Florida S1452 amends laws regarding the Department of Financial Services' handling of abandoned property.

Florida S1452 amends various sections of the Florida Statutes to revise the handling of abandoned property by the Department of Financial Services. Key changes include modifying the dormancy periods for different types of property, such as checks, deposits, and insurance policies. It also updates the process for holders to report and remit abandoned property, including requirements for due diligence and notice to apparent owners. The bill specifies conditions under which property is presumed abandoned and outlines the department's authority to sell or distribute such property.

Florida S1452 amends laws regarding the Department of Financial Services' handling of abandoned property.

Florida S1452 amends various sections of the Florida Statutes to revise the handling of abandoned property by the Department of Financial Services. Key changes include modifying the dormancy periods for different types of property, such as checks, deposits, and insurance policies. It also updates the process for holders to report and remit abandoned property, including requirements for due diligence and notice to apparent owners. The bill specifies conditions under which property is presumed abandoned and outlines the department's authority to sell or distribute such property.