& SUMMARY: These rules are being amended to clarify the statutory requirements under section 717.135, Florida Statutes, for filing claims; remove unnecessary language; and repealing an obsolete form.

 

DEPARTMENT OF FINANCIAL SERVICES

Division of Accounting and Auditing

RULE NOS.:RULE TITLES:

69I-20.001Registration

69I-20.0021Procedures for Filing Claim

PURPOSE, EFFECT & SUMMARY: These rules are being amended to clarify the statutory requirements under section 717.135, Florida Statutes, for filing claims; remove unnecessary language; and repealing an obsolete form.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: The Bureau of Unclaimed Property conducted an analysis of the proposed rule’s potential economic impact and determined that it did not exceed any of the criteria established in subsection 120.541(1), F.S., and it therefore does not require legislative ratification pursuant to subsection 120.541(3), F.S.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 717.138 FS.

LAW IMPLEMENTED: 92.525, 717.1201, 717.124, 717.12403, 717.12404, 717.12405, 717.1242, 717.1243, 717.125, 717.126, 717.1261, 717.1262, 717.135, 717.1351, 717.139, 717.1400 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW (IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):

DATE AND TIME: Wednesday, May 6, 2015, @ 9 AM

PLACE: 116 Larson Building, 200 East Gaines Street, Tallahassee, Florida.

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Phillip Carlton @ [phone] or [e-mail].. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Phillip Carlton, Assistant Bureau Chief, Bureau of Unclaimed Property, Division of Accounting and Auditing, Department of Financial Services, 200 East Gaines Street, Tallahassee, Florida 32399-0356 or [phone] or [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

69I-20.001 Registration.

Sections 717.117(8) and 717.1400, F.S., require that, in In order to file claims as a Claimant’s Representative, acquire ownership or entitlement to unclaimed property, and receive a distribution of fees and costs from the Department, private investigators licensed to practice in the State of Florida, certified public accountants licensed to practice in the State of Florida and attorneys licensed to practice in the State of Florida must register with the Department.

(1) To register with the Bureau of Unclaimed Property a private investigator licensed to practice in the State of Florida must file a duly completed and verified executed, Form DFS-A4-2010, Application for Registration as an Unclaimed Property Claimant Representative – Florida Private Investigator, effective 10-13-10, and must provide the documents specified in the form.

(2) To register with the Bureau of Unclaimed Property a certified public accountant licensed to practice in the State of Florida must file a duly completed and verified executed, Form DFS-A4-2009, Application for Registration as an Unclaimed Property Claimant Representative – Florida Certified Public Accountant, effective 10-13-10, and must provide the documents specified in the form.

(3) To register with the Bureau of Unclaimed Property an attorney licensed to practice in the State of Florida must file a duly completed and verified executed, Form DFS-A4-2008, Application for Registration as an Unclaimed Property Claimant Representative – Florida Attorney, effective 10-13-10, and must provide the documents specified in the form.

(4) No Change.

Rulemaking Authority 717.138 FS. Law Implemented 92.525, 717.124, 717.135, 717.1351, 717.1400 FS. History-New 1-3-05, Amended 10-13-10, _____________.

 

69I-20.0021 Procedures for Filing Claim.

(1) through (4) No Change.

       (5) Claims Filed by Other than Apparent Owners.

       (a) No Change.

       (b) Form DFS-UP-107 shall be manually signed and dated by the claimant and accompanied by the following:

       1. through 4. No Change.

       5. If applicable, the original Purchase Agreement signed and dated by the owner and the buyer pursuant to section Section 717.1351, F.S.

       6. Full disclosure must be provided in accordance with section 717.135, F.S on a duly completed and executed, Form DFS-UP-143, Florida Department of Financial Services Full Disclosure Form, which is hereby incorporated by reference, effective 1-3-05. The original disclosure form must be filed with the Department. The disclosure form and the purchase agreement must be signed and dated on the same day.

       (6) Claims Filed by Claimant's Representative.

       (a) All claims for unclaimed property filed by a Claimant's Representative shall be submitted on Form DFS-UP-108, entitled Claim Filed by Claimant's Representative on Behalf of the Claimant, which is hereby incorporated by reference, effective 1-3-05.

       (b) Form DFS-UP-108 shall be manually signed and dated by the person(s) filing the claim and accompanied by the following:

       1. Original Power of Attorney Recovery Agreement signed and dated by the claimant and the Claimant's Representative pursuant to section Section 717.135, F.S.

       2. No Change.

       3. Personal identification of the person(s) for whom payment is sought as provided in subsection 69I-20.0022(2), F.A.C.  When ownership is claimed by an entity, personal identification of the entity representative is also required as provided in subsection 69I-20.0022(2), F.A.C., and must be filed, unless the entity is an active corporation.

       4. No Change.

       (c) Claimant's Representative Fee Caps.

       1. The Power of Attorney Agreement between the claimant and the Claimant's Representative shall reflect the total fee charged by the Representative for the account(s) listed on the claim form and the Power of Attorney Recovery Agreement.

       2. The Power of Attorney Agreement between the claimant and the Claimant's Representative shall contain either full disclosure or fee caps.

       3. Full disclosure must be provided in accordance with section 717.135, F.S on a duly completed and executed, Form DFS-UP-143, Florida Department of Financial Services Full Disclosure Form, which is hereby incorporated by reference, effective 1-3-05. The original disclosure form must be filed with the Department. The disclosure form and the recovery agreement must be signed and dated on the same day.

       4. If the Power of Attorney Agreement between the claimant and the Claimant's Representative contains fees that exceed statutory caps, the Department will deny the claim.

       5. Fees will be paid when the value of all approved accounts associated with the Power of Attorney Agreement have been determined as follows:

       a. through c. No Change.

6. Contracts for the recovery of small estate accounts pursuant to section Section 717.1243, F.S., by Estate Affidavit (Form DFS-UP-1243), in lieu of probate, are subject to section Section 717.135(1), F.S.

(d) As used in this Section, "Power of Attorney" means the written limited power of attorney agreement pursuant to section 717.135, F.S.

(7) through (10) No Change.

Rulemaking Specific Authority 717.138 FS. Law Implemented 92.525, 717.1201, 717.124, 717.12403, 717.12404, 717.12405, 717.1242, 717.1243, 717.125, 717.126, 717.1261, 717.1262, 717.135, 717.1351, 717.139 FS. History–New 3-20-91, Amended 3-13-96, 3-18-96, 1-18-99, 1-5-00, 4-16-02, Formerly 3D-20..0021, Amended 1-3-05, ______________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Phillip Carlton, Assistant Bureau Chief, Bureau of Unclaimed Property, Division of Accounting and Auditing, Department of Financial Services

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Jeff Atwater, Chief Financial Officer, Department of Financial Services

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: April 7, 2015

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: November 19, 2014