Florida Senate - 2013                      CS for CS for SB 1666
       
       
       
       By the Committees on Judiciary; and Banking and Insurance; and
       Senator Latvala
       
       
       
       590-04354A-13                                         20131666c2
    1                        A bill to be entitled                      
    2         An act relating to mortgage foreclosures; amending s.
    3         25.073, F.S.; limiting the eligibility of retired
    4         judges to receive compensation and reimbursement under
    5         certain circumstances; amending s. 95.11, F.S.;
    6         revising the limitations period for commencing an
    7         action to enforce a claim of a deficiency judgment
    8         after a foreclosure action; providing for
    9         applicability to existing causes of action; providing
   10         that the amendments made by this act to s. 95.11,
   11         F.S., apply to any action commenced on or after July
   12         1, 2013; amending s. 121.021, F.S.; defining terms;
   13         providing for the applicability of the term
   14         “termination”; amending s. 121.091, F.S.; providing
   15         that between two specified dates, a retired justice or
   16         retired judge is not subject to certain limitations
   17         otherwise applicable to retired employees; amending s.
   18         121.591, F.S.; providing that, between two specified
   19         dates, a retired justice or retired judge who returns
   20         to temporary employment as a senior judge in any court
   21         may continue to receive a distribution of his or her
   22         retirement account after providing proof of
   23         termination from his or her regularly established
   24         position; creating s. 702.015, F.S.; providing
   25         legislative intent; specifying required contents of a
   26         complaint seeking to foreclose on certain types of
   27         residential properties with respect to the authority
   28         of the plaintiff to foreclose on the note and the
   29         location of the note; authorizing sanctions against
   30         plaintiffs who fail to comply with complaint
   31         requirements; providing for non-applicability to
   32         proceedings involving timeshare interests; creating s.
   33         702.036, F.S.; requiring a court to treat a collateral
   34         attack on a final judgment of foreclosure on a
   35         mortgage as a claim for monetary damages under certain
   36         circumstances; prohibiting such court from granting
   37         certain relief affecting title to the foreclosed
   38         property; providing for construction relating to the
   39         rights of certain persons to seek specified types of
   40         relief or pursue claims against the foreclosed
   41         property under certain circumstances; amending s.
   42         702.06, F.S.; limiting the amount of a deficiency
   43         judgment; amending s. 702.10, F.S.; revising the class
   44         of persons authorized to move for expedited
   45         foreclosure to include lienholders; defining the term
   46         “lienholder”; providing requirements and procedures
   47         with respect to an order directed to defendants to
   48         show cause why a final judgment of foreclosure should
   49         not be entered; providing that certain failures by a
   50         defendant to make certain filings or to make certain
   51         appearances may have specified legal consequences;
   52         requiring the court to enter a final judgment of
   53         foreclosure and order a foreclosure sale under certain
   54         circumstances; revising a restriction on a mortgagee
   55         to request a court to order a mortgagor defendant to
   56         make payments or to vacate the premises during an
   57         action to foreclose on residential real estate to
   58         provide that the restriction applies to all but owner
   59         occupied residential property; providing a presumption
   60         regarding owner-occupied residential property;
   61         creating s. 702.11, F.S.; providing requirements for
   62         reasonable means of providing adequate protection
   63         under s. 673.3091, F.S., in mortgage foreclosures of
   64         certain residential properties; providing for
   65         liability of persons who wrongly claim to be holders
   66         of or entitled to enforce a lost, stolen, or destroyed
   67         note and cause the mortgage secured thereby to be
   68         foreclosed in certain circumstances; providing for
   69         construction and applicability; declaring that the act
   70         is remedial in nature and applies to all mortgages
   71         encumbering real property and all promissory notes
   72         secured by a mortgage, whether executed before, on, or
   73         after the effective date of this act; requiring that
   74         employer contribution rates be adjusted; providing a
   75         directive to the Division of Law Revision and
   76         Information; providing legislature findings;
   77         requesting the Florida Supreme Court to adopt rules
   78         and forms to expedite foreclosure proceedings;
   79         providing that certain specified provisions of the act
   80         take effect only if the Legislature appropriates a
   81         certain amount on a recurring basis to the judicial
   82         system and if the Governor does not veto the
   83         appropriation; providing that certain sections of the
   84         act stand repealed on a stated date; providing an
   85         effective date.
   86  
   87  Be It Enacted by the Legislature of the State of Florida:
   88  
   89         Section 1. Section 25.073, Florida Statutes, is amended to
   90  read:
   91         25.073 Retired justices or judges assigned to temporary
   92  duty; additional compensation; appropriation.—
   93         (1) For purposes of this section, the term “retired
   94  justice” or “retired judge” means any former justice or judge
   95  who:
   96         (a) Has not been defeated in seeking reelection to, or has
   97  not failed to be retained in seeking retention in, his or her
   98  last judicial office or was not defeated when last seeking
   99  election to judicial office; and
  100         (b) Is not engaged in the practice of law.
  101         (2) Any retired justice of the Supreme Court or retired
  102  judge of a district court of appeal or circuit or county court
  103  assigned to temporary duty in any of such courts, pursuant to
  104  Art. V of the State Constitution, shall be compensated as
  105  follows:
  106         (a) Any such justice or judge shall be paid not less than
  107  $200 for each day or portion of a day that such justice or judge
  108  is assigned to temporary duty; however, no such justice or judge
  109  may serve for more than 60 days in any year without the approval
  110  of the Chief Justice.
  111         (b) Necessary travel expense incident to the performance of
  112  duties required by assignment of such justice or judge to
  113  temporary duty shall be paid by the state in accordance with the
  114  provisions of s. 112.061.
  115         (3)(a) A payment to a retired circuit court or county court
  116  judge may be made only to a retired judge who:
  117         1. Serves in the same circuit court or county court in
  118  which he or she last served in a permanent capacity; or
  119         2. In a circuit court or county court in which the retired
  120  judge previously served as a retired judge before July 1, 2013.
  121         (b) Notwithstanding paragraph (a), a payment may be made to
  122  a retired judge who did not previously serve in the particular
  123  circuit court or county court, if the chief judge of the circuit
  124  court certifies in writing to the Chief Justice of the Supreme
  125  Court that the chief judge, after a reasonable search, was
  126  unable to identify a qualified retired judge who previously
  127  served in the circuit or county court who is available for the
  128  temporary duty.
  129         (4)(3) Payments required under this section shall be made
  130  from moneys to be appropriated for this purpose.
  131         Section 2. Paragraph (b) of subsection (2) of section
  132  95.11, Florida Statutes, is amended, and paragraph (h) is added
  133  to subsection (5) of that section, to read:
  134         95.11 Limitations other than for the recovery of real
  135  property.—Actions other than for recovery of real property shall
  136  be commenced as follows:
  137         (2) WITHIN FIVE YEARS.—
  138         (b) A legal or equitable action on a contract, obligation,
  139  or liability founded on a written instrument, except for an
  140  action to enforce a claim against a payment bond, which shall be
  141  governed by the applicable provisions of paragraph (5)(e), s.
  142  255.05(10), s. 337.18(1), or s. 713.23(1)(e), and except for an
  143  action for a deficiency judgment governed by paragraph (5)(h).
  144         (5) WITHIN ONE YEAR.—
  145         (h) An action to enforce a claim of a deficiency related to
  146  a note secured by a mortgage against a residential property that
  147  is a one-family to four-family dwelling unit. The limitations
  148  period shall commence on the day after the certificate of title
  149  is issued by the clerk of court or the day after the mortgagee
  150  accepts a deed in lieu of foreclosure.
  151         Section 3. The amendments made by this act to s. 95.11,
  152  Florida Statutes, apply to any action commenced on or after July
  153  1, 2013, regardless of when the cause of action accrued.
  154  However, any action that would not have been barred under s.
  155  95.11(2)(b), Florida Statutes, before the effective date of this
  156  act must be commenced within 5 years after the action accrued or
  157  by July 1, 2014, whichever occurs first.
  158         Section 4. Subsection (39) of section 121.021, Florida
  159  Statutes, is amended to read:
  160         121.021 Definitions.—The following words and phrases as
  161  used in this chapter have the respective meanings set forth
  162  unless a different meaning is plainly required by the context:
  163         (39)(a) “Termination” occurs, except as provided in
  164  paragraph (b), when a member ceases all employment relationships
  165  with participating employers, however:
  166         1. For retirements effective before July 1, 2010, if a
  167  member is employed by any such employer within the next calendar
  168  month, termination shall be deemed not to have occurred. A leave
  169  of absence constitutes a continuation of the employment
  170  relationship, except that a leave of absence without pay due to
  171  disability may constitute termination if such member makes
  172  application for and is approved for disability retirement in
  173  accordance with s. 121.091(4). The department or state board may
  174  require other evidence of termination as it deems necessary.
  175         2. For retirements effective on or after July 1, 2010, if a
  176  member is employed by any such employer within the next 6
  177  calendar months, termination shall be deemed not to have
  178  occurred. A leave of absence constitutes a continuation of the
  179  employment relationship, except that a leave of absence without
  180  pay due to disability may constitute termination if such member
  181  makes application for and is approved for disability retirement
  182  in accordance with s. 121.091(4). The department or state board
  183  may require other evidence of termination as it deems necessary.
  184         (b) “Termination” for a member electing to participate in
  185  the Deferred Retirement Option Program occurs when the program
  186  participant ceases all employment relationships with
  187  participating employers in accordance with s. 121.091(13),
  188  however:
  189         1. For termination dates occurring before July 1, 2010, if
  190  the member is employed by any such employer within the next
  191  calendar month, termination will be deemed not to have occurred,
  192  except as provided in s. 121.091(13)(b)4.c. A leave of absence
  193  shall constitute a continuation of the employment relationship.
  194         2. For termination dates occurring on or after July 1,
  195  2010, if the member becomes employed by any such employer within
  196  the next 6 calendar months, termination will be deemed not to
  197  have occurred, except as provided in s. 121.091(13)(b)4.c. A
  198  leave of absence constitutes a continuation of the employment
  199  relationship.
  200         (c) Effective July 1, 2011, “termination” for a member
  201  receiving a refund of employee contributions occurs when a
  202  member ceases all employment relationships with participating
  203  employers for 3 calendar months. A leave of absence constitutes
  204  a continuation of the employment relationship.
  205         (d) Effective July 1, 2013, through June 30, 2016,
  206  “termination” for a retired justice or judge who reached the
  207  later of his or her normal retirement age or age when vested at
  208  retirement and subsequently returns to temporary employment as a
  209  judge in any court, as assigned by the Chief Justice of the
  210  Supreme Court in accordance with s. 2, Art. V of the State
  211  Constitution, occurs when the justice or judge has terminated
  212  all employment relationships with employers under the Florida
  213  Retirement System for at least 1 calendar month prior to
  214  reemployment as a senior judge.
  215         Section 5. Subsection (9) of section 121.091, Florida
  216  Statutes, is amended to read:
  217         121.091 Benefits payable under the system.—Benefits may not
  218  be paid under this section unless the member has terminated
  219  employment as provided in s. 121.021(39)(a) or begun
  220  participation in the Deferred Retirement Option Program as
  221  provided in subsection (13), and a proper application has been
  222  filed in the manner prescribed by the department. The department
  223  may cancel an application for retirement benefits when the
  224  member or beneficiary fails to timely provide the information
  225  and documents required by this chapter and the department’s
  226  rules. The department shall adopt rules establishing procedures
  227  for application for retirement benefits and for the cancellation
  228  of such application when the required information or documents
  229  are not received.
  230         (9) EMPLOYMENT AFTER RETIREMENT; LIMITATION.—
  231         (a) Any person who is retired under this chapter, except
  232  under the disability retirement provisions of subsection (4),
  233  may be employed by an employer that does not participate in a
  234  state-administered retirement system and receive compensation
  235  from that employment without limiting or restricting in any way
  236  the retirement benefits payable to that person.
  237         (b) Any person whose retirement is effective before July 1,
  238  2010, or whose participation in the Deferred Retirement Option
  239  Program terminates before July 1, 2010, except under the
  240  disability retirement provisions of subsection (4) or as
  241  provided in s. 121.053, may be reemployed by an employer that
  242  participates in a state-administered retirement system and
  243  receive retirement benefits and compensation from that employer,
  244  except that the person may not be reemployed by an employer
  245  participating in the Florida Retirement System before meeting
  246  the definition of termination in s. 121.021 and may not receive
  247  both a salary from the employer and retirement benefits for 12
  248  calendar months immediately subsequent to the date of
  249  retirement. However, a DROP participant shall continue
  250  employment and receive a salary during the period of
  251  participation in the Deferred Retirement Option Program, as
  252  provided in subsection (13).
  253         1. A retiree who violates such reemployment limitation
  254  before completion of the 12-month limitation period must give
  255  timely notice of this fact in writing to the employer and to the
  256  Division of Retirement or the state board and shall have his or
  257  her retirement benefits suspended for the months employed or the
  258  balance of the 12-month limitation period as required in sub
  259  subparagraphs b. and c. A retiree employed in violation of this
  260  paragraph and an employer who employs or appoints such person
  261  are jointly and severally liable for reimbursement to the
  262  retirement trust fund, including the Florida Retirement System
  263  Trust Fund and the Public Employee Optional Retirement Program
  264  Trust Fund, from which the benefits were paid. The employer must
  265  have a written statement from the retiree that he or she is not
  266  retired from a state-administered retirement system. Retirement
  267  benefits shall remain suspended until repayment has been made.
  268  Benefits suspended beyond the reemployment limitation shall
  269  apply toward repayment of benefits received in violation of the
  270  reemployment limitation.
  271         a. A district school board may reemploy a retiree as a
  272  substitute or hourly teacher, education paraprofessional,
  273  transportation assistant, bus driver, or food service worker on
  274  a noncontractual basis after he or she has been retired for 1
  275  calendar month. A district school board may reemploy a retiree
  276  as instructional personnel, as defined in s. 1012.01(2)(a), on
  277  an annual contractual basis after he or she has been retired for
  278  1 calendar month. Any member who is reemployed within 1 calendar
  279  month after retirement shall void his or her application for
  280  retirement benefits. District school boards reemploying such
  281  teachers, education paraprofessionals, transportation
  282  assistants, bus drivers, or food service workers are subject to
  283  the retirement contribution required by subparagraph 2.
  284         b. A community college board of trustees may reemploy a
  285  retiree as an adjunct instructor or as a participant in a phased
  286  retirement program within the Florida Community College System,
  287  after he or she has been retired for 1 calendar month. A member
  288  who is reemployed within 1 calendar month after retirement shall
  289  void his or her application for retirement benefits. Boards of
  290  trustees reemploying such instructors are subject to the
  291  retirement contribution required in subparagraph 2. A retiree
  292  may be reemployed as an adjunct instructor for no more than 780
  293  hours during the first 12 months of retirement. A retiree
  294  reemployed for more than 780 hours during the first 12 months of
  295  retirement must give timely notice in writing to the employer
  296  and to the Division of Retirement or the state board of the date
  297  he or she will exceed the limitation. The division shall suspend
  298  his or her retirement benefits for the remainder of the 12
  299  months of retirement. Any retiree employed in violation of this
  300  sub-subparagraph and any employer who employs or appoints such
  301  person without notifying the division to suspend retirement
  302  benefits are jointly and severally liable for any benefits paid
  303  during the reemployment limitation period. The employer must
  304  have a written statement from the retiree that he or she is not
  305  retired from a state-administered retirement system. Any
  306  retirement benefits received by the retiree while reemployed in
  307  excess of 780 hours during the first 12 months of retirement
  308  must be repaid to the Florida Retirement System Trust Fund, and
  309  retirement benefits shall remain suspended until repayment is
  310  made. Benefits suspended beyond the end of the retiree’s first
  311  12 months of retirement shall apply toward repayment of benefits
  312  received in violation of the 780-hour reemployment limitation.
  313         c. The State University System may reemploy a retiree as an
  314  adjunct faculty member or as a participant in a phased
  315  retirement program within the State University System after the
  316  retiree has been retired for 1 calendar month. A member who is
  317  reemployed within 1 calendar month after retirement shall void
  318  his or her application for retirement benefits. The State
  319  University System is subject to the retired contribution
  320  required in subparagraph 2., as appropriate. A retiree may be
  321  reemployed as an adjunct faculty member or a participant in a
  322  phased retirement program for no more than 780 hours during the
  323  first 12 months of his or her retirement. A retiree reemployed
  324  for more than 780 hours during the first 12 months of retirement
  325  must give timely notice in writing to the employer and to the
  326  Division of Retirement or the state board of the date he or she
  327  will exceed the limitation. The division shall suspend his or
  328  her retirement benefits for the remainder of the 12 months. Any
  329  retiree employed in violation of this sub-subparagraph and any
  330  employer who employs or appoints such person without notifying
  331  the division to suspend retirement benefits are jointly and
  332  severally liable for any benefits paid during the reemployment
  333  limitation period. The employer must have a written statement
  334  from the retiree that he or she is not retired from a state
  335  administered retirement system. Any retirement benefits received
  336  by the retiree while reemployed in excess of 780 hours during
  337  the first 12 months of retirement must be repaid to the Florida
  338  Retirement System Trust Fund, and retirement benefits shall
  339  remain suspended until repayment is made. Benefits suspended
  340  beyond the end of the retiree’s first 12 months of retirement
  341  shall apply toward repayment of benefits received in violation
  342  of the 780-hour reemployment limitation.
  343         d. The Board of Trustees of the Florida School for the Deaf
  344  and the Blind may reemploy a retiree as a substitute teacher,
  345  substitute residential instructor, or substitute nurse on a
  346  noncontractual basis after he or she has been retired for 1
  347  calendar month. Any member who is reemployed within 1 calendar
  348  month after retirement shall void his or her application for
  349  retirement benefits. The Board of Trustees of the Florida School
  350  for the Deaf and the Blind reemploying such teachers,
  351  residential instructors, or nurses is subject to the retirement
  352  contribution required by subparagraph 2.
  353         e. A developmental research school may reemploy a retiree
  354  as a substitute or hourly teacher or an education
  355  paraprofessional as defined in s. 1012.01(2) on a noncontractual
  356  basis after he or she has been retired for 1 calendar month. A
  357  developmental research school may reemploy a retiree as
  358  instructional personnel, as defined in s. 1012.01(2)(a), on an
  359  annual contractual basis after he or she has been retired for 1
  360  calendar month after retirement. Any member who is reemployed
  361  within 1 calendar month voids his or her application for
  362  retirement benefits. A developmental research school that
  363  reemploys retired teachers and education paraprofessionals is
  364  subject to the retirement contribution required by subparagraph
  365  2.
  366         f. A charter school may reemploy a retiree as a substitute
  367  or hourly teacher on a noncontractual basis after he or she has
  368  been retired for 1 calendar month. A charter school may reemploy
  369  a retired member as instructional personnel, as defined in s.
  370  1012.01(2)(a), on an annual contractual basis after he or she
  371  has been retired for 1 calendar month after retirement. Any
  372  member who is reemployed within 1 calendar month voids his or
  373  her application for retirement benefits. A charter school that
  374  reemploys such teachers is subject to the retirement
  375  contribution required by subparagraph 2.
  376         2. The employment of a retiree or DROP participant of a
  377  state-administered retirement system does not affect the average
  378  final compensation or years of creditable service of the retiree
  379  or DROP participant. Before July 1, 1991, upon employment of any
  380  person, other than an elected officer as provided in s. 121.053,
  381  who is retired under a state-administered retirement program,
  382  the employer shall pay retirement contributions in an amount
  383  equal to the unfunded actuarial liability portion of the
  384  employer contribution which would be required for regular
  385  members of the Florida Retirement System. Effective July 1,
  386  1991, contributions shall be made as provided in s. 121.122 for
  387  retirees who have renewed membership or, as provided in
  388  subsection (13), for DROP participants.
  389         3. Any person who is holding an elective public office
  390  which is covered by the Florida Retirement System and who is
  391  concurrently employed in nonelected covered employment may elect
  392  to retire while continuing employment in the elective public
  393  office if he or she terminates his or her nonelected covered
  394  employment. Such person shall receive his or her retirement
  395  benefits in addition to the compensation of the elective office
  396  without regard to the time limitations otherwise provided in
  397  this subsection. A person who seeks to exercise the provisions
  398  of this subparagraph as they existed before May 3, 1984, may not
  399  be deemed to be retired under those provisions, unless such
  400  person is eligible to retire under this subparagraph, as amended
  401  by chapter 84-11, Laws of Florida.
  402         (c) Any person whose retirement is effective on or after
  403  July 1, 2010, or whose participation in the Deferred Retirement
  404  Option Program terminates on or after July 1, 2010, who is
  405  retired under this chapter, except under the disability
  406  retirement provisions of subsection (4) or as provided in s.
  407  121.053, may be reemployed by an employer that participates in a
  408  state-administered retirement system and receive retirement
  409  benefits and compensation from that employer. However, a person
  410  may not be reemployed by an employer participating in the
  411  Florida Retirement System before meeting the definition of
  412  termination in s. 121.021 and may not receive both a salary from
  413  the employer and retirement benefits for 6 calendar months after
  414  meeting the definition of termination, except as provided in
  415  paragraph (f). However, a DROP participant shall continue
  416  employment and receive a salary during the period of
  417  participation in the Deferred Retirement Option Program, as
  418  provided in subsection (13).
  419         1. The reemployed retiree may not renew membership in the
  420  Florida Retirement System.
  421         2. The employer shall pay retirement contributions in an
  422  amount equal to the unfunded actuarial liability portion of the
  423  employer contribution that would be required for active members
  424  of the Florida Retirement System in addition to the
  425  contributions required by s. 121.76.
  426         3. A retiree initially reemployed in violation of this
  427  paragraph and an employer that employs or appoints such person
  428  are jointly and severally liable for reimbursement of any
  429  retirement benefits paid to the retirement trust fund from which
  430  the benefits were paid, including the Florida Retirement System
  431  Trust Fund and the Public Employee Optional Retirement Program
  432  Trust Fund, as appropriate. The employer must have a written
  433  statement from the employee that he or she is not retired from a
  434  state-administered retirement system. Retirement benefits shall
  435  remain suspended until repayment is made. Benefits suspended
  436  beyond the end of the retiree’s 6-month reemployment limitation
  437  period shall apply toward the repayment of benefits received in
  438  violation of this paragraph.
  439         (d) Except as provided in paragraph (f), this subsection
  440  applies to retirees, as defined in s. 121.4501(2), of the
  441  Florida Retirement System Investment Plan, subject to the
  442  following conditions:
  443         1. A retiree may not be reemployed with an employer
  444  participating in the Florida Retirement System until such person
  445  has been retired for 6 calendar months.
  446         2. A retiree employed in violation of this subsection and
  447  an employer that employs or appoints such person are jointly and
  448  severally liable for reimbursement of any benefits paid to the
  449  retirement trust fund from which the benefits were paid. The
  450  employer must have a written statement from the retiree that he
  451  or she is not retired from a state-administered retirement
  452  system.
  453         (e) The limitations of this subsection apply to
  454  reemployment in any capacity irrespective of the category of
  455  funds from which the person is compensated except as provided in
  456  paragraph (f).
  457         (f) Effective July 1, 2013, through June 30, 2016, a
  458  retired justice or retired judge who has reached the later of
  459  his or her normal retirement age or the age when vested, who has
  460  terminated all employment with employers participating under the
  461  Florida Retirement System for at least 1 calendar month, and who
  462  subsequently returns to temporary employment as a senior judge
  463  in any court, as assigned by the Chief Justice of the Supreme
  464  Court in accordance with s. 2, Art. V of the State Constitution,
  465  is not subject to paragraph (c), paragraph (d), or paragraph (e)
  466  while reemployed as a senior judge.
  467         Section 6. Paragraph (a) of subsection (1) of section
  468  121.591, Florida Statutes, is amended to read:
  469         121.591 Payment of benefits.—Benefits may not be paid under
  470  the Florida Retirement System Investment Plan unless the member
  471  has terminated employment as provided in s. 121.021(39)(a) or is
  472  deceased and a proper application has been filed as prescribed
  473  by the state board or the department. Benefits, including
  474  employee contributions, are not payable under the investment
  475  plan for employee hardships, unforeseeable emergencies, loans,
  476  medical expenses, educational expenses, purchase of a principal
  477  residence, payments necessary to prevent eviction or foreclosure
  478  on an employee’s principal residence, or any other reason except
  479  a requested distribution for retirement, a mandatory de minimis
  480  distribution authorized by the administrator, or a required
  481  minimum distribution provided pursuant to the Internal Revenue
  482  Code. The state board or department, as appropriate, may cancel
  483  an application for retirement benefits if the member or
  484  beneficiary fails to timely provide the information and
  485  documents required by this chapter and the rules of the state
  486  board and department. In accordance with their respective
  487  responsibilities, the state board and the department shall adopt
  488  rules establishing procedures for application for retirement
  489  benefits and for the cancellation of such application if the
  490  required information or documents are not received. The state
  491  board and the department, as appropriate, are authorized to cash
  492  out a de minimis account of a member who has been terminated
  493  from Florida Retirement System covered employment for a minimum
  494  of 6 calendar months. A de minimis account is an account
  495  containing employer and employee contributions and accumulated
  496  earnings of not more than $5,000 made under the provisions of
  497  this chapter. Such cash-out must be a complete lump-sum
  498  liquidation of the account balance, subject to the provisions of
  499  the Internal Revenue Code, or a lump-sum direct rollover
  500  distribution paid directly to the custodian of an eligible
  501  retirement plan, as defined by the Internal Revenue Code, on
  502  behalf of the member. Any nonvested accumulations and associated
  503  service credit, including amounts transferred to the suspense
  504  account of the Florida Retirement System Investment Plan Trust
  505  Fund authorized under s. 121.4501(6), shall be forfeited upon
  506  payment of any vested benefit to a member or beneficiary, except
  507  for de minimis distributions or minimum required distributions
  508  as provided under this section. If any financial instrument
  509  issued for the payment of retirement benefits under this section
  510  is not presented for payment within 180 days after the last day
  511  of the month in which it was originally issued, the third-party
  512  administrator or other duly authorized agent of the state board
  513  shall cancel the instrument and credit the amount of the
  514  instrument to the suspense account of the Florida Retirement
  515  System Investment Plan Trust Fund authorized under s.
  516  121.4501(6). Any amounts transferred to the suspense account are
  517  payable upon a proper application, not to include earnings
  518  thereon, as provided in this section, within 10 years after the
  519  last day of the month in which the instrument was originally
  520  issued, after which time such amounts and any earnings
  521  attributable to employer contributions shall be forfeited. Any
  522  forfeited amounts are assets of the trust fund and are not
  523  subject to chapter 717.
  524         (1) NORMAL BENEFITS.—Under the investment plan:
  525         (a) Benefits in the form of vested accumulations as
  526  described in s. 121.4501(6) are payable under this subsection in
  527  accordance with the following terms and conditions:
  528         1. Benefits are payable only to a member, an alternate
  529  payee of a qualified domestic relations order, or a beneficiary.
  530         2. Benefits shall be paid by the third-party administrator
  531  or designated approved providers in accordance with the law, the
  532  contracts, and any applicable board rule or policy.
  533         3. The member must be terminated from all employment with
  534  all Florida Retirement System employers, as provided in s.
  535  121.021(39).
  536         4. Benefit payments may not be made until the member has
  537  been terminated for 3 calendar months, except that the state
  538  board may authorize by rule for the distribution of up to 10
  539  percent of the member’s account after being terminated for 1
  540  calendar month if the member has reached the normal retirement
  541  date as defined in s. 121.021. Effective July 1, 2013, through
  542  June 30, 2016, a retired justice or retired judge who returns to
  543  temporary employment as a senior judge in any court pursuant to
  544  s. 2, Art. V of the State Constitution and meets the definition
  545  of termination in s. 121.021(39)(d) may continue to receive a
  546  distribution of his or her account as provided under this
  547  paragraph after providing proof of assignment as a senior judge.
  548         5. If a member or former member of the Florida Retirement
  549  System receives an invalid distribution, such person must either
  550  repay the full amount within 90 days after receipt of final
  551  notification by the state board or the third-party administrator
  552  that the distribution was invalid, or, in lieu of repayment, the
  553  member must terminate employment from all participating
  554  employers. If such person fails to repay the full invalid
  555  distribution within 90 days after receipt of final notification,
  556  the person may be deemed retired from the investment plan by the
  557  state board and is subject to s. 121.122. If such person is
  558  deemed retired, any joint and several liability set out in s.
  559  121.091(9)(d)2. is void, and the state board, the department, or
  560  the employing agency is not liable for gains on payroll
  561  contributions that have not been deposited to the person’s
  562  account in the investment plan, pending resolution of the
  563  invalid distribution. The member or former member who has been
  564  deemed retired or who has been determined by the state board to
  565  have taken an invalid distribution may appeal the agency
  566  decision through the complaint process as provided under s.
  567  121.4501(9)(g)3. As used in this subparagraph, the term “invalid
  568  distribution” means any distribution from an account in the
  569  investment plan which is taken in violation of this section, s.
  570  121.091(9), or s. 121.4501.
  571         Section 7. Section 702.015, Florida Statutes, is created to
  572  read:
  573         702.015 Elements of complaint; lost, destroyed, or stolen
  574  note affidavit.—
  575         (1) The Legislature intends that this section expedite the
  576  foreclosure process by ensuring initial disclosure of a
  577  plaintiff’s status and the facts supporting that status, thereby
  578  ensuring the availability of documents necessary to the
  579  prosecution of the case.
  580         (2) A complaint that seeks to foreclose a mortgage or other
  581  lien on residential real property, including individual units of
  582  condominiums and cooperatives, designed principally for
  583  occupation by from one to four families which secures a
  584  promissory note must:
  585         (a) Contain affirmative allegations expressly made by the
  586  plaintiff at the time the proceeding is commenced that the
  587  plaintiff is the holder of the original note secured by the
  588  mortgage; or
  589         (b) Allege with specificity the factual basis by which the
  590  plaintiff is a person entitled to enforce the note under s.
  591  673.3011.
  592         (3) If a plaintiff has been delegated the authority to
  593  institute a mortgage foreclosure action on behalf of the person
  594  entitled to enforce the note, the complaint shall describe the
  595  authority of the plaintiff and identify, with specificity, the
  596  document that grants the plaintiff the authority to act on
  597  behalf of the person entitled to enforce the note. This
  598  subsection is intended to require initial disclosure of status
  599  and pertinent facts and not to modify law regarding standing or
  600  real parties in interest. The term “original note” or “original
  601  promissory note” means the signed or executed promissory note
  602  rather than a copy thereof. The term includes any renewal,
  603  replacement, consolidation, or amended and restated note or
  604  instrument given in renewal, replacement, or substitution for a
  605  previous promissory note. The term also includes a transferrable
  606  record, as defined by the Uniform Electronic Transaction Act in
  607  s. 668.50(16).
  608         (4) If the plaintiff is in possession of the original
  609  promissory note, the plaintiff must file under penalty of
  610  perjury a certification with the court, contemporaneously with
  611  the filing of the complaint for foreclosure, that the plaintiff
  612  is in possession of the original promissory note. The
  613  certification must set forth the location of the note, the name
  614  and title of the individual giving the certification, the name
  615  of the person who personally verified such possession, and the
  616  time and date on which the possession was verified. Correct
  617  copies of the note and all allonges to the note must be attached
  618  to the certification. The original note and the allonges must be
  619  filed with the court before the entry of any judgment of
  620  foreclosure or judgment on the note.
  621         (5) If the plaintiff seeks to enforce a lost, destroyed, or
  622  stolen instrument, an affidavit executed under penalty of
  623  perjury must be attached to the complaint. The affidavit must:
  624         (a) Detail a clear chain of all endorsements, transfers, or
  625  assignments of the promissory note that is the subject of the
  626  action.
  627         (b) Set forth facts showing that the plaintiff is entitled
  628  to enforce a lost, destroyed, or stolen instrument pursuant to
  629  s. 673.3091. Adequate protection as required under s.
  630  673.3091(2) shall be provided before the entry of final
  631  judgment.
  632         (c) Include as exhibits to the affidavit such copies of the
  633  note and the allonges to the note, audit reports showing receipt
  634  of the original note, or other evidence of the acquisition,
  635  ownership, and possession of the note as may be available to the
  636  plaintiff.
  637         (6) The court may sanction the plaintiff for failure to
  638  comply with this section.
  639         (7) This section does not apply to any foreclosure
  640  proceeding involving timeshare interests under part III of
  641  chapter 721.
  642         Section 8. Section 702.036, Florida Statutes, is created to
  643  read:
  644         702.036 Finality of mortgage foreclosure judgment.—
  645         (1)(a) In any action or proceeding in which a party seeks
  646  to set aside, invalidate, or challenge the validity of a final
  647  judgment of foreclosure of a mortgage or to establish or
  648  reestablish a lien or encumbrance on the property in abrogation
  649  of the final judgment of foreclosure of a mortgage, the court
  650  shall treat such request solely as a claim for monetary damages
  651  and may not grant relief that adversely affects the quality or
  652  character of the title to the property, if:
  653         1. The party seeking relief from the final judgment of
  654  foreclosure of the mortgage was properly served in the
  655  foreclosure lawsuit as provided in chapter 48 or chapter 49.
  656         2. The final judgment of foreclosure of the mortgage was
  657  entered as to the property.
  658         3. All applicable appeals periods have run as to the final
  659  judgment of foreclosure of the mortgage with no appeals having
  660  been taken or any appeals having been finally resolved.
  661         4. The property has been acquired for value, by a person
  662  not affiliated with the foreclosing lender or the foreclosed
  663  owner, at a time in which no lis pendens regarding the suit to
  664  set aside, invalidate, or challenge the foreclosure appears in
  665  the official records of the county where the property was
  666  located.
  667         (b) This subsection does not limit the right to pursue any
  668  other relief to which a person may be entitled, including, but
  669  not limited to, compensatory damages, punitive damages,
  670  statutory damages, consequential damages, injunctive relief, or
  671  fees and costs, which does not adversely affect the ownership of
  672  the title to the property as vested in the unaffiliated
  673  purchaser for value.
  674         (2) For purposes of this section, the following, without
  675  limitation, shall be considered persons affiliated with the
  676  foreclosing lender:
  677         (a) The foreclosing lender or any loan servicer for the
  678  loan being foreclosed;
  679         (b) Any past or present owner or holder of the loan being
  680  foreclosed;
  681         (c) Any maintenance company, holding company, foreclosure
  682  services company, or law firm under contract to any entity
  683  listed in paragraph (a), paragraph (b), or this paragraph, with
  684  regard to the loan being foreclosed; or
  685         (d) Any parent entity, subsidiary, or other person who
  686  directly, or indirectly through one or more intermediaries,
  687  controls or is controlled by, or is under common control with,
  688  any entity listed in paragraph (a), paragraph (b), or paragraph
  689  (c).
  690         (3) After foreclosure of a mortgage based upon the
  691  enforcement of a lost, destroyed, or stolen note, a person who
  692  is not a party to the underlying foreclosure action but who
  693  claims to be the person entitled to enforce the promissory note
  694  secured by the foreclosed mortgage has no claim against the
  695  foreclosed property after it is conveyed for valuable
  696  consideration to a person not affiliated with the foreclosing
  697  lender or the foreclosed owner. This section does not preclude
  698  the person entitled to enforce the promissory note from pursuing
  699  recovery from any adequate protection given pursuant to s.
  700  673.3091 or from the party who wrongfully claimed to be the
  701  person entitled to enforce the promissory note under s.
  702  702.11(2) or otherwise, from the maker of the note, or from any
  703  other person against whom it may have a claim relating to the
  704  note.
  705         Section 9. Section 702.06, Florida Statutes, is amended to
  706  read:
  707         702.06 Deficiency decree; common-law suit to recover
  708  deficiency.—In all suits for the foreclosure of mortgages
  709  heretofore or hereafter executed the entry of a deficiency
  710  decree for any portion of a deficiency, should one exist, shall
  711  be within the sound discretion of the court; however, in the
  712  case of an owner-occupied residential property, the amount of
  713  the deficiency may not exceed the difference between the
  714  judgment amount, or in the case of a short sale, the outstanding
  715  debt, and the fair market value of the property on the date of
  716  sale. For purposes of this section, there is a rebuttable
  717  presumption that a residential property for which a homestead
  718  exemption for taxation was granted according to the certified
  719  rolls of the latest assessment by the county property appraiser,
  720  before the filing of the foreclosure action, is an owner
  721  occupied residential property. shall be within the sound
  722  judicial discretion of the court, but The complainant shall also
  723  have the right to sue at common law to recover such deficiency,
  724  unless the court in the foreclosure action has granted or denied
  725  a claim for a deficiency judgment provided no suit at law to
  726  recover such deficiency shall be maintained against the original
  727  mortgagor in cases where the mortgage is for the purchase price
  728  of the property involved and where the original mortgagee
  729  becomes the purchaser thereof at foreclosure sale and also is
  730  granted a deficiency decree against the original mortgagor.
  731         Section 10. Section 702.10, Florida Statutes, is amended to
  732  read:
  733         702.10 Order to show cause; entry of final judgment of
  734  foreclosure; payment during foreclosure.—
  735         (1) A lienholder After a complaint in a foreclosure
  736  proceeding has been filed, the mortgagee may request an order to
  737  show cause for the entry of final judgment in a foreclosure
  738  action. For purposes of this section, the term “lienholder”
  739  includes the plaintiff and a defendant to the action who holds a
  740  lien encumbering the property or a defendant who, by virtue of
  741  its status as a condominium association, cooperative
  742  association, or homeowners’ association, may file a lien against
  743  the real property subject to foreclosure. Upon filing, and the
  744  court shall immediately review the request and the court file in
  745  chambers and without a hearing complaint. If, upon examination
  746  of the court file complaint, the court finds that the complaint
  747  is verified, complies with s. 702.015, and alleges a cause of
  748  action to foreclose on real property, the court shall promptly
  749  issue an order directed to the other parties named in the action
  750  defendant to show cause why a final judgment of foreclosure
  751  should not be entered.
  752         (a) The order shall:
  753         1. Set the date and time for a hearing on the order to show
  754  cause. However, The date for the hearing may not occur be set
  755  sooner than the later of 20 days after the service of the order
  756  to show cause or 45 days after service of the initial complaint.
  757  When service is obtained by publication, the date for the
  758  hearing may not be set sooner than 30 days after the first
  759  publication. The hearing must be held within 60 days after the
  760  date of service. Failure to hold the hearing within such time
  761  does not affect the validity of the order to show cause or the
  762  jurisdiction of the court to issue subsequent orders.
  763         2. Direct the time within which service of the order to
  764  show cause and the complaint must be made upon the defendant.
  765         3. State that the filing of defenses by a motion, a
  766  responsive pleading, an affidavit, or other papers or by a
  767  verified or sworn answer at or before the hearing to show cause
  768  that raise a genuine issue of material fact which would preclude
  769  the entry of summary judgment or otherwise constitute a legal
  770  defense to foreclosure shall constitute constitutes cause for
  771  the court not to enter the attached final judgment.
  772         4. State that a the defendant has the right to file
  773  affidavits or other papers before at the time of the hearing to
  774  show cause and may appear personally or by way of an attorney at
  775  the hearing.
  776         5. State that, if a the defendant files defenses by a
  777  motion, a verified or sworn answer, affidavits, or other papers
  778  or appears personally or by way of an attorney at the time of
  779  the hearing, the hearing time will may be used to hear and
  780  consider whether the defendant’s motion, answer, affidavits,
  781  other papers, and other evidence and argument as may be
  782  presented by the defendant or the defendant’s attorney raise a
  783  genuine issue of material fact which would preclude the entry of
  784  summary judgment or otherwise constitute a legal defense to
  785  foreclosure. The order shall also state that the court may enter
  786  an order of final judgment of foreclosure at the hearing and
  787  order the clerk of the court to conduct a foreclosure sale.
  788         6. State that, if a the defendant fails to appear at the
  789  hearing to show cause or fails to file defenses by a motion or
  790  by a verified or sworn answer or files an answer not contesting
  791  the foreclosure, such the defendant may be considered to have
  792  waived the right to a hearing, and in such case, the court may
  793  enter a default against such defendant and, if appropriate, a
  794  final judgment of foreclosure ordering the clerk of the court to
  795  conduct a foreclosure sale.
  796         7. State that if the mortgage provides for reasonable
  797  attorney attorney’s fees and the requested attorney attorney’s
  798  fees do not exceed 3 percent of the principal amount owed at the
  799  time of filing the complaint, it is unnecessary for the court to
  800  hold a hearing or adjudge the requested attorney attorney’s fees
  801  to be reasonable.
  802         8. Attach the form of the proposed final judgment of
  803  foreclosure which the movant requests the court to will enter,
  804  if the defendant waives the right to be heard at the hearing on
  805  the order to show cause.
  806         9. Require the party seeking final judgment mortgagee to
  807  serve a copy of the order to show cause on the other parties the
  808  mortgagor in the following manner:
  809         a. If a party the mortgagor has been served pursuant to
  810  chapter 48 with the complaint and original process, or the other
  811  party is the plaintiff in the action, service of the order to
  812  show cause on that party order may be made in the manner
  813  provided in the Florida Rules of Civil Procedure.
  814         b. If a defendant the mortgagor has not been served
  815  pursuant to chapter 48 with the complaint and original process,
  816  the order to show cause, together with the summons and a copy of
  817  the complaint, shall be served on the party mortgagor in the
  818  same manner as provided by law for original process.
  819  
  820  Any final judgment of foreclosure entered under this subsection
  821  is for in rem relief only. Nothing in This subsection does not
  822  shall preclude the entry of a deficiency judgment where
  823  otherwise allowed by law. The Legislature intends that this
  824  alternative procedure may run simultaneously with other court
  825  procedures.
  826         (b) The right to be heard at the hearing to show cause is
  827  waived if a the defendant, after being served as provided by law
  828  with an order to show cause, engages in conduct that clearly
  829  shows that the defendant has relinquished the right to be heard
  830  on that order. The defendant’s failure to file defenses by a
  831  motion or by a sworn or verified answer, affidavits, or other
  832  papers or to appear personally or by way of an attorney at the
  833  hearing duly scheduled on the order to show cause presumptively
  834  constitutes conduct that clearly shows that the defendant has
  835  relinquished the right to be heard. If a defendant files
  836  defenses by a motion, or by a verified or sworn answer,
  837  affidavits, or other papers or presents evidence at or before
  838  the hearing which raise a genuine issue of material fact which
  839  would preclude entry of summary judgment or otherwise constitute
  840  a legal defense to foreclosure, such action constitutes cause
  841  and precludes the entry of a final judgment at the hearing to
  842  show cause.
  843         (c) In a mortgage foreclosure proceeding, when a final
  844  default judgment of foreclosure has been entered against the
  845  mortgagor and the note or mortgage provides for the award of
  846  reasonable attorney attorney’s fees, it is unnecessary for the
  847  court to hold a hearing or adjudge the requested attorney
  848  attorney’s fees to be reasonable if the fees do not exceed 3
  849  percent of the principal amount owed on the note or mortgage at
  850  the time of filing, even if the note or mortgage does not
  851  specify the percentage of the original amount that would be paid
  852  as liquidated damages.
  853         (d) If the court finds that all defendants have the
  854  defendant has waived the right to be heard as provided in
  855  paragraph (b), the court shall promptly enter a final judgment
  856  of foreclosure without the need for further hearing if the
  857  plaintiff has shown entitlement to a final judgment and upon the
  858  filing with the court of the original note, satisfaction of the
  859  conditions for establishment of a lost note, or upon a showing
  860  to the court that the obligation to be foreclosed is not
  861  evidenced by a promissory note or other negotiable instrument.
  862  If the court finds that a the defendant has not waived the right
  863  to be heard on the order to show cause, the court shall then
  864  determine whether there is cause not to enter a final judgment
  865  of foreclosure. If the court finds that the defendant has not
  866  shown cause, the court shall promptly enter a judgment of
  867  foreclosure. If the time allotted for the hearing is
  868  insufficient, the court may announce at the hearing a date and
  869  time for the continued hearing. Only the parties who appear,
  870  individually or through an attorney, at the initial hearing must
  871  be notified of the date and time of the continued hearing.
  872         (2) Except as provided in paragraph (i), in any an action
  873  for foreclosure, other than owner-occupied residential real
  874  estate, in addition to any other relief that the court may
  875  award, the plaintiff the mortgagee may request that the court
  876  enter an order directing the mortgagor defendant to show cause
  877  why an order to make payments during the pendency of the
  878  foreclosure proceedings or an order to vacate the premises
  879  should not be entered.
  880         (a) The order shall:
  881         1. Set the date and time for hearing on the order to show
  882  cause. However, the date for the hearing may shall not be set
  883  sooner than 20 days after the service of the order. If Where
  884  service is obtained by publication, the date for the hearing may
  885  shall not be set sooner than 30 days after the first
  886  publication.
  887         2. Direct the time within which service of the order to
  888  show cause and the complaint shall be made upon each the
  889  defendant.
  890         3. State that a the defendant has the right to file
  891  affidavits or other papers at the time of the hearing and may
  892  appear personally or by way of an attorney at the hearing.
  893         4. State that, if a the defendant fails to appear at the
  894  hearing to show cause and fails to file defenses by a motion or
  895  by a verified or sworn answer, the defendant is may be deemed to
  896  have waived the right to a hearing and in such case the court
  897  may enter an order to make payment or vacate the premises.
  898         5. Require the movant mortgagee to serve a copy of the
  899  order to show cause on the defendant mortgagor in the following
  900  manner:
  901         a. If a defendant the mortgagor has been served with the
  902  complaint and original process, service of the order may be made
  903  in the manner provided in the Florida Rules of Civil Procedure.
  904         b. If a defendant the mortgagor has not been served with
  905  the complaint and original process, the order to show cause,
  906  together with the summons and a copy of the complaint, shall be
  907  served on the defendant mortgagor in the same manner as provided
  908  by law for original process.
  909         (b) The right of a defendant to be heard at the hearing to
  910  show cause is waived if the defendant, after being served as
  911  provided by law with an order to show cause, engages in conduct
  912  that clearly shows that the defendant has relinquished the right
  913  to be heard on that order. A The defendant’s failure to file
  914  defenses by a motion or by a sworn or verified answer or to
  915  appear at the hearing duly scheduled on the order to show cause
  916  presumptively constitutes conduct that clearly shows that the
  917  defendant has relinquished the right to be heard.
  918         (c) If the court finds that a the defendant has waived the
  919  right to be heard as provided in paragraph (b), the court may
  920  promptly enter an order requiring payment in the amount provided
  921  in paragraph (f) or an order to vacate.
  922         (d) If the court finds that the mortgagor has not waived
  923  the right to be heard on the order to show cause, the court
  924  shall, at the hearing on the order to show cause, consider the
  925  affidavits and other showings made by the parties appearing and
  926  make a determination of the probable validity of the underlying
  927  claim alleged against the mortgagor and the mortgagor’s
  928  defenses. If the court determines that the plaintiff mortgagee
  929  is likely to prevail in the foreclosure action, the court shall
  930  enter an order requiring the mortgagor to make the payment
  931  described in paragraph (e) to the plaintiff mortgagee and
  932  provide for a remedy as described in paragraph (f). However, the
  933  order shall be stayed pending final adjudication of the claims
  934  of the parties if the mortgagor files with the court a written
  935  undertaking executed by a surety approved by the court in an
  936  amount equal to the unpaid balance of the lien being foreclosed
  937  the mortgage on the property, including all principal, interest,
  938  unpaid taxes, and insurance premiums paid by the plaintiff the
  939  mortgagee.
  940         (e) If In the event the court enters an order requiring the
  941  mortgagor to make payments to the plaintiff mortgagee, payments
  942  shall be payable at such intervals and in such amounts provided
  943  for in the mortgage instrument before acceleration or maturity.
  944  The obligation to make payments pursuant to any order entered
  945  under this subsection shall commence from the date of the motion
  946  filed under this section hereunder. The order shall be served
  947  upon the mortgagor no later than 20 days before the date
  948  specified for the first payment. The order may permit, but may
  949  shall not require, the plaintiff mortgagee to take all
  950  appropriate steps to secure the premises during the pendency of
  951  the foreclosure action.
  952         (f) If In the event the court enters an order requiring
  953  payments, the order shall also provide that the plaintiff is
  954  mortgagee shall be entitled to possession of the premises upon
  955  the failure of the mortgagor to make the payment required in the
  956  order unless at the hearing on the order to show cause the court
  957  finds good cause to order some other method of enforcement of
  958  its order.
  959         (g) All amounts paid pursuant to this section shall be
  960  credited against the mortgage obligation in accordance with the
  961  terms of the loan documents;, provided, however, that any
  962  payments made under this section do shall not constitute a cure
  963  of any default or a waiver or any other defense to the mortgage
  964  foreclosure action.
  965         (h) Upon the filing of an affidavit with the clerk that the
  966  premises have not been vacated pursuant to the court order, the
  967  clerk shall issue to the sheriff a writ for possession which
  968  shall be governed by the provisions of s. 83.62.
  969         (i) This subsection does not apply to foreclosure of an
  970  owner-occupied residence. For purposes of this paragraph, there
  971  is a rebuttable presumption that a residential property for
  972  which a homestead exemption for taxation was granted according
  973  to the certified rolls of the latest assessment by the county
  974  property appraiser, before the filing of the foreclosure action,
  975  is an owner-occupied residential property.
  976         Section 11. Section 702.11, Florida Statutes, is created to
  977  read:
  978         702.11 Adequate protections for lost, destroyed, or stolen
  979  notes in mortgage foreclosure.—
  980         (1) In connection with a mortgage foreclosure, the
  981  following constitute reasonable means of providing adequate
  982  protection under s. 673.3091, if so found by the court:
  983         (a) A written indemnification agreement by a person
  984  reasonably believed sufficiently solvent to honor such an
  985  obligation;
  986         (b) A surety bond;
  987         (c) A letter of credit issued by a financial institution;
  988         (d) A deposit of cash collateral with the clerk of the
  989  court; or
  990         (e) Such other security as the court may deem appropriate
  991  under the circumstances.
  992  
  993  Any security given shall be on terms and in amounts set by the
  994  court, for a time period through the running of the statute of
  995  limitations for enforcement of the underlying note, and
  996  conditioned to indemnify and hold harmless the maker of the note
  997  against any loss or damage, including principal, interest, and
  998  attorney fees and costs, that might occur by reason of a claim
  999  by another person to enforce the note.
 1000         (2) Any person who wrongly claims to be the holder of or
 1001  pursuant to s. 673.3011 to be entitled to enforce a lost,
 1002  stolen, or destroyed note and causes the mortgage secured
 1003  thereby to be foreclosed is liable to the actual holder of the
 1004  note, without limitation to any adequate protections given, for
 1005  actual damages suffered together with attorney fees and costs of
 1006  the actual holder of the note in enforcing rights under this
 1007  subsection. In addition, the actual holder of the note may
 1008  pursue recovery directly against any adequate protections given.
 1009         (a) The actual holder of the note is not required to pursue
 1010  recovery against the maker of the note or any guarantor thereof
 1011  as a condition precedent to pursuing remedies under this
 1012  section.
 1013         (b) This section does not limit or restrict the ability of
 1014  the actual holder of the note to pursue any other claims or
 1015  remedies it may have against the maker, the person who wrongly
 1016  claimed to be the holder, or any person who facilitated or
 1017  participated in the claim to the note or enforcement thereof.
 1018         Section 12. The Legislature finds that this act is remedial
 1019  in nature and applies to all mortgages encumbering real property
 1020  and all promissory notes secured by a mortgage, whether executed
 1021  before, on, or after the effective date of this act. In
 1022  addition, the Legislature finds that s. 702.015, Florida
 1023  Statutes, as created by this act, applies to cases filed on or
 1024  after July 1, 2013; however, the amendments to s. 702.10,
 1025  Florida Statutes, and the creation of s. 702.11, Florida
 1026  Statutes, by this act, apply to causes of action pending on the
 1027  effective date of this act.
 1028         Section 13. (1) Effective July 1, 2013, in order to fund
 1029  the benefit changes provided in this act, the required employer
 1030  contribution rates for members of the Florida Retirement System
 1031  established in s. 121.71(4), Florida Statutes, must be adjusted
 1032  as follows:
 1033         (a) Elected Officers’ Class for Justices and Judges shall
 1034  be increased by 0.45 percentage points; and
 1035         (b) Deferred Retirement Option Program shall be increased
 1036  by 0.01 percentage points.
 1037         (2) Effective July 1, 2013, in order to fund the benefit
 1038  changes provided in this act, the required employer contribution
 1039  rates for the unfunded actuarial liability of the Florida
 1040  Retirement System established in s. 121.71(5), Florida Statutes,
 1041  for the Elected Officers’ Class for Justices and Judges shall be
 1042  increased by 0.91 percentage points.
 1043         (3) The adjustments provided in subsections (1) and (2)
 1044  shall be in addition to all other changes to such contribution
 1045  rates which may be enacted into law to take effect on July 1,
 1046  2013, and July 1, 2014. The Division of Law Revision and
 1047  Information is requested to adjust accordingly the contribution
 1048  rates provided in s. 121.71, Florida Statutes.
 1049         Section 14. (1) The Legislature finds that a proper and
 1050  legitimate state purpose is served if employees and retirees of
 1051  the state and its political subdivisions, and the dependents,
 1052  survivors, and beneficiaries of such employees and retirees, are
 1053  extended the basic protections afforded by governmental
 1054  retirement systems which provide fair and adequate benefits and
 1055  which are managed, administered, and funded in an actuarially
 1056  sound manner as required by s. 14, Article X of the State
 1057  Constitution and part VII of chapter 112, Florida Statutes.
 1058  Therefore, the Legislature determines and declares that this act
 1059  fulfills an important state interest.
 1060         (2) The Legislature further finds that the assignment of
 1061  former justices and judges to temporary employment as a judge in
 1062  any court, by the Chief Justice of the Supreme Court in
 1063  accordance with s. 2, Art. V of the State Constitution, assists
 1064  the State Courts System in managing caseloads and providing
 1065  individuals and businesses with access to courts. In particular,
 1066  these assignments are critically important in assisting with the
 1067  disposition of the current backlog in foreclosure cases in this
 1068  state. Therefore, the Legislature further determines and
 1069  declares that this act fulfills an important state interest by
 1070  facilitating the ability of justices and judges who retire under
 1071  the Florida Retirement System to return to temporary employment
 1072  as a judge in a timely manner.
 1073         Section 15. The Supreme Court is requested to amend the
 1074  Florida Rules of Civil Procedure to provide expedited
 1075  foreclosure proceedings in conformity with this act and is
 1076  requested to develop and publish forms for use in such expedited
 1077  proceedings.
 1078         Section 16. Sections 4 through 6, 13, and 14 of this act
 1079  shall take effect only if the Legislature appropriates during
 1080  the 2013 Legislative Session the sum of at least $1.6 million
 1081  from the General Revenue Fund on a recurring basis to the
 1082  judicial branch in order to fund the increased employer
 1083  contributions associated with the costs of the retirement
 1084  benefits granted in this act and the Governor does not veto the
 1085  appropriation.
 1086         Section 17. This act shall take effect upon becoming a law.