687.15 – Benchmark Replacements for the London Interbank Offered Rate.
1687.15 Benchmark replacements for the London Interbank Offered Rate.— (1) The Legislature finds that the discontinuation of the London Interbank Offered Rate (LIBOR) as a viable interest rate threatens the continued viability of certain contracts, securities, and instruments and the rights of the parties to those contracts, securities, or instruments. Furthermore, the threat of unknown and potentially […]
687.08 – Person Lending Money to Give Borrower Receipt for Payments; Contents of Receipt; Penalty for Violation.
687.08 Person lending money to give borrower receipt for payments; contents of receipt; penalty for violation.— (1) Every person, or the agent, officer, or other representative of any person, lending money in this state upon security shall, whenever the borrower of such money makes a payment of any money, either principal or interest, immediately upon such payment […]
687.09 – Persons Accepting Chattel Mortgage as Security for Loans Under $100 to Cause Amount as Principal, Interest, and Fees to Be Inserted.
687.09 Persons accepting chattel mortgage as security for loans under $100 to cause amount as principal, interest, and fees to be inserted.—Every mortgagee accepting a mortgage on personal property as security for the repayment of a loan of money less than $100 shall cause to be stated in such mortgage, separately and distinctly, the several amounts […]
687.10 – Not Applicable to Chartered Banks, Trust Companies, Building and Loan Associations, Savings and Loan Associations, or Insurance Companies.
687.10 Not applicable to chartered banks, trust companies, building and loan associations, savings and loan associations, or insurance companies.—The provisions of ss. 687.08 and 687.09 shall not apply to chartered banks, state or national, trust companies, building and loan associations or to savings and loan associations, whether chartered under state or federal statutes, or insurance companies. […]
687.12 – Interest Rates; Parity Among Licensed Lenders or Creditors.
687.12 Interest rates; parity among licensed lenders or creditors.— (1) Any lender or creditor licensed or chartered under chapter 516, chapter 520, chapter 657, chapter 658 or former chapter 659, former chapter 664 or former chapter 656, chapter 665, or part XV of chapter 627; any lender or creditor located in this state and licensed or chartered […]
687.125 – Compounding of Interest.
687.125 Compounding of interest.—Interest or finance charges on any loan or extension of credit secured by a mortgage which contains a provision for the compounding of interest may be compounded provided the total amount of interest received by the lender as a result of such compounding, including interest upon interest, produces an effective yield which does […]
687.13 – International Transactions.
687.13 International transactions.— (1) The provisions of this chapter, other than s. 687.071, shall not apply to any loan made by any international bank agency or any bank, including an Edge Act corporation, organized under the laws of the United States or this state to borrowers who are neither residents nor citizens of the United States if […]
687.14 – Definitions.
687.14 Definitions.—As used in this act, unless the context otherwise requires: (1) “Advance fee” means any consideration which is assessed or collected, prior to the closing of a loan, by a loan broker. (2) “Borrower” means a person obtaining or desiring to obtain a loan of money, a credit card, or a line of credit. (3) “Commission” means the […]
687.141 – Loan Brokers; Prohibited Acts.
687.141 Loan brokers; prohibited acts.—No loan broker shall: (1) Assess or collect an advance fee from a borrower to provide services as a loan broker. (2) Make or use any false or misleading representations or omit any material fact in the offer or sale of the services of a loan broker or engage, directly or indirectly, in any […]
687.142 – Responsibility of Principals.
687.142 Responsibility of principals.—Each principal of a loan broker may be sanctioned for the actions of the loan broker, including its agents or employees, in the course of business of the loan broker. History.—s. 3, ch. 91-87.