717.1101 Abandoned equity and debt of business associations.—
(1)(a) Stock, other equity interests, or debt of a business association is presumed abandoned on the date of the earliest of any of the following:
1. Three years after the date a communication, other than communications required by s. 717.117, sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States Postal Service. If such returned communication is resent within 1 month to the apparent owner, the 3-year dormancy period does not begin until the day the resent item is returned as undelivered.
2. Five years after the most recent of any account activity or communication initiated by the apparent owner or authorized representative which demonstrates continued interest in the account, as recorded and maintained by the holder. Routine automatic reinvestments or other routine transactions previously authorized by the apparent owner or authorized representative do not prevent, interrupt, or reset the dormancy period and do not constitute an affirmative demonstration of continued interest.
3. Two years after the date of the death of the apparent owner, as evidenced by:
a. Notice to the holder of the apparent owner’s death by an authorized representative;
b. Receipt by the holder of a copy of the death certificate of the apparent owner;
c. Confirmation by the holder of the apparent owner’s death through other means; or
d. Other evidence from which the holder may reasonably conclude that the apparent owner is deceased.
(b) If the holder does not send communication to the apparent owner of a security by first-class United States mail on an annual basis, the holder must attempt to confirm the apparent owner’s interest in the equity interest by sending the apparent owner an e-mail communication not later than 3 years after the apparent owner’s or authorized representative’s last demonstration of continued interest in the equity interest. However, the holder must promptly attempt to contact the apparent owner by first-class United States mail if:
1. The holder does not have information needed to send the apparent owner an e-mail communication or the holder believes that the apparent owner’s e-mail address in the holder’s records is not valid;
2. The holder received notification that the e-mail communication was not received; or
3. The apparent owner does not respond to the e-mail communication within 30 days after the communication was sent.
(c) If first-class United States mail sent under paragraph (b) is returned to the holder undelivered by the United States Postal Service, the equity interest is presumed abandoned in accordance with paragraph (a).
(d) Unmatured or unredeemed debt, other than a bearer bond or an original issue discount bond, is presumed abandoned 5 years after the date of the most recent interest payment unclaimed by the owner.
(e) Matured or redeemed debt is presumed abandoned 5 years after the date of maturity or redemption.
(f) At the time property is presumed abandoned under paragraph (a) or 1paragraph (b), any other property right accrued or accruing to the owner as a result of the property interest and not previously presumed abandoned is also presumed abandoned.
(2) The running of the applicable dormancy period under this section ceases if the apparent owner or authorized representative demonstrates continued interest under s. 717.102, including by any of the following actions:
(a) Communicating in writing or by other means with the association or its agent regarding the interest, dividend, distribution, or other sum payable as a result of the interest, as recorded by the association or its agent.
(b) Presenting an instrument issued to pay interest, a dividend, or other distribution. If any future dividend, distribution, or other sum payable as a result of the interest is subsequently unclaimed, a new period in which the property is presumed abandoned commences and relates back only to the time a subsequent dividend, distribution, or other sum became due and payable.
(3) At the same time any interest is presumed abandoned under this section, any dividend, distribution, or other sum then held for or owing to the owner as a result of the interest, is presumed abandoned.
(4) Any dividend, profit, distribution, interest redemption, payment on principal, or other sum held or owing by a business association for or to a shareholder, certificateholder, member, bondholder, or other security holder, who has not claimed such amount or corresponded in writing with the business association concerning such amount, within 5 years after the date prescribed for payment or delivery, is presumed abandoned.
(5) Notwithstanding any other provision of this section, equity interests in business associations and securities accounts are not presumed abandoned solely due to inactivity if the holder knows the location of the apparent owner.
(a) For purposes of this subsection, a holder must perform data matching of owner records maintained in its database against commercially available third-party data comparison sources to identify updated owner address information and indicators of deceased status. Utilizing any updated information, together with existing information of record, the holder is deemed to know the location of the apparent owner if:
1. The holder communicates with the apparent owner at least annually by first-class United States mail or electronic means, including, but not limited to, e-mail, text message, mobile application, or similar mechanism;
2. Such communication is successfully delivered, meaning not returned as undeliverable; and
3. One or more additional account-level indicators demonstrating an owner indication of interest occur at least once every 10 years, including:
a. Owner-initiated activity, such as authenticated access to a website, mobile engagement via mobile messaging, or other authenticated third-party account servicing software;
b. Updated contact information received through an authorized financial adviser;
c. Responses to account notifications or alerts;
d. Negotiation of distributions, including dividends; or
e. Any other action by the apparent owner or authorized representative which reasonably demonstrates to the holder that the apparent owner or authorized representative is aware of and maintains an interest in the property.
(b) Automatic deposits, reinvestments, or other recurring transactions initiated by the holder may not independently constitute an indication of apparent owner interest for purposes of this section.
(c) If the conditions in paragraph (a) are not satisfied and the owner’s location is deemed unknown, the equity interest or securities account may be presumed abandoned:
1. Ten years after the owner’s most recent indication of interest in the property; or
2. Ten years after the date a communication is returned as undeliverable, unless the owner responds to a due diligence notice before the reporting deadline.
(d) Property described in paragraph (c) is presumed abandoned only after reasonable efforts to locate the owner have been unsuccessful and the holder has complied with the due diligence requirement of this chapter.
(e) This subsection applies to equity interests and securities accounts held directly by the owner or indirectly through a brokerage account or similar account.
History.—s. 11, ch. 87-105; s. 5, ch. 96-301; s. 11, ch. 2001-36; s. 3, ch. 2003-21; s. 3, ch. 2005-163; s. 43, ch. 2024-140; s. 48, ch. 2026-174.
1Note.—Redesignated as paragraph (d) by s. 48, ch. 2026-174.
