Florida Statutes
Part I - Social and Economic Assistance (Ss. 409.016-409.5093)
409.25657 - Requirements for financial institutions.

(1) Definitions.—For purposes of this section, reference is made to 42 U.S.C. s. 669A:
(a) “Financial institution” means:
1. A depository institution, as defined in s. 3(c) of the Federal Deposit Insurance Act, 12 U.S.C. s. 1813(c);
2. An institution-affiliated party, as defined in s. 3(u) of such act, 12 U.S.C. s. 1813(u);
3. Any federal credit union or state credit union, as defined in s. 101 of the Federal Credit Union Act, 12 U.S.C. s. 1752, including an institution-affiliated party of such a credit union, as defined in s. 206(r) of such act, 12 U.S.C. s. 1786(r); and
4. Any benefit association, insurance company, safe deposit company, money-market mutual fund, or similar entity authorized to do business in the state.

(b) An “account” means a demand deposit account, checking or negotiable withdrawal order account, savings account, time deposit account, or money-market mutual fund account.

(2) The department shall develop procedures to enter into agreements with financial institutions doing business in the state, in coordination with such financial institutions and with the Federal Parent Locator Service in the case of financial institutions doing business in two or more states, to develop and operate a data match system, using automated data exchanges to the maximum extent feasible, in which each financial institution is required to provide for each calendar quarter the name, record address, social security number or other taxpayer identification number, average daily account balance, and other identifying information for:
(a) Each parent who maintains an account at such institution and who owes past due support, as identified by the department by name and social security number or other taxpayer identification number; or
(b) At the financial institution’s option, each individual who maintains an account at such institution. Use of this information shall be limited to the purpose of administration of the Title IV-D program for child support enforcement.

(3) The department shall pay a reasonable fee to a financial institution for conducting the data match provided for in subsection (2), not to exceed the actual costs incurred by such financial institution.
(4) A financial institution shall not be liable to any person nor shall it be required to provide notice to its customers:
(a) For disclosure of any information as required under this section;
(b) For encumbering or surrendering any assets held by such financial institution in response to a notice of lien or levy issued by the department;
(c) For disclosing any information in connection with a data match; or
(d) For any other action taken in good faith to comply with the requirements of this section.

(5) Any financial records obtained pursuant to this section may be disclosed only for the purpose of, and to the extent necessary in, establishing, modifying, or enforcing a support obligation of such individual.
(6) The Department of Revenue may adopt rules for establishing the procedures for automated data matches with financial institutions.
History.—s. 52, ch. 97-170; s. 16, ch. 99-375; s. 36, ch. 2001-158; s. 23, ch. 2008-61.

Structure Florida Statutes