordance with the United States Bankruptcy Code. 2678 Section 58. Subsections (1), (2), and (3) of section 2679 717.1400, Florida Statutes, are amended to read: 2680 717.1400 Registration.— 2681 (1) In order to file claims as a claimant’s representative, 2682acquire ownership of or entitlement to unclaimed property,2683 receive a distribution of fees and costs from the department, 2684 and obtain unclaimed property dollar amounts and numbers of 2685 reported shares of stock held by the department, a private 2686 investigator holding a Class “C” individual license under 2687 chapter 493 must register with the department on such form as 2688 the department prescribes by rule and must be verified by the 2689 applicant. To register with the department, a private 2690 investigator must provide: 2691 (a) A legible copy of the applicant’s Class “A” business 2692 license under chapter 493 or that of the applicant’s firm or 2693 employer which holds a Class “A” business license under chapter 2694 493. 2695 (b) A legible copy of the applicant’s Class “C” individual 2696 license issued under chapter 493. 2697 (c) The business address and telephone number of the 2698 applicant’s private investigative firm or employer. 2699 (d) The names of agents or employees, if any, who are 2700 designated to act on behalf of the private investigator, 2701 together with a legible copy of their photo identification 2702 issued by an agency of the United States, or a state, or a 2703 political subdivision thereof. 2704 (e) Sufficient information to enable the department to 2705 disburse funds by electronic funds transfer. 2706 (f) The tax identification number of the private 2707 investigator’s firm or employer which holds a Class “A” business 2708 license under chapter 493. 2709 (2) In order to file claims as a claimant’s representative, 2710acquire ownership of or entitlement to unclaimed property,2711 receive a distribution of fees and costs from the department, 2712 and obtain unclaimed property dollar amounts and numbers of 2713 reported shares of stock held by the department, a Florida 2714 certified public accountant must register with the department on 2715 such form as the department prescribes by rule and must be 2716 verified by the applicant. To register with the department, a 2717 Florida-certified public accountant must provide: 2718 (a) The applicant’s Florida Board of Accountancy number. 2719 (b) A legible copy of the applicant’s current driver 2720 license showing the full name and current address of such 2721 person. If a current driver license is not available, another 2722 form of identification showing the full name and current address 2723 of such person or persons shall be filed with the department. 2724 (c) The business address and telephone number of the 2725 applicant’s public accounting firm or employer. 2726 (d) The names of agents or employees, if any, who are 2727 designated to act on behalf of the Florida-certified public 2728 accountant, together with a legible copy of their photo 2729 identification issued by an agency of the United States, or a 2730 state, or a political subdivision thereof. 2731 (e) Sufficient information to enable the department to 2732 disburse funds by electronic funds transfer. 2733 (f) The tax identification number of the accountant’s 2734 public accounting firm employer. 2735 (3) In order to file claims as a claimant’s representative, 2736acquire ownership of or entitlement to unclaimed property,2737 receive a distribution of fees and costs from the department, 2738 and obtain unclaimed property dollar amounts and numbers of 2739 reported shares of stock held by the department, an attorney 2740 licensed to practice in this state must register with the 2741 department on such form as the department prescribes by rule and 2742 must be verified by the applicant. To register with the 2743 department, such attorney must provide: 2744 (a) The applicant’s Florida Bar number. 2745 (b) A legible copy of the applicant’s current driver 2746 license showing the full name and current address of such 2747 person. If a current driver license is not available, another 2748 form of identification showing the full name and current address 2749 of such person or persons shall be filed with the department. 2750 (c) The business address and telephone number of the 2751 applicant’s firm or employer. 2752 (d) The names of agents or employees, if any, who are 2753 designated to act on behalf of the attorney, together with a 2754 legible copy of their photo identification issued by an agency 2755 of the United States, or a state, or a political subdivision 2756 thereof. 2757 (e) Sufficient information to enable the department to 2758 disburse funds by electronic funds transfer. 2759 (f) The tax identification number of the attorney’s firm or 2760 employer. 2761 Section 59. Paragraph (a) of subsection (2) of section 2762 197.582, Florida Statutes, is amended to read: 2763 197.582 Disbursement of proceeds of sale.— 2764 (2)(a) If the property is purchased for an amount in excess 2765 of the statutory bid of the certificateholder, the surplus must 2766 be paid over and disbursed by the clerk as set forth in 2767 subsections (3), (5), and (6). If the opening bid included the 2768 homestead assessment pursuant to s. 197.502(6)(c), that amount 2769 must be treated as surplus and distributed in the same manner. 2770 The clerk shall distribute the surplus to the governmental units 2771 for the payment of any lien of record held by a governmental 2772 unit against the property, including any tax certificates not 2773 incorporated in the tax deed application and omitted taxes, if 2774 any. If there remains a balance of undistributed funds, the 2775 balance must be retained by the clerk for the benefit of persons 2776 described in s. 197.522(1)(a), except those persons described in 2777 s. 197.502(4)(h), as their interests may appear. The clerk shall 2778 mail notices to such persons notifying them of the funds held 2779 for their benefit at the addresses provided in s. 197.502(4). 2780 Such notice constitutes compliance with the requirements of s. 2781 717.117(6)s. 717.117(4). Any service charges and costs of 2782 mailing notices shall be paid out of the excess balance held by 2783 the clerk. Notice must be provided in substantially the 2784 following form: 2785 NOTICE OF SURPLUS FUNDS FROM TAX DEED SALE 2786 CLERK OF COURT 2787 .... COUNTY, FLORIDA 2788 Tax Deed #........ 2789 Certificate #........ 2790 Property Description: ........ 2791 Pursuant to chapter 197, Florida Statutes, the above 2792 property was sold at public sale on ...(date of sale)..., and a 2793 surplus of $...(amount)... (subject to change) will be held by 2794 this office for 120 days beginning on the date of this notice to 2795 benefit the persons having an interest in this property as 2796 described in section 197.502(4), Florida Statutes, as their 2797 interests may appear (except for those persons described in 2798 section 197.502(4)(h), Florida Statutes). 2799 To the extent possible, these funds will be used to satisfy 2800 in full each claimant with a senior mortgage or lien in the 2801 property before distribution of any funds to any junior mortgage 2802 or lien claimant or to the former property owner. To be 2803 considered for funds when they are distributed, you must file a 2804 notarized statement of claim with this office within 120 days of 2805 this notice. If you are a lienholder, your claim must include 2806 the particulars of your lien and the amounts currently due. Any 2807 lienholder claim that is not filed within the 120-day deadline 2808 is barred. 2809 A copy of this notice must be attached to your statement of 2810 claim. After the office examines the filed claim statements, it 2811 will notify you if you are entitled to any payment. 2812 Dated: ........ 2813 Clerk of Court 2814 Section 60. Subsection (1) of section 717.1382, Florida 2815 Statutes, is amended to read: 2816 717.1382 United States savings bond; unclaimed property; 2817 escheatment; procedure.— 2818 (1) Notwithstanding any other provision of law, a United 2819 States savings bond in possession of the department or 2820 registered to a person with a last known address in the state, 2821 including a bond that is lost, stolen, or destroyed, is presumed 2822 abandoned and unclaimed 5 years after the bond reaches maturity 2823 and no longer earns interest and shall be reported and remitted 2824 to the department by the financial institution or other holder 2825 in accordance with ss. 717.117(1) and (5)(3)and 717.119, if 2826 the department is not in possession of the bond. 2827 Section 61. The Division of Law Revision is directed to 2828 prepare a reviser’s bill for the 2025 Regular Session of the 2829 Legislature to change the term “Division of Investigative and 2830 Forensic Services” wherever the term appears in the Florida 2831 Statutes to “Division of Criminal Investigations.” 2832 Section 62. For the 2024-2025 fiscal year, one full-time 2833 equivalent position with associated salary rate of 110,000 is 2834 authorized and the sums of $183,863 in recurring funds and 2835 $5,067 in nonrecurring funds are appropriated from the Insurance 2836 Regulatory Trust Fund to the Department of Financial Services to 2837 support the full-time equivalent position. 2838 Section 63. Except as otherwise expressly provided in this 2839 act, this act shall take effect upon becoming a law.