Notification of apparent owners of abandoned property.

(1) It is specifically recognized that the state has an obligation to make an effort to notify apparent owners in a cost-effective manner that their abandoned property has been reported and remitted to the department. In order to provide all the citizens of this state an effective and efficient program for the recovery of abandoned personal property, the department shall use cost-effective means to make at least one active attempt to notify apparent owners of abandoned property valued at $50 or more, abandoned tangible property, and abandoned shares of stock for which a reported address or taxpayer identification number is available. Such active attempt to notify apparent owners shall include any attempt by the department to directly contact the apparent owner. Other means of notification, such as publication of the names of apparent owners in the newspaper, on television, on the Internet, or through other promotional efforts and items in which the department does not directly attempt to contact the apparent owner are expressly declared to be passive attempts. This subsection does not preclude other agencies or entities of state government from notifying owners of the existence of abandoned property or attempting to notify apparent owners of abandoned property.

(2) Notification provided directly to individual apparent owners shall contain a description of the abandoned property and information regarding recovery of the property from the department. The form and content of the department’s notice must be tailored to the type of property reported and must include any information necessary to reasonably inform the apparent owner of the consequences of failure to claim the property, including potential sale or disposition under s. 717.122.

(3) The department shall maintain a publicly accessible, electronically searchable website that includes the names of apparent owners of abandoned property reported to the department and instructions for filing a claim. The website must list property valued at $10 or more and provide instructions for filing a claim. Abandoned property valued at less than $10 remains recoverable from the department in accordance with this chapter.

(4) This section is not applicable to abandoned sums payable on traveler’s checks, money orders, and other written instruments under s. 717.104, or any other abandoned property reported without the necessary identifying information to establish ownership.