Bill Text: FL S1492 | 2020 | Regular Session | Comm Sub
Bill Title: Consumer Protection
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2020-03-14 - Died on Calendar [S1492 Detail]
Download: Florida-2020-S1492-Comm_Sub.html
Florida Senate - 2020 CS for SB 1492
By the Committee on Rules; and Senator Wright
595-04234-20 20201492c1
1 A bill to be entitled
2 An act relating to consumer protection; amending s.
3 501.0051, F.S.; prohibiting consumer reporting
4 agencies from charging to reissue or provide a new
5 unique personal identifier to a consumer for the
6 removal of a security freeze; amending s. 624.307,
7 F.S.; revising a requirement for entities licensed or
8 authorized by the Department of Financial Services or
9 the Office of Insurance Regulation to respond to the
10 department’s Division of Consumer Services regarding
11 consumer complaints; revising administrative penalties
12 the division may impose for failure to comply;
13 amending s. 626.112, F.S.; prohibiting unlicensed
14 activity by an adjusting firm; providing an exemption;
15 providing an exemption from licensure for branch firms
16 that meet certain criteria; providing an
17 administrative penalty for failing to apply for
18 certain licensure; providing a criminal penalty for
19 aiding or abetting unlicensed activity; deleting an
20 obsolete provision; amending s. 626.602, F.S.;
21 authorizing the department to disapprove the use of
22 insurance agency names containing the words “Medicare”
23 or “Medicaid”; providing an exception for certain
24 insurance agencies; amending s. 626.621, F.S.; adding
25 grounds on which the department may take certain
26 actions against a license, appointment, or application
27 of certain insurance representatives; amending ss.
28 626.782 and 626.783, F.S.; revising the definitions of
29 the terms “industrial class insurer” and “ordinary
30 combination class insurer,” respectively, to conform
31 to changes made by the act; repealing s. 626.796,
32 F.S., relating to the representation of multiple
33 insurers in the same industrial debit territory;
34 amending s. 626.8443, F.S.; increasing the maximum
35 period of suspension of a title insurance agent’s or
36 agency’s license; amending s. 626.854, F.S.; revising
37 the timeframes in which an insured or claimant may
38 cancel a public adjuster’s contract to adjust a claim
39 without penalty or obligation; requiring that certain
40 public adjuster’s contracts include a specified
41 disclosure; specifying requirements for written
42 estimates of loss provided by public adjusters to
43 claimants or insureds; providing construction relating
44 to the failure to provide the required estimate;
45 amending s. 626.916, F.S.; revising the classes of
46 insurance subject to a disclosure requirement before
47 being eligible for export under the Surplus Lines Law;
48 amending s. 626.9541, F.S.; adding certain acts or
49 practices to the definition of sliding; amending s.
50 626.9741, F.S.; requiring an insurer to include
51 certain additional information when providing an
52 applicant or insured with certain credit report or
53 score information; amending ss. 626.9957 and 627.062,
54 F.S.; conforming cross-references; amending s.
55 627.421, F.S.; requiring personal lines residential
56 property insurers to annually deliver a certain
57 notification to certain policyholders within a
58 specified timeframe; amending s. 627.502, F.S.;
59 prohibiting life insurers from writing new policies of
60 industrial life insurance beginning on a certain date;
61 amending s. 627.7011, F.S.; providing that an insurer
62 issuing a homeowner’s policy with certain coverage may
63 provide the insured a list of recommended or preferred
64 vendors for repairs to the dwelling only if requested
65 by the insured; amending s. 627.70131, F.S.; providing
66 that communication made to or by an insurer’s
67 representative, rather than to or by an insurer’s
68 agent, constitutes communication to or by the insurer;
69 requiring an insurer-assigned licensed adjuster to
70 provide the policyholder with certain information in
71 certain investigations; specifying requirements for
72 insurers in notifying policyholders for certain
73 changes in assigned adjusters; requiring an insurer to
74 establish a process to provide the agent of record
75 access to claim status information for a certain
76 purpose; defining the term “agent of record”;
77 requiring insurers to include specified notices when
78 providing preliminary or partial damage estimates or
79 claim payments; specifying the timeframe in which an
80 insurer must pay or deny property insurance claims
81 under certain circumstances; providing applicability;
82 conforming provisions to changes made by the act;
83 creating s. 627.7031, F.S.; prohibiting foreign venue
84 clauses in property insurance policies; providing
85 applicability; amending s. 627.7142, F.S.; revising
86 information contained in the Homeowner Claims Bill of
87 Rights; conforming provisions to changes made by the
88 act; amending s. 631.57, F.S.; deleting a deductible
89 on the Florida Insurance Guaranty Association,
90 Incorporated’s obligation as to certain covered
91 claims; amending s. 648.30, F.S.; prohibiting the
92 aiding or abetting of unlicensed activity of a bail
93 bond agent or temporary bail bond agent; amending ss.
94 717.124, 717.12404, 717.1315, and 717.1322, F.S.;
95 conforming provisions to changes made by the act;
96 amending s. 717.135, F.S.; replacing provisions
97 relating to powers of attorney to recover unclaimed
98 property with provisions relating to uniform forms for
99 unclaimed property recovery agreements and purchase
100 agreements; requiring the department to adopt the
101 uniform forms by rule; specifying required information
102 and disclosures in the forms; requiring that, for the
103 purchase agreement form, proof the seller received
104 payment be filed with the department along with the
105 claim; requiring registered claimant’s representatives
106 to use the forms as the exclusive means of engaging
107 with a claimant or seller to file claims and
108 prohibiting them from using or distributing other
109 agreements; specifying a limitation on fees and costs
110 owed or paid; prohibiting certain language in the
111 forms; authorizing the department to pay additional
112 accounts owned by the claimant under certain
113 circumstances; providing construction; repealing s.
114 717.1351, F.S., relating to the acquisition of
115 unclaimed property; providing effective dates.
116
117 Be It Enacted by the Legislature of the State of Florida:
118
119 Section 1. Paragraph (b) of subsection (9) of section
120 501.0051, Florida Statutes, is amended to read:
121 501.0051 Protected consumer report security freeze.—
122 (9)
123 (b) A consumer reporting agency may not charge to a
124 reasonable fee, not to exceed $10, if the representative fails
125 to retain the original unique personal identifier provided by
126 the consumer reporting agency and the agency must reissue the
127 unique personal identifier or provide a new unique personal
128 identifier to the consumer representative.
129 Section 2. Paragraph (b) of subsection (10) of section
130 624.307, Florida Statutes, is amended to read:
131 624.307 General powers; duties.—
132 (10)
133 (b) Any entity person licensed or issued a certificate of
134 authority by the department or the office shall respond, in
135 writing, to the division within 20 days after receipt of a
136 written request for documents and information from the division
137 concerning a consumer complaint. The response must address the
138 issues and allegations raised in the complaint and include any
139 requested documents concerning the consumer complaint not
140 subject to attorney-client or work-product privilege. The
141 division may impose an administrative penalty for failure to
142 comply with this paragraph of up to $2,500 per violation upon
143 any entity licensed by the department or the office and $250 for
144 the first violation, $500 for the second violation, and up to
145 $1,000 for the third or subsequent violation upon any individual
146 licensed by the department or the office.
147 Section 3. Present subsection (9) of section 626.112,
148 Florida Statutes, is redesignated as subsection (10), a new
149 subsection (9) is added to that section, and paragraph (d) of
150 subsection (7) and present subsection (9) of that section are
151 amended, to read:
152 626.112 License and appointment required; agents, customer
153 representatives, adjusters, insurance agencies, service
154 representatives, managing general agents, insurance adjusting
155 firms.—
156 (7)
157 (d) Effective October 1, 2015, the department must
158 automatically convert the registration of an approved registered
159 insurance agency to an insurance agency license.
160 (9)(a) An individual, firm, partnership, corporation,
161 association, or other entity may not act in its own name or
162 under a trade name, directly or indirectly, as an adjusting firm
163 unless it complies with s. 626.8696 with respect to possessing
164 an adjusting firm license for each place of business at which it
165 engages in an activity that may be performed only by a licensed
166 insurance adjuster. However, an adjusting firm that is owned and
167 operated by a single licensed adjuster conducting business in
168 his or her individual name and not employing or otherwise using
169 the services of or appointing other licensees is exempt from the
170 adjusting firm licensing requirements of this subsection.
171 (b) A branch place of business that is established by a
172 licensed adjusting firm is considered a branch firm and is not
173 required to be licensed if:
174 1. It transacts business under the same name and federal
175 tax identification number as the licensed adjusting firm;
176 2. It has designated with the department a primary adjuster
177 operating the location as required by s. 626.8695; and
178 3. The address and telephone number of the branch location
179 have been submitted to the department for inclusion in the
180 licensing record of the licensed adjusting firm within 30 days
181 after insurance transactions begin at the branch location.
182 (c) If an adjusting firm is required to be licensed but
183 fails to file an application for licensure in accordance with
184 this section, the department shall impose on the firm an
185 administrative penalty of up to $10,000.
186 (10)(9) Any person who knowingly transacts insurance or
187 otherwise engages in insurance activities in this state without
188 a license in violation of this section or who knowingly aids or
189 abets an unlicensed person in transacting insurance or otherwise
190 engaging in insurance activities in this state without a license
191 commits a felony of the third degree, punishable as provided in
192 s. 775.082, s. 775.083, or s. 775.084.
193 Section 4. Subsection (4) is added to section 626.602,
194 Florida Statutes, to read:
195 626.602 Insurance agency names; disapproval.—The department
196 may disapprove the use of any true or fictitious name, other
197 than the bona fide natural name of an individual, by any
198 insurance agency on any of the following grounds:
199 (4) The name contains the word “Medicare” or “Medicaid.” An
200 insurance agency whose name contains the word “Medicare” or
201 “Medicaid” but which is licensed as of July 1, 2020, may
202 continue to use that name as long as the agency’s license is
203 valid. If the agency’s license expires or is suspended or
204 revoked, the agency may not be relicensed using that name.
205 Section 5. Subsections (16) and (17) are added to section
206 626.621, Florida Statutes, to read:
207 626.621 Grounds for discretionary refusal, suspension, or
208 revocation of agent’s, adjuster’s, customer representative’s,
209 service representative’s, or managing general agent’s license or
210 appointment.—The department may, in its discretion, deny an
211 application for, suspend, revoke, or refuse to renew or continue
212 the license or appointment of any applicant, agent, adjuster,
213 customer representative, service representative, or managing
214 general agent, and it may suspend or revoke the eligibility to
215 hold a license or appointment of any such person, if it finds
216 that as to the applicant, licensee, or appointee any one or more
217 of the following applicable grounds exist under circumstances
218 for which such denial, suspension, revocation, or refusal is not
219 mandatory under s. 626.611:
220 (16) Taking an action that allows the personal financial or
221 medical information of a consumer or customer to be made
222 available or accessible to the general public, regardless of the
223 format in which the record is stored.
224 (17) Initiating in-person or telephone solicitation after 9
225 p.m. or before 8 a.m. local time of the prospective customer
226 unless requested by the prospective customer.
227 Section 6. Section 626.782, Florida Statutes, is amended to
228 read:
229 626.782 “Industrial class insurer” defined.—An “industrial
230 class insurer” is an insurer collecting premiums on policies of
231 writing industrial life insurance, as defined in s. 627.502,
232 written before July 1, 2020, and as to such insurance, operates
233 under a system of collecting a debit by its agent.
234 Section 7. Section 626.783, Florida Statutes, is amended to
235 read:
236 626.783 “Ordinary-combination class insurer” defined.—An
237 “ordinary-combination class insurer” is an insurer writing both
238 ordinary class insurance and collecting premiums on existing
239 industrial life class insurance under s. 626.782.
240 Section 8. Section 626.796, Florida Statutes, is repealed.
241 Section 9. Subsection (1) of section 626.8443, Florida
242 Statutes, is amended to read:
243 626.8443 Duration of suspension or revocation.—
244 (1) The department shall, in its order suspending a title
245 insurance agent’s or agency’s license or appointment or in its
246 order suspending the eligibility of a person to hold or apply
247 for such license or appointment, specify the period during which
248 the suspension is to be in effect, but such period shall not
249 exceed 2 years 1 year. The license, or appointment, or
250 eligibility shall remain suspended during the period so
251 specified, subject, however, to any rescission or modification
252 of the order by the department, or modification or reversal
253 thereof by the court, prior to expiration of the suspension
254 period. A license, appointment, or eligibility that which has
255 been suspended may not be reinstated except upon request for
256 such reinstatement, but the department shall not grant such
257 reinstatement if it finds that the circumstance or circumstances
258 for which the license, appointment, and eligibility was
259 suspended still exist or are likely to recur.
260 Section 10. Subsections (6) and (11) of section 626.854,
261 Florida Statutes, are amended to read:
262 626.854 “Public adjuster” defined; prohibitions.—The
263 Legislature finds that it is necessary for the protection of the
264 public to regulate public insurance adjusters and to prevent the
265 unauthorized practice of law.
266 (6) Except during a state of emergency declared by the
267 Governor and except during the 1-year period after the date of
268 loss, an insured or claimant may cancel a public adjuster’s
269 contract to adjust a claim without penalty or obligation within
270 7 calendar 3 business days after the date on which the contract
271 is executed or within 3 business days after the date on which
272 the insured or claimant has notified the insurer of the claim,
273 whichever is later. During a state of emergency declared by the
274 Governor or during the 1-year period after the date of loss, an
275 insured or a claimant may cancel a public adjuster’s contract to
276 adjust a claim without penalty or obligation within 14 calendar
277 days after the date on which the contract is executed. The
278 public adjuster’s contract must disclose to the insured or
279 claimant his or her right to cancel the contract and advise the
280 insured or claimant that notice of cancellation must be
281 submitted in writing and sent by certified mail, return receipt
282 requested, or other form of mailing that provides proof thereof,
283 to the public adjuster at the address specified in the contract.
284 Any public adjuster’s contract entered into pursuant to a state
285 of emergency or during the 1-year period after the date of a
286 loss caused by the state of emergency must contain the following
287 language in minimum 18-point bold type: “You, the insured, may
288 cancel this contract for any reason without penalty or
289 obligation to you within 14 days after the date of this contract
290 by providing notice to ...(name of public adjuster)...,
291 submitted in writing and sent by certified mail, return receipt
292 requested, or other form of mailing that provides proof thereof,
293 at the address specified in the contract. In addition, if
294 ...(name of public adjuster)... fails to provide you with a
295 written estimate (which must include an itemized, per-unit
296 estimate of the repairs, including itemized information on
297 equipment, materials, labor, and supplies, in accordance with
298 accepted industry standards) within 45 days after the date of
299 this contract, you, the insured, may cancel this contract with
300 ...(name of public adjuster)... without penalty or obligation by
301 providing notice as set forth above. This right to cancel the
302 contract without penalty or obligation shall continue until such
303 time as ...(name of public adjuster)... submits the required
304 estimate to you.”; provided, during any state of emergency as
305 declared by the Governor and for 1 year after the date of loss,
306 the insured or claimant has 5 business days after the date on
307 which the contract is executed to cancel a public adjuster’s
308 contract.
309 (11) Each public adjuster must provide to the claimant or
310 insured a written estimate of the loss to assist in the
311 submission of a proof of loss or any other claim for payment of
312 insurance proceeds. The written estimate must include an
313 itemized, per-unit estimate of the repairs, including itemized
314 information on equipment, materials, labor, and supplies, in
315 accordance with accepted industry standards. The public adjuster
316 shall retain such written estimate for at least 5 years and
317 shall make the estimate available to the claimant or insured,
318 the insurer, and the department upon request. Failure to provide
319 the required estimate within 45 calendar days after the date on
320 which the contract is executed shall restore the insured’s right
321 to cancel the public adjuster’s contract without penalty or
322 obligation. The insured retains such right until such time as
323 the public adjuster submits the required estimate.
324 Section 11. Effective January 1, 2021, subsection (3) of
325 section 626.916, Florida Statutes, is amended, and paragraph (f)
326 is added to subsection (1) of that section, to read:
327 626.916 Eligibility for export.—
328 (1) No insurance coverage shall be eligible for export
329 unless it meets all of the following conditions:
330 (f) The insured has signed or otherwise provided documented
331 acknowledgment of a disclosure in substantially the following
332 form: “You are agreeing to place coverage in the surplus lines
333 market. Coverage may be available in the admitted market.
334 Persons insured by surplus lines carriers are not protected
335 under the Florida Insurance Guaranty Act with respect to any
336 right of recovery for the obligation of an insolvent unlicensed
337 insurer.”
338 (3)(a) Subsection (1) does not apply to wet marine and
339 transportation or aviation risks that which are subject to s.
340 626.917.
341 (b) Paragraphs (1)(a)-(d) do not apply to classes of
342 insurance which are subject to s. 627.062(3)(d)1. These classes
343 may be exportable under the following conditions:
344 1. The insurance must be placed only by or through a
345 surplus lines agent licensed in this state;
346 2. The insurer must be made eligible under s. 626.918; and
347 3. The insured has complied with paragraph (1)(f) must sign
348 a disclosure that substantially provides the following: “You are
349 agreeing to place coverage in the surplus lines market. Superior
350 coverage may be available in the admitted market and at a lesser
351 cost. Persons insured by surplus lines carriers are not
352 protected under the Florida Insurance Guaranty Act with respect
353 to any right of recovery for the obligation of an insolvent
354 unlicensed insurer.” If the disclosure notice is signed by the
355 insured, the insured is presumed to have been informed and to
356 know that other coverage may be available, and, with respect to
357 the diligent-effort requirement under subsection (1), there is
358 no liability on the part of, and no cause of action arises
359 against, the retail agent presenting the form.
360 Section 12. Paragraph (z) of subsection (1) of section
361 626.9541, Florida Statutes, is amended to read:
362 626.9541 Unfair methods of competition and unfair or
363 deceptive acts or practices defined.—
364 (1) UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE
365 ACTS.—The following are defined as unfair methods of competition
366 and unfair or deceptive acts or practices:
367 (z) Sliding.—Sliding is the act or practice of any of the
368 following:
369 1. Representing to the applicant that a specific ancillary
370 coverage or product is required by law in conjunction with the
371 purchase of insurance when such coverage or product is not
372 required.;
373 2. Representing to the applicant that a specific ancillary
374 coverage or product is included in the policy applied for
375 without an additional charge when such charge is required.; or
376 3. Charging an applicant for a specific ancillary coverage
377 or product, in addition to the cost of the insurance coverage
378 applied for, without the informed consent of the applicant.
379 4. Initiating, effectuating, binding, or otherwise issuing
380 a policy of insurance without the prior informed consent of the
381 owner of the property to be insured.
382 5. Mailing, transmitting, or otherwise submitting by any
383 means an invoice for premium payment to a mortgagee or escrow
384 agent, for the purpose of effectuating an insurance policy,
385 without the prior informed consent of the owner of the property
386 to be insured. However, this subparagraph does not apply in
387 cases where the mortgagee or escrow agent is renewing insurance
388 or issuing collateral protection insurance, as defined in s.
389 624.6085, pursuant to the mortgage or other pertinent loan
390 documents or communications regarding the property.
391 Section 13. Effective January 1, 2021, subsection (3) of
392 section 626.9741, Florida Statutes, is amended to read:
393 626.9741 Use of credit reports and credit scores by
394 insurers.—
395 (3) An insurer must inform an applicant or insured, in the
396 same medium as the application is taken, that a credit report or
397 score is being requested for underwriting or rating purposes.
398 The notification to the consumer must include the following
399 language: “The Department of Financial Services offers free
400 financial literacy programs to assist you with insurance-related
401 questions, including how credit works and how credit scores are
402 calculated. To learn more, call 1-877-693-5236 or visit
403 www.MyFloridaCFO.com.” An insurer that makes an adverse decision
404 based, in whole or in part, upon a credit report must provide at
405 no charge, a copy of the credit report to the applicant or
406 insured or provide the applicant or insured with the name,
407 address, and telephone number of the consumer reporting agency
408 from which the insured or applicant may obtain the credit
409 report. The insurer must provide notification to the consumer
410 explaining the reasons for the adverse decision. The reasons
411 must be provided in sufficiently clear and specific language so
412 that a person can identify the basis for the insurer’s adverse
413 decision. Such notification shall include a description of the
414 four primary reasons, or such fewer number as existed, which
415 were the primary influences of the adverse decision. The use of
416 generalized terms such as “poor credit history,” “poor credit
417 rating,” or “poor insurance score” does not meet the explanation
418 requirements of this subsection. A credit score may not be used
419 in underwriting or rating insurance unless the scoring process
420 produces information in sufficient detail to permit compliance
421 with the requirements of this subsection. It shall not be deemed
422 an adverse decision if, due to the insured’s credit report or
423 credit score, the insured continues to receive a less favorable
424 rate or placement in a less favorable tier or company at the
425 time of renewal except for renewals or reunderwriting required
426 by this section.
427 Section 14. Subsection (1) of section 626.9957, Florida
428 Statutes, is amended to read:
429 626.9957 Conduct prohibited; denial, revocation, or
430 suspension of registration.—
431 (1) As provided in s. 626.112, only a person licensed as an
432 insurance agent or customer representative may engage in the
433 solicitation of insurance. A person who engages in the
434 solicitation of insurance as described in s. 626.112(1) without
435 such license is subject to the penalties provided under s.
436 626.112(10) s. 626.112(9).
437 Section 15. Subsection (10) of section 627.062, Florida
438 Statutes, is amended to read:
439 627.062 Rate standards.—
440 (10) Any interest paid pursuant to s. 627.70131(7) s.
441 627.70131(5) may not be included in the insurer’s rate base and
442 may not be used to justify a rate or rate change.
443 Section 16. Effective January 1, 2021, subsection (6) is
444 added to section 627.421, Florida Statutes, to read:
445 627.421 Delivery of policy.—
446 (6) For personal lines residential property insurance
447 policies, the insurer shall, between March 1 and June 1 of each
448 year, inclusive, deliver an outline of the hurricane coverage as
449 specified in s. 627.4143(3), along with a current policy
450 declarations page. This requirement shall apply only for those
451 insureds who have provided the insurer with a valid e-mail
452 address. This information shall be delivered directly to the
453 policyholder via e-mail or by an e-mail notice of information
454 being posted to a secure web-based policy information page.
455 Section 17. Section 627.502, Florida Statutes, is amended
456 to read:
457 627.502 “Industrial life insurance” defined; reporting;
458 prohibition on new policies after a certain date.—
459 (1) For the purposes of this code, “industrial life
460 insurance” is that form of life insurance written under policies
461 under which premiums are payable monthly or more often, bearing
462 the words “industrial policy” or “weekly premium policy” or
463 words of similar import imprinted upon the policies as part of
464 the descriptive matter, and issued by an insurer that which, as
465 to such industrial life insurance, is operating under a system
466 of collecting a debit by its agent.
467 (2) Every life insurer servicing existing transacting
468 industrial life insurance shall report to the office all annual
469 statement data regarding the exhibit of life insurance,
470 including relevant information for industrial life insurance.
471 (3) Beginning July 1, 2020, a life insurer may not write a
472 new policy of industrial life insurance.
473 Section 18. Paragraph (a) of subsection (3) of section
474 627.7011, Florida Statutes, is amended to read:
475 627.7011 Homeowners’ policies; offer of replacement cost
476 coverage and law and ordinance coverage.—
477 (3) In the event of a loss for which a dwelling or personal
478 property is insured on the basis of replacement costs:
479 (a) For a dwelling, the insurer must initially pay at least
480 the actual cash value of the insured loss, less any applicable
481 deductible. The insurer shall pay any remaining amounts
482 necessary to perform such repairs as work is performed and
483 expenses are incurred. If a total loss of a dwelling occurs, the
484 insurer shall pay the replacement cost coverage without
485 reservation or holdback of any depreciation in value, pursuant
486 to s. 627.702. A list of recommended or preferred vendors may be
487 provided to the insured for repairs to the dwelling only if
488 requested by the insured.
489 Section 19. Effective January 1, 2021, section 627.70131,
490 Florida Statutes, is amended to read:
491 627.70131 Insurer’s duty to acknowledge communications
492 regarding claims; investigation.—
493 (1)(a) Upon an insurer’s receiving a communication with
494 respect to a claim, the insurer shall, within 14 calendar days,
495 review and acknowledge receipt of such communication unless
496 payment is made within that period of time or unless the failure
497 to acknowledge is caused by factors beyond the control of the
498 insurer which reasonably prevent such acknowledgment. If the
499 acknowledgment is not in writing, a notification indicating
500 acknowledgment shall be made in the insurer’s claim file and
501 dated. A communication made to or by a representative an agent
502 of an insurer with respect to a claim shall constitute
503 communication to or by the insurer.
504 (b) As used in this subsection, the term “representative”
505 “agent” means any person to whom an insurer has granted
506 authority or responsibility to receive or make such
507 communications with respect to claims on behalf of the insurer.
508 (c) This subsection shall not apply to claimants
509 represented by counsel beyond those communications necessary to
510 provide forms and instructions.
511 (2) Such acknowledgment shall be responsive to the
512 communication. If the communication constitutes a notification
513 of a claim, unless the acknowledgment reasonably advises the
514 claimant that the claim appears not to be covered by the
515 insurer, the acknowledgment shall provide necessary claim forms,
516 and instructions, including an appropriate telephone number.
517 (3)(a) Unless otherwise provided by the policy of insurance
518 or by law, within 10 business working days after an insurer
519 receives proof of loss statements, the insurer shall begin such
520 investigation as is reasonably necessary unless the failure to
521 begin such investigation is caused by factors beyond the control
522 of the insurer which reasonably prevent the commencement of such
523 investigation.
524 (b) If such investigation involves a physical inspection of
525 the property, the licensed adjuster assigned by the insurer must
526 provide the policyholder with his or her name, license number,
527 and contact information.
528 (c) If an insurer assigns the claim to a different licensed
529 adjuster from the adjuster who performed the physical
530 inspection, the insurer must, within 14 days after changing the
531 licensed insurance adjuster assigned to a claim, provide the
532 name, license number, and contact information of the new
533 adjuster to the policyholder. The notification may be made
534 electronically or via mail. If the notification is a physical
535 letter, it must be postmarked within 14 days after the change in
536 adjuster. The policyholder must be provided notice of any
537 subsequent change to the assigned adjuster as set forth by this
538 paragraph.
539 (4) An insurer shall establish a process by which an agent
540 of record for an insurance policy receives the same notice as
541 the policyholder as provided in paragraphs (3)(b) and (3)(c) in
542 order to assist the agent of record in answering the
543 policyholder’s questions regarding claims. As used in this
544 subsection, the term “agent of record” means the agent named on
545 the declarations page of the insurance policy or, if there is no
546 agent of record, another designated point of contact.
547 (5) For purposes of this section, the term “insurer” means
548 any residential property insurer.
549 (6)(a) When providing a preliminary or partial estimate of
550 damage regarding a claim, an insurer shall include with the
551 estimate the following statement printed in at least 12-point
552 bold, uppercase type: THIS ESTIMATE REPRESENTS OUR CURRENT
553 EVALUATION OF THE COVERED DAMAGES TO YOUR INSURED PROPERTY AND
554 MAY BE REVISED AS WE CONTINUE TO EVALUATE YOUR CLAIM. IF YOU
555 HAVE QUESTIONS, CONCERNS, OR ADDITIONAL INFORMATION REGARDING
556 YOUR CLAIM, WE ENCOURAGE YOU TO CONTACT US.
557 (b) When providing a payment on a claim which is not the
558 full and final payment for the claim, an insurer shall include
559 with the payment the following statement printed in at least 12
560 point bold, uppercase type: WE ARE CONTINUING TO EVALUATE YOUR
561 CLAIM INVOLVING YOUR INSURED PROPERTY AND MAY ISSUE ADDITIONAL
562 PAYMENTS. IF YOU HAVE QUESTIONS, CONCERNS, OR ADDITIONAL
563 INFORMATION REGARDING YOUR CLAIM, WE ENCOURAGE YOU TO CONTACT
564 US.
565 (7)(5)(a) Within 90 calendar days after an insurer receives
566 notice of an initial, reopened, or supplemental property
567 insurance claim from a policyholder, the insurer shall pay or
568 deny such claim or a portion of the claim unless the failure to
569 pay is caused by factors beyond the control of the insurer which
570 reasonably prevent such payment. Any payment of an initial or
571 supplemental claim or portion of such claim made 90 calendar
572 days after the insurer receives notice of the claim, or made
573 more than 15 days after there are no longer factors beyond the
574 control of the insurer which reasonably prevented such payment,
575 whichever is later, bears interest at the rate set forth in s.
576 55.03. Interest begins to accrue from the date the insurer
577 receives notice of the claim. The provisions of this subsection
578 may not be waived, voided, or nullified by the terms of the
579 insurance policy. If there is a right to prejudgment interest,
580 the insured shall select whether to receive prejudgment interest
581 or interest under this subsection. Interest is payable when the
582 claim or portion of the claim is paid. Failure to comply with
583 this subsection constitutes a violation of this code. However,
584 failure to comply with this subsection does not form the sole
585 basis for a private cause of action.
586 (b) Notwithstanding subsection (5) (4), for purposes of
587 this subsection, the term “claim” means any of the following:
588 1. A claim under an insurance policy providing residential
589 coverage as defined in s. 627.4025(1);
590 2. A claim for structural or contents coverage under a
591 commercial property insurance policy if the insured structure is
592 10,000 square feet or less; or
593 3. A claim for contents coverage under a commercial tenant
594 policy if the insured premises is 10,000 square feet or less.
595 (c) This subsection shall not apply to claims under an
596 insurance policy covering nonresidential commercial structures
597 or contents in more than one state.
598 (8) This section also applies to surplus lines insurers and
599 surplus lines insurance authorized under ss. 626.913-626.937
600 providing residential coverage, where coverage on the primary
601 insured structure is less than $700,000.
602 Section 20. Section 627.7031, Florida Statutes, is created
603 to read:
604 627.7031 Foreign venue clauses prohibited.—After July 1,
605 2020, a personal residential property insurance policy sold in
606 this state, insuring only real property located in this state,
607 may not require an insured to pursue dispute resolution through
608 litigation, arbitration, or mediation outside this state. This
609 section also applies to surplus lines insurers and surplus lines
610 insurance authorized under ss. 626.913-626.937.
611 Section 21. Effective January 1, 2021, section 627.7142,
612 Florida Statutes, is amended to read:
613 627.7142 Homeowner Claims Bill of Rights.—An insurer
614 issuing a personal lines residential property insurance policy
615 in this state must provide a Homeowner Claims Bill of Rights to
616 a policyholder within 14 days after receiving an initial
617 communication with respect to a claim, unless the claim follows
618 an event that is the subject of a declaration of a state of
619 emergency by the Governor. The purpose of the bill of rights is
620 to summarize, in simple, nontechnical terms, existing Florida
621 law regarding the rights of a personal lines residential
622 property insurance policyholder who files a claim of loss. The
623 Homeowner Claims Bill of Rights is specific to the claims
624 process and does not represent all of a policyholder’s rights
625 under Florida law regarding the insurance policy. The Homeowner
626 Claims Bill of Rights does not create a civil cause of action by
627 any individual policyholder or class of policyholders against an
628 insurer or insurers. The failure of an insurer to properly
629 deliver the Homeowner Claims Bill of Rights is subject to
630 administrative enforcement by the office but is not admissible
631 as evidence in a civil action against an insurer. The Homeowner
632 Claims Bill of Rights does not enlarge, modify, or contravene
633 statutory requirements, including, but not limited to, ss.
634 626.854, 626.9541, 627.70131, 627.7015, and 627.7074, and does
635 not prohibit an insurer from exercising its right to repair
636 damaged property in compliance with the terms of an applicable
637 policy or ss. 627.7011(5)(e) and 627.702(7). The Homeowner
638 Claims Bill of Rights must state:
639
640 HOMEOWNER CLAIMS
641 BILL OF RIGHTS
642 This Bill of Rights is specific to the claims process
643 and does not represent all of your rights under
644 Florida law regarding your policy. There are also
645 exceptions to the stated timelines when conditions are
646 beyond your insurance company’s control. This document
647 does not create a civil cause of action by an
648 individual policyholder, or a class of policyholders,
649 against an insurer or insurers and does not prohibit
650 an insurer from exercising its right to repair damaged
651 property in compliance with the terms of an applicable
652 policy.
653
654 YOU HAVE THE RIGHT TO:
655 1. Receive from your insurance company an
656 acknowledgment of your reported claim within 14
657 calendar days after the time you communicated the
658 claim.
659 2. Upon written request, receive from your
660 insurance company within 30 days after you have
661 submitted a complete proof-of-loss statement to your
662 insurance company, confirmation that your claim is
663 covered in full, partially covered, or denied, or
664 receive a written statement that your claim is being
665 investigated.
666 3. Within 14 calendar days, receive notification
667 from your insurance company if there has been a change
668 in the company adjuster who is assigned to your claim.
669 The notification must include the assigned adjuster’s
670 contact information.
671 4. Within 90 calendar days, subject to any dual
672 interest noted in the policy, receive full settlement
673 payment for your claim or payment of the undisputed
674 portion of your claim, or your insurance company’s
675 denial of your claim.
676 5. Receive payment of interest, as provided in s.
677 627.7031, from your insurance company, which begins
678 accruing from the date your claim is filed if your
679 insurance company does not pay full settlement of your
680 initial, reopened, or supplemental claim or the
681 undisputed portion of your claim or does not deny your
682 claim within 90 calendar days after your claim is
683 filed. The interest, if applicable, must be paid when
684 your claim or undisputed portion of your claim is
685 paid.
686 6.4. Free mediation of your disputed claim by the
687 Florida Department of Financial Services, Division of
688 Consumer Services, under most circumstances and
689 subject to certain restrictions.
690 7.5. Neutral evaluation of your disputed claim,
691 if your claim is for damage caused by a sinkhole and
692 is covered by your policy.
693 8.6. Contact the Florida Department of Financial
694 Services, Division of Consumer Services’ toll-free
695 helpline for assistance with any insurance claim or
696 questions pertaining to the handling of your claim.
697 You can reach the Helpline by phone at...(toll-free
698 phone number)..., or you can seek assistance online at
699 the Florida Department of Financial Services, Division
700 of Consumer Services’ website at...(website
701 address)....
702
703 YOU ARE ADVISED TO:
704 1. Contact your insurance company before entering
705 into any contract for repairs to confirm any managed
706 repair policy provisions or optional preferred
707 vendors.
708 2. Make and document emergency repairs that are
709 necessary to prevent further damage. Keep the damaged
710 property, if feasible, keep all receipts, and take
711 photographs or video of damage before and after any
712 repairs to provide to your insurer.
713 3. Carefully read any contract that requires you
714 to pay out-of-pocket expenses or a fee that is based
715 on a percentage of the insurance proceeds that you
716 will receive for repairing or replacing your property.
717 4. Confirm that the contractor you choose is
718 licensed to do business in Florida. You can verify a
719 contractor’s license and check to see if there are any
720 complaints against him or her by calling the Florida
721 Department of Business and Professional Regulation.
722 You should also ask the contractor for references from
723 previous work.
724 5. Require all contractors to provide proof of
725 insurance before beginning repairs.
726 6. Take precautions if the damage requires you to
727 leave your home, including securing your property and
728 turning off your gas, water, and electricity, and
729 contacting your insurance company and provide a phone
730 number where you can be reached.
731 Section 22. Paragraph (a) of subsection (1) and subsection
732 (6) of section 631.57, Florida Statutes, are amended to read:
733 631.57 Powers and duties of the association.—
734 (1) The association shall:
735 (a)1. Be obligated to the extent of the covered claims
736 existing:
737 a. Prior to adjudication of insolvency and arising within
738 30 days after the determination of insolvency;
739 b. Before the policy expiration date if less than 30 days
740 after the determination; or
741 c. Before the insured replaces the policy or causes its
742 cancellation, if she or he does so within 30 days of the
743 determination.
744 2. The obligation under subparagraph 1. includes only the
745 amount of each covered claim which is in excess of $100 and is
746 less than $300,000, except that policies providing coverage for
747 homeowner’s insurance shall provide for an additional $200,000
748 for the portion of a covered claim which relates only to the
749 damage to the structure and contents.
750 3.a. Notwithstanding subparagraph 2., the obligation under
751 subparagraph 1. for policies covering condominium associations
752 or homeowners’ associations, which associations have a
753 responsibility to provide insurance coverage on residential
754 units within the association, shall include that amount of each
755 covered property insurance claim which is less than $100,000
756 multiplied by the number of condominium units or other
757 residential units; however, as to homeowners’ associations, this
758 sub-subparagraph applies only to claims for damage or loss to
759 residential units and structures attached to residential units.
760 b. Notwithstanding sub-subparagraph a., the association has
761 no obligation to pay covered claims that are to be paid from the
762 proceeds of bonds issued under s. 631.695. However, the
763 association shall assign and pledge the first available moneys
764 from all or part of the assessments to be made under paragraph
765 (3)(a) to or on behalf of the issuer of such bonds for the
766 benefit of the holders of such bonds. The association shall
767 administer any such covered claims and present valid covered
768 claims for payment in accordance with the provisions of the
769 assistance program in connection with which such bonds have been
770 issued.
771 4. In no event shall the association be obligated to a
772 policyholder or claimant in an amount in excess of the
773 obligation of the insolvent insurer under the policy from which
774 the claim arises.
775 (6) The association may extend the time limits specified in
776 paragraph (1)(a) by up to an additional 60 days or waive the
777 applicability of the $100 deductible specified in paragraph
778 (1)(a) if the board determines that either or both such actions
779 are necessary to facilitate the bulk assumption of obligations.
780 Section 23. Section 648.30, Florida Statutes, is amended to
781 read:
782 648.30 Licensure and appointment required; prohibited acts;
783 penalties.—
784 (1) A person may not act in the capacity of a bail bond
785 agent or temporary bail bond agent or perform any of the
786 functions, duties, or powers prescribed for bail bond agents or
787 temporary bail bond agents under this chapter unless that person
788 is qualified, licensed, and appointed as provided in this
789 chapter.
790 (2) A person may not represent himself or herself to be a
791 bail enforcement agent, bounty hunter, or other similar title in
792 this state.
793 (3) A person, other than a certified law enforcement
794 officer, may not apprehend, detain, or arrest a principal on a
795 bond, wherever issued, unless that person is qualified,
796 licensed, and appointed as provided in this chapter or licensed
797 as a bail bond agent or bail bond enforcement agent, or holds an
798 equivalent license by the state where the bond was written.
799 (4) Any person who violates this section commits a felony
800 of the third degree, punishable as provided in s. 775.082, s.
801 775.083, or s. 775.084.
802 (5) Any licensee under this chapter who knowingly aids or
803 abets an unlicensed person in violating this section commits a
804 felony of the third degree, punishable as provided in s.
805 775.082, s. 775.083, or s. 775.084.
806 Section 24. Paragraphs (b) and (c) of subsection (4) and
807 subsections (1) and (10) of section 717.124, Florida Statutes,
808 are amended to read:
809 717.124 Unclaimed property claims.—
810 (1) Any person, excluding another state, claiming an
811 interest in any property paid or delivered to the department
812 under this chapter may file with the department a claim on a
813 form prescribed by the department and verified by the claimant
814 or the claimant’s representative. The claimant’s representative
815 must be an attorney licensed to practice law in this state, a
816 licensed Florida-certified public accountant, or a private
817 investigator licensed under chapter 493. The claimant’s
818 representative must be registered with the department under this
819 chapter. The claimant, or the claimant’s representative, shall
820 provide the department with a legible copy of a valid driver
821 license of the claimant at the time the original claim form is
822 filed. If the claimant has not been issued a valid driver
823 license at the time the original claim form is filed, the
824 department shall be provided with a legible copy of a
825 photographic identification of the claimant issued by the United
826 States, a state or territory of the United States, a foreign
827 nation, or a political subdivision or agency thereof or other
828 evidence deemed acceptable by the department by rule. In lieu of
829 photographic identification, a notarized sworn statement by the
830 claimant may be provided which affirms the claimant’s identity
831 and states the claimant’s full name and address. The claimant
832 must produce to the notary photographic identification of the
833 claimant issued by the United States, a state or territory of
834 the United States, a foreign nation, or a political subdivision
835 or agency thereof or other evidence deemed acceptable by the
836 department by rule. The notary shall indicate the notary’s full
837 address on the notarized sworn statement. Any claim filed
838 without the required identification or the sworn statement with
839 the original claim form and the original Florida Uniform
840 Unclaimed Property Recovery Agreement or Florida Uniform
841 Property Purchase Agreement power of attorney or purchase
842 agreement, if applicable, is void.
843 (a) Within 90 days after receipt of a claim, the department
844 may return any claim that provides for the receipt of fees and
845 costs greater than that permitted under this chapter or that
846 contains any apparent errors or omissions. The department may
847 also request that the claimant or the claimant’s representative
848 provide additional information. The department shall retain a
849 copy or electronic image of the claim.
850 (b) A claimant or the claimant’s representative shall be
851 deemed to have withdrawn a claim if no response to the
852 department’s request for additional information is received by
853 the department within 60 days after the notification of any
854 apparent errors or omissions.
855 (c) Within 90 days after receipt of the claim, or the
856 response of the claimant or the claimant’s representative to the
857 department’s request for additional information, whichever is
858 later, the department shall determine each claim. Such
859 determination shall contain a notice of rights provided by ss.
860 120.569 and 120.57. The 90-day period shall be extended by 60
861 days if the department has good cause to need additional time or
862 if the unclaimed property:
863 1. Is owned by a person who has been a debtor in
864 bankruptcy;
865 2. Was reported with an address outside of the United
866 States;
867 3. Is being claimed by a person outside of the United
868 States; or
869 4. Contains documents filed in support of the claim that
870 are not in the English language and have not been accompanied by
871 an English language translation.
872 (d) The department shall deny any claim under which the
873 claimant’s representative has refused to authorize the
874 department to reduce the fees and costs to the maximum permitted
875 under this chapter.
876 (4)
877 (b) If an owner authorizes an attorney licensed to practice
878 law in this state, Florida-certified public accountant, or
879 private investigator licensed under chapter 493, and registered
880 with the department under this chapter, to claim the unclaimed
881 property on the owner’s behalf, the department is authorized to
882 make distribution of the property or money in accordance with
883 the Florida Uniform Unclaimed Property Recovery Agreement or
884 Florida Uniform Property Purchase Agreement under s. 717.135
885 such power of attorney. The original Florida Uniform Unclaimed
886 Property Recovery Agreement or Florida Uniform Property Purchase
887 Agreement power of attorney must be executed by the claimant or
888 seller owner and must be filed with the department.
889 (c)1. Payments of approved claims for unclaimed cash
890 accounts shall be made to the owner after deducting any fees and
891 costs authorized pursuant to a Florida Uniform Unclaimed
892 Property Recovery Agreement written power of attorney. The
893 contents of a safe-deposit box shall be delivered directly to
894 the claimant notwithstanding any power of attorney or agreement
895 to the contrary.
896 2. Payments of fees and costs authorized pursuant to a
897 Florida Uniform Unclaimed Property Recovery Agreement written
898 power of attorney for approved claims must shall be made or
899 issued to the law firm of the designated attorney licensed to
900 practice law in this state, the public accountancy firm of the
901 licensed Florida-certified public accountant, or the designated
902 employing private investigative agency licensed by this state.
903 Such payments shall be made by electronic funds transfer and may
904 be made on such periodic schedule as the department may define
905 by rule, provided the payment intervals do not exceed 31 days.
906 Payment made to an attorney licensed in this state, a Florida
907 certified public accountant, or a private investigator licensed
908 under chapter 493, operating individually or as a sole
909 practitioner, shall be to the attorney, certified public
910 accountant, or private investigator.
911 (10) Notwithstanding any other provision of this chapter,
912 the department may develop a process by which a registered
913 claimant’s representative or a buyer of unclaimed property may
914 electronically submit to the department an electronic image of a
915 completed claim and claims-related documents pursuant to this
916 chapter, including a Florida Uniform Unclaimed Property Recovery
917 Agreement or Florida Uniform Property Purchase Agreement a
918 limited power of attorney or purchase agreement that has been
919 manually signed and dated by a claimant or seller pursuant to s.
920 717.135 or s. 717.1351, after the claimant’s representative or
921 the buyer of unclaimed property receives the original documents
922 provided by the claimant or the seller for any claim. Each claim
923 filed by a registered claimant’s representative or a buyer of
924 unclaimed property must include a statement by the claimant’s
925 representative or the buyer of unclaimed property attesting that
926 all documents are true copies of the original documents and that
927 all original documents are physically in the possession of the
928 claimant’s representative or the buyer of unclaimed property.
929 All original documents must be kept in the original form, by
930 claim number, under the secure control of the claimant’s
931 representative or the buyer of unclaimed property and must be
932 available for inspection by the department in accordance with s.
933 717.1315. The department may adopt rules to implement this
934 subsection.
935 Section 25. Subsection (2) of section 717.12404, Florida
936 Statutes, is amended to read:
937 717.12404 Claims on behalf of a business entity or trust.—
938 (2) Claims on behalf of a dissolved corporation, a business
939 entity other than an active corporation, or a trust must include
940 a legible copy of a valid driver license of the person acting on
941 behalf of the dissolved corporation, business entity other than
942 an active corporation, or trust. If the person has not been
943 issued a valid driver license, the department shall be provided
944 with a legible copy of a photographic identification of the
945 person issued by the United States, a foreign nation, or a
946 political subdivision or agency thereof. In lieu of photographic
947 identification, a notarized sworn statement by the person may be
948 provided which affirms the person’s identity and states the
949 person’s full name and address. The person must produce his or
950 her photographic identification issued by the United States, a
951 state or territory of the United States, a foreign nation, or a
952 political subdivision or agency thereof or other evidence deemed
953 acceptable by the department by rule. The notary shall indicate
954 the notary’s full address on the notarized sworn statement. Any
955 claim filed without the required identification or the sworn
956 statement with the original claim form and the original Florida
957 Uniform Unclaimed Property Recovery Agreement or Florida Uniform
958 Property Purchase Agreement power of attorney, if applicable, is
959 void.
960 Section 26. Subsection (1) of section 717.1315, Florida
961 Statutes, is amended to read:
962 717.1315 Retention of records by claimant’s representatives
963 and buyers of unclaimed property.—
964 (1) Every claimant’s representative and buyer of unclaimed
965 property shall keep and use in his or her business such books,
966 accounts, and records of the business conducted under this
967 chapter to enable the department to determine whether such
968 person is complying with this chapter and the rules adopted by
969 the department under this chapter. Every claimant’s
970 representative and buyer of unclaimed property shall preserve
971 such books, accounts, and records, including every Florida
972 Uniform Unclaimed Property Recovery Agreement or Florida Uniform
973 Property Purchase Agreement power of attorney or agreement
974 between the owner and such claimant’s representative or buyer,
975 for at least 3 years after the date of the initial power of
976 attorney or agreement.
977 Section 27. Paragraph (j) of subsection (1) of section
978 717.1322, Florida Statutes, is amended to read:
979 717.1322 Administrative and civil enforcement.—
980 (1) The following acts are violations of this chapter and
981 constitute grounds for an administrative enforcement action by
982 the department in accordance with the requirements of chapter
983 120 and for civil enforcement by the department in a court of
984 competent jurisdiction:
985 (j) Requesting or receiving compensation for notifying a
986 person of his or her unclaimed property or assisting another
987 person in filing a claim for unclaimed property, unless the
988 person is an attorney licensed to practice law in this state, a
989 Florida-certified public accountant, or a private investigator
990 licensed under chapter 493, or entering into, or making a
991 solicitation to enter into, an agreement a power of attorney to
992 file a claim for unclaimed property owned by another, or a
993 contract or agreement to purchase unclaimed property, unless
994 such person is registered with the department pursuant to this
995 chapter and an attorney licensed to practice law in this state
996 in the regular practice of her or his profession, a Florida
997 certified public accountant who is acting within the scope of
998 the practice of public accounting as defined in chapter 473, or
999 a private investigator licensed under chapter 493. This
1000 subsection does not apply to a person who has been granted a
1001 durable power of attorney to convey and receive all of the real
1002 and personal property of the owner, is the court-appointed
1003 guardian of the owner, has been employed as an attorney or
1004 qualified representative to contest the department’s denial of a
1005 claim, or has been employed as an attorney to probate the estate
1006 of the owner or an heir or legatee of the owner.
1007 Section 28. Section 717.135, Florida Statutes, is amended
1008 to read:
1009 (Substantial rewording of section. See
1010 s. 717.135, F.S., for present text.)
1011 717.135 Recovery agreements and purchase agreements for
1012 claims filed by claimant’s representative; fees and costs.—
1013 (1) In order to protect the interests of owners of
1014 unclaimed property, the department shall adopt by rule a form
1015 entitled “Florida Uniform Unclaimed Property Recovery Agreement”
1016 and a form entitled “Florida Uniform Property Purchase
1017 Agreement.”
1018 (2) The Florida Uniform Unclaimed Property Recovery
1019 Agreement form and the Florida Uniform Property Purchase
1020 Agreement form must include and disclose:
1021 (a) The total dollar amount of unclaimed property accounts
1022 claimed or sold.
1023 (b) Either the total percentage of all authorized fees and
1024 costs to be paid to the claimant’s representative or the
1025 percentage of the value of the property to be paid as net gain
1026 to the purchasing registered claimant’s representative.
1027 (c) Either the total dollar amount to be deducted and
1028 received from the claimant as fees and costs by the claimant’s
1029 representative or the total net dollar amount to be received by
1030 the purchasing registered claimant’s representative.
1031 (d) The net dollar amount to be received by the claimant or
1032 seller.
1033 (e) For each account claimed, the unclaimed property
1034 account number and name of the apparent owner, as listed on the
1035 department’s database.
1036 (f) For the Florida Uniform Property Purchase Agreement, a
1037 statement that the purchase price will be remitted to the seller
1038 within 30 days after the execution of the form by the seller.
1039 (g) The name, address, e-mail address, phone number, and
1040 license number of the registered claimant’s representative.
1041 (h) The manual signature of the claimant or seller and the
1042 date signed.
1043 (i) The social security number or taxpayer identification
1044 number of the claimant or seller, if available. A number is
1045 available if one has been issued to the claimant or seller.
1046 (j) A limit of total fees and costs, or the total discount
1047 amount in the case of a purchase agreement, to no more than 20
1048 percent of the claimed amount.
1049 (3) For a Florida Uniform Property Purchase Agreement form,
1050 proof that the seller has received payment must be filed with
1051 the department along with the claim. If proof of payment is not
1052 provided, the claim is void.
1053 (4) A registered claimant’s representative shall use the
1054 Florida Uniform Unclaimed Property Recovery Agreement form or
1055 the Florida Uniform Property Purchase Agreement form as the
1056 exclusive means of engaging with a claimant or seller to file a
1057 claim with the department.
1058 (5) Fees and costs may be owed or paid to a registered
1059 claimant’s representative only pursuant to the forms authorized
1060 by this section and upon approval of the claim filed thereby.
1061 (6) A claimant’s representative may not use or distribute
1062 any other agreement of any type with respect to the claimant or
1063 seller which relates to unclaimed property accounts held by the
1064 department or the Chief Financial Officer other than the
1065 agreements authorized by this section. Any agreement that is not
1066 authorized by this section is null and void.
1067 (7) The forms under subsection (1):
1068 (a) May not contain language that makes the agreement
1069 irrevocable; and
1070 (b) May not contain language that creates an assignment of
1071 any unclaimed property held by the department.
1072 (8) This section does not supersede the conflicting claims
1073 provisions of s. 717.1241.
1074 (9) At the time a claim is approved, the department may pay
1075 any additional account that is owned by the claimant but has not
1076 been claimed at the time of approval, provided that no
1077 subsequent claim has been filed and is pending for the claimant
1078 at the time of approval.
1079 Section 29. Section 717.1351, Florida Statutes, is
1080 repealed.
1081 Section 30. Except as otherwise expressly provided in this
1082 act, this act shall take effect upon becoming a law.
