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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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An act relating to residential tenancies; amending s. 2
83.43, F.S.; defining the term "Florida financial 3
institution"; amending ss. 83.49, 83.491, and 553.895, 4
F.S.; conforming provisions and cross -references to 5
changes made by the act; providing an effective date. 6
7
Be It Enacted by the Legislature of the State of Florida: 8
9
Section 1. Subsections (7) through (17) of section 83.43, 10
Florida Statutes, are re numbered as subsections (8) through 11
(18), respectively, and a new subsection (7) is added to that 12
section to read: 13
83.43 Definitions.—As used in this part, the following 14
words and terms shall have the following meanings unless some 15
other meaning is plain ly indicated: 16
(7) "Florida financial institution" means a bank, credit 17
union, trust company, savings bank, or savings or thrift 18
association doing business under the authority of a charter 19
issued by the United States, this state, or any other state 20
which is authorized to transact business in this state and whose 21
deposits or share accounts are insured by the Federal Deposit 22
Insurance Corporation or the National Credit Union Share 23
Insurance Fund. 24
Section 2. Paragraphs (a) and (b) of subsection (1) of 25
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
section 83.49, Florida Statutes, are amended to read: 26
83.49 Deposit money or advance rent; duty of landlord and 27
tenant.— 28
(1) Whenever money is deposited or advanced by a tenant on 29
a rental agreement as security for performance of the rental 30
agreement or as advance rent for other than the next immediate 31
rental period, the landlord or the landlord's agent shall 32
either: 33
(a) Hold the total amount of such money in a separate non -34
interest-bearing account in a Florida financial banking 35
institution for the benef it of the tenant or tenants. The 36
landlord shall not commingle such moneys with any other funds of 37
the landlord or hypothecate, pledge, or in any other way make 38
use of such moneys until such moneys are actually due the 39
landlord; 40
(b) Hold the total amount of such money in a separate 41
interest-bearing account in a Florida financial banking 42
institution for the benefit of the tenant or tenants, in which 43
case the tenant shall receive and collect interest in an amount 44
of at least 75 percent of the annualized aver age interest rate 45
payable on such account or interest at the rate of 5 percent per 46
year, simple interest, whichever the landlord elects. The 47
landlord shall not commingle such moneys with any other funds of 48
the landlord or hypothecate, pledge, or in any oth er way make 49
use of such moneys until such moneys are actually due the 50
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
landlord; or 51
Section 3. Subsection (6) of section 83.491, Florida 52
Statutes, is amended to read: 53
83.491 Fee in lieu of security deposit. — 54
(6) A fee collected under this section, o r an insurance 55
product or a surety bond accepted, by a landlord in lieu of a 56
security deposit is not a security deposit as defined in s. 57
83.43(13) s. 83.43(12). 58
Section 4. Subsection (1) of section 553.895, Florida 59
Statutes, is amended to read: 60
553.895 Firesafety.— 61
(1) Any transient public lodging establishment, as defined 62
in chapter 509 and used primarily for transient occupancy as 63
defined in s. 83.43(18) s. 83.43(17), or any timeshare unit of a 64
timeshare plan as defined in chapters 718 and 721, which is of 65
three stories or more and for which the construction contract 66
has been let after September 30, 1983, with interior corridors 67
which do not have direct access from the guest area to exterior 68
means of egress and on buildings over 75 feet in height that 69
have direct access from the guest area to exterior means of 70
egress and for which the construction contract has been let 71
after September 30, 1983, shall be equipped with an automatic 72
sprinkler system installed in compliance with the provisions 73
prescribed in the National Fire Protection Association 74
publication NFPA No. 13 (1985), "Standards for the Installation 75
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
of Sprinkler Systems." Each guest room and each timeshare unit 76
shall be equipped with an appr oved listed single-station smoke 77
detector meeting the minimum requirements of NFPA 74 (1984) 78
"Standards for the Installation, Maintenance and Use of 79
Household Fire Warning Equipment," powered from the building 80
electrical service, notwithstanding the number of stories in the 81
structure, if the contract for construction is let after 82
September 30, 1983. Single -station smoke detectors shall not be 83
required when guest rooms or timeshare units contain smoke 84
detectors connected to a central alarm system which also alarms 85
locally. 86
Section 5. This act shall take effect upon becoming a law. 87