679.3041 – Law governing perfection and priority of security interests in deposit accounts.
679.3041 Law governing perfection and priority of security interests in deposit accounts.— (1) The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank. (2) The following rules determine a bank’s jurisdiction for purposes of this part: (a) If an […]
679.1091 – Scope.
679.1091 Scope.— (1) Except as otherwise provided in subsections (3) and (4), this chapter applies to: (a) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (b) An agricultural lien; (c) A sale of accounts, chattel paper, payment intangibles, or promissory notes; (d) A consignment; (e) A security interest arising under s. 672.401, […]
679.1101 – Security interests arising under chapter 672 or chapter 680.
679.1101 Security interests arising under chapter 672 or chapter 680.—A security interest arising under s. 672.401, s. 672.505, s. 672.711(3), or s. 680.508(5) is subject to this chapter. However, until the debtor obtains possession of the goods: (1) The security interest is enforceable, even if s. 679.2031(2)(c) has not been satisfied; (2) Filing is not required to perfect […]
679.2011 – General effectiveness of security agreement.
679.2011 General effectiveness of security agreement.— (1) Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (2) Nothing in this chapter validates any charge or practice illegal under any statute or regulation thereunder governing usury, small loans, retail […]
679.2021 – Title to collateral immaterial.
679.2021 Title to collateral immaterial.—Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this chapter with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor. History.—s. 2, ch. 2001-198.
679.2031 – Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.
679.2031 Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.— (1) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment. (2) Except as otherwise provided in subsections (3) through (10), a security interest is enforceable against the debtor […]
679.2041 – After-acquired property; future advances.
679.2041 After-acquired property; future advances.— (1) Except as otherwise provided in subsection (2), a security agreement may create or provide for a security interest in after-acquired collateral. (2) A security interest does not attach under a term constituting an after-acquired property clause to: (a) Consumer goods, other than an accession when given as additional security, unless the debtor acquires […]
679.2051 – Use or disposition of collateral permissible.
679.2051 Use or disposition of collateral permissible.— (1) A security interest is not invalid or fraudulent against creditors solely because: (a) The debtor has the right or ability to: 1. Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; 2. Collect, compromise, enforce, or otherwise deal with collateral; 3. Accept the return of collateral […]
679.2061 – Security interest arising in purchase or delivery of financial asset.
679.2061 Security interest arising in purchase or delivery of financial asset.— (1) A security interest in favor of a securities intermediary attaches to a person’s security entitlement if: (a) The person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities intermediary at […]
679.2071 – Rights and duties of secured party having possession or control of collateral.
679.2071 Rights and duties of secured party having possession or control of collateral.— (1) Except as otherwise provided in subsection (4), a secured party shall use reasonable care in the custody and preservation of collateral in the secured party’s possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preserve […]