Fla. Admin. Code R. 69G-20.030

Current through Reg. 50, No. 222; November 13, 2024

Section 69G-20.030 - DEFINITIONS

As used in this rule chapter.

(1) The definitions provided in section 717.101, F.S., shall also apply to this rule chapter.

(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 unclaimed property with the Department on an annual basis.

(7) "Report of unclaimed property" means a report that complies with all the requirements of sections 717.101 through 717.117 and 717.119, F.S., created in accordance with the Department's prescribed format and filed through the Department's Holder Reporting Online System.

(8) "Zero report" means a report of unclaimed property that has a zero value due to the reporting entity having no unclaimed property for the reporting period.

(9) "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 to claim unclaimed property on the claimant's behalf.

(10) "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.

(11) "Approximate value" or "approximate dollar value," for purposes of sections 717.135 and 717.1351, F.S., means within 15% of the actual value.

(12) "Electronic medium," for purposes of subsection 717.117(1), F.S., means the Holder Reporting Online System, which is a report filing portal available on the Division of Unclaimed Property's website.

(13) "Auction fees, preparation costs, and expenses," for purposes of subsection 717.122(1), F.S., means appraiser and contractor fees, catalogue fees, and travel expenses.

(14) "Claimant" means any person, as defined by subsection 1.01(3), F.S., excluding another state, asserting an interest in any portion of any property paid or delivered to the Department on whose behalf a claim is filed.

(15) "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.

(16) "Electronic record" means a record created, generated, sent, communicated, received, or stored by electronic means.

(17) "Electronic signature" means an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record.

(18) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form, including public records as defined in section 119.011, F.S.

Fla. Admin. Code Ann. R. 69G-20.030

Rulemaking Authority 717.117(1), 717.124, 717.138 FS. Law Implemented 668.50(2), 717.101, 717.102, 717.103, 717.104, 717.1045, 717.105, 717.106, 717.107, 717.1071, 717.108, 717.109, 717.1101, 717.111, 717.112, 717.1125, 717.113, 717.115, 717.116, 717.117, 717.119, 717.1201, 717.122, 717.124, 717.1241, 717.1315, 717.1322(5), 717.135, 717.1351, 717.138, 717.139, 717.1400, 731.201, 736.0103 FS.

New 6-23-91, Amended 1-28-97, 4-16-02, Formerly 3D-20.030, Amended 1-3-05, 4-20-16, Formerly 69I-20.030.