The Florida Senate

¹497.415  Ownership of proceeds received on contracts.--

(1)  Subject to the provisions of this chapter, all funds paid pursuant to a preneed contract by a purchaser to a certificateholder shall be the sole property of, and within the full dominion and control of, said certificateholder.

(2)  Subject to the provisions of this chapter, the relationship between the purchaser of a preneed contract and a certificateholder shall be deemed for all purposes as a debtor-creditor relationship.

History.--ss. 8, 17, ch. 88-139; ss. 97, 122, ch. 93-399; s. 106, ch. 2004-301.

¹Note.--Section 106, ch. 2004-301, renumbered s. 497.415 as s. 497.457 and amended the section, effective October 1, 2005, to read:

497.457  Ownership of proceeds received on contracts.--

(1)  Subject to the provisions of this chapter, all funds paid pursuant to a preneed contract by a purchaser to a preneed licensee shall be the sole property of, and within the full dominion and control of, said preneed licensee.

(2)  Subject to the provisions of this chapter, the relationship between the purchaser of a preneed contract and a preneed licensee shall be deemed for all purposes as a debtor-creditor relationship.

Note.--Former s. 639.109.