The department may decline to receive any property reported under this chapter that the department considers to have a value less than the expense of giving notice and of sale. If the department elects not to receive custody of the property, the holder shall be notified within 120 days after filing the report required under s. 717.117 or remitting the property required under s. 717.119.
Fla. Stat. § 717.127
Election to take payment or delivery
Known as the Florida Disposition of Unclaimed Property Act
The act spans §§ 717–717 (66 sections).
History.--s. 28, ch. 87-105; s. 18, ch. 96-301.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.