(1) The consideration paid for an unredeemed gift certificate or credit memo is the property of the issuer of the unredeemed gift certificate or credit memo.
(2) An unredeemed gift certificate or credit memo is subject only to any rights of a purchaser or owner thereof and is not subject to a claim made by any state acting on behalf of a purchaser or owner.
(3) It is the intent of the Legislature that this section apply to the custodial holding of unredeemed gift certificates and credit memos.
(4) However, a gift certificate or credit memo described in s. 501.95(2)(b) shall be reported as unclaimed property. The consideration paid for such a gift certificate or credit memo is the property of the owner of the gift certificate or credit memo.
History.—s. 2, ch. 2007-256.
Structure Florida Statutes
Title XL - Real and Personal Property
Chapter 717 - Disposition of Unclaimed Property
717.102 - Property Presumed Unclaimed; General Rule.
717.103 - General Rules for Taking Custody of Intangible Unclaimed Property.
717.104 - Traveler’s Checks and Money Orders.
717.1045 - Gift Certificates and Similar Credit Items.
717.106 - Bank Deposits and Funds in Financial Organizations.
717.108 - Deposits Held by Utilities.
717.109 - Refunds Held by Business Associations.
717.1101 - Unclaimed Equity and Debt of Business Associations.
717.111 - Property of Business Associations Held in Course of Dissolution.
717.112 - Property Held by Agents and Fiduciaries.
717.1125 - Property Held by Fiduciaries Under Trust Instruments.
717.113 - Property Held by Courts and Public Agencies.
717.116 - Contents of Safe-Deposit Box or Other Safekeeping Repository.
717.117 - Report of Unclaimed Property.
717.118 - Notification of Apparent Owners of Unclaimed Property.
717.119 - Payment or Delivery of Unclaimed Property.
717.121 - Crediting of Dividends, Interest, or Increments to Owner’s Account.
717.122 - Public Sale of Unclaimed Property.
717.1235 - Dormant Campaign Accounts; Report of Unclaimed Property.
717.124 - Unclaimed Property Claims.
717.12404 - Claims on Behalf of a Business Entity or Trust.
717.12405 - Claims by Estates.
717.12406 - Joint Ownership of Unclaimed Securities or Dividends.
717.1241 - Conflicting Claims.
717.1242 - Restatement of Jurisdiction of the Circuit Court Sitting in Probate and the Department.
717.1243 - Small Estate Accounts.
717.1244 - Determinations of Unclaimed Property Claims.
717.1245 - Garnishment of Unclaimed Property.
717.125 - Claim of Another State to Recover Property; Procedure.
717.126 - Administrative Hearing; Burden of Proof; Proof of Entitlement; Venue.
717.1261 - Death Certificates.
717.127 - Election to Take Payment or Delivery.
717.129 - Periods of Limitation.
717.1301 - Investigations; Examinations; Subpoenas.
717.1311 - Retention of Records.
717.1315 - Retention of Records by Claimant’s Representatives and Buyers of Unclaimed Property.
717.132 - Enforcement; Cease and Desist Orders; Fines.
717.1322 - Administrative and Civil Enforcement.
717.1323 - Prohibited Practice.
717.133 - Interstate Agreements and Cooperation; Joint and Reciprocal Actions With Other States.
717.1331 - Actions Against Holders.
717.134 - Penalties and Interest.
717.1341 - Invalid Claims, Recovery of Property, Interest and Penalties.
717.1355 - Theme Park and Entertainment Complex Tickets.
717.136 - Foreign Transactions.
717.138 - Rulemaking Authority.
717.1382 - United States Savings Bond; Unclaimed Property; Escheatment; Procedure.
717.1383 - United States Savings Bond; Claim for Bond.