All intangible property held for the owner by any court, government or governmental subdivision or agency, public corporation, or public authority that has remained unclaimed by the owner for more than 1 year after it became payable or distributable is presumed abandoned. Notwithstanding the provisions of this section, funds deposited in the ¹Minerals Trust Fund pursuant to s. 377.247 are presumed abandoned only if the funds have remained unclaimed by the owner for more than 5 years from the date of first production from the well.

¹Note.--Terminated effective July 1, 2000, by s. 1, ch. 99-205.

History.--s. 14, ch. 87-105; s. 4, ch. 94-193; s. 71, ch. 96-321.