Florida § 717.104 - Traveler’s checks and money orders.

§ 717.104. Traveler’s checks and money orders.

(1) Subject to subsection (4), any sum payable on a traveler’s check that has been outstanding for more than 15 years after its issuance is presumed abandoned unless the apparent owner or authorized representative, within 15 years, has demonstrated a continued interest in the property in accordance with s. 717.102. (2) Subject to subsection (4), any sum payable on a money order or similar written instrument, other than a third party bank check, that has been outstanding for more than 7 years after its issuance is presumed abandoned unless the apparent owner or authorized representative, within 7 years, has demonstrated a continued interest in the property in accordance with s. 717.102. (3) A holder may not deduct from the amount of any traveler’s check or money order any charges imposed by reason of the failure to present those instruments for payment unless there is a valid and enforceable written contract between the holder and the apparent owner of the property pursuant to which the holder may impose those charges and the holder regularly imposes those charges and does not regularly reverse or otherwise cancel those charges with respect to the property. (4) No sum payable on a traveler’s check, money order, or similar written instrument, other than a third party bank check, described in subsections (1) and (2) may be subjected to the custody of this state as abandoned property unless any of the following conditions are met: (a) The records of the holder show that the traveler’s check, money order, or similar written instrument was purchased in this state. (b) The holder has its principal place of business in this state and its records do not show the state in which the traveler’s check, money order, or similar written instrument was purchased. (c) The holder has its principal place of business in this state; the holder’s records show the state in which the traveler’s check, money order, or similar written instrument was purchased; and the state of purchase does not provide applicable escheat, abandoned, or unclaimed property laws. (5) Notwithstanding any other provision of this chapter, subsection (4) applies to sums payable on traveler’s checks, money orders, and similar written instruments presumed abandoned on or after February 1, 1965, except to the extent that those sums have been paid over to a state prior to January 1, 1974.