Definitions Florida Unclaimed Money

(1) The definitions provided in Section 717.101, F.S., shall also apply to these rules.

(2) “Service charge” and “maintenance charge” means all documented charges that are incurred by a banking or financial organization with regard to the handling of an account.

(3) “Presumed Unclaimed” means the apparent owner has not indicated an interest in the property for the applicable prescribed period. The interest should be evidenced by communication by the owner with a record of same on file.

(4) “Safekeeping Repository” means safe deposit boxes held in banks and financial institutions.

(5) “Owner of a Cashiers’ Check” is the named payee of the cashiers’ check unless the remitter has a release of ownership from the payee.

(6) “Inactive status” means the holder is not required to file a report of property presumed abandoned with the Department on an annual basis.

(7) “Report of property presumed abandoned” means a completed original set of reporting forms by the holder consisting of Forms DFS-UP-111, 121, 128, and 129 which discloses the amount of unclaimed property, apparent owner(s), last known address, social security number or federal employer identification number, property type, and date of last contact or Form DFS-UP-111 with the specific owner information in an electronic medium.

(8) “Claimant’s Representative” means a Florida attorney-at-law, Florida-certified public accountant, or private investigator who is duly licensed to do business in Florida, registered with the Department, and authorized by the claimant’s to claim unclaimed property on the claimant’s behalf.

(9) “Entity Representative” means one who is legally authorized to represent a claimant that is not a natural person. As used in this definition, the phrase “entity representative” does not include a Claimant’s Representative.

(10) “Approximate value” or “approximate dollar value,” for purposes of Sections 717.135 and 717.1351, F.S., means within 15% of the actual value.

(11) “Electronic medium,” for purposes of Section 717.117(1), F.S., means 3.5 inch Diskette or CD-ROM.

(12) “Auction fees, preparation costs, and expenses,” for purposes of Section 717.122(1), F.S.,