Florida Statutes Part III - Perfection And Priority (Ss. 679.3011-679.342)

• 679.3011 - Law Governing Perfection And Priority Of Security Interests.
  Except as otherwise provided in ss. 679.1091, 679.3031, 679.3041, 679.3051, and 679.3061, the following rules determine the law governing perfection, the effect of perfection or...
• 679.3021 - Law Governing Perfection And Priority Of Agricultural Liens.
  While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority...
• 679.3031 - Law Governing Perfection And Priority Of Security Interests In Goods Covered By A Certificate Of Title.
  (1) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of...
• 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...
• 679.3051 - Law Governing Perfection And Priority Of Security Interests In Investment Property.
  (1) Except as otherwise provided in subsection (3), the following rules apply:(a) While a security certificate is located in a jurisdiction, the local law of that jurisdiction...
• 679.3061 - Law Governing Perfection And Priority Of Security Interests In Letter-of-credit Rights.
  (1) Subject to subsection (3), the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection, and...
• 679.3071 - Location Of Debtor.
  (1) In this section, the term “place of business” means a place where a debtor conducts its affairs.(2) Except as otherwise provided in this section, the following...
• 679.3081 - When Security Interest Or Agricultural Lien Is Perfected; Continuity Of Perfection.
  (1) Except as otherwise provided in this section and s. 679.3091, a security interest is perfected if it has attached and all of the applicable requirements...
• 679.3091 - Security Interest Perfected Upon Attachment.
  The following security interests are perfected when they attach:(1) A purchase-money security interest in consumer goods, except as otherwise provided in s. 679.3111(2) with respect to...
• 679.3101 - When Filing Required To Perfect Security Interest Or Agricultural Lien; Security Interests And Agricultural Liens To Which Filing Provisions Do Not Apply.
  (1) Except as otherwise provided in subsection (2) and s. 679.3121(2), a financing statement must be filed to perfect all security interests and agricultural liens.(2) The filing...
• 679.3111 - Perfection Of Security Interests In Property Subject To Certain Statutes, Regulations, And Treaties.
  (1) Except as otherwise provided in subsection (4), the filing of a financing statement is not necessary or effective to perfect a security interest in property...
• 679.3121 - Perfection Of Security Interests In Chattel Paper, Deposit Accounts, Documents, Goods Covered By Documents, Instruments, Investment Property, Letter-of-credit Rights, And Money; Perfection By Permissive Filing; Temporary Perfection Without Filing Or Transfer Of Possession.
  (1) A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing.(2) Except as otherwise provided in s. 679.3151(3) and (4)...
• 679.3131 - When Possession By Or Delivery To Secured Party Perfects Security Interest Without Filing.
  (1) Except as otherwise provided in subsection (2), a secured party may perfect a security interest in tangible negotiable documents, goods, instruments, money, or tangible chattel...
• 679.3141 - Perfection By Control.
  (1) A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under...
• 679.3151 - Secured Party’s Rights On Disposition Of Collateral And In Proceeds.
  (1) Except as otherwise provided in this chapter and in s. 672.403(2):(a) A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or...
• 679.3161 - Continued Perfection Of Security Interest Following Change In Governing Law.
  (1) A security interest perfected pursuant to the law of the jurisdiction designated in s. 679.3011(1) or s. 679.3051(3) remains perfected until the earliest of:(a) The time...
• 679.3171 - Interests That Take Priority Over Or Take Free Of Security Interest Or Agricultural Lien.
  (1) A security interest or agricultural lien is subordinate to the rights of:(a) A person entitled to priority under s. 679.322; and(b) Except as otherwise provided in subsection...
• 679.3181 - No Interest Retained In Right To Payment That Is Sold; Rights And Title Of Seller Of Account Or Chattel Paper With Respect To Creditors And Purchasers.
  (1) A debtor who has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral...
• 679.319 - Rights And Title Of Consignee With Respect To Creditors And Purchasers.
  (1) Except as otherwise provided in subsection (2), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee,...
• 679.320 - Buyer Of Goods.
  (1) Except as otherwise provided in subsection (5), a buyer in ordinary course of business, other than a person buying farm products from a person engaged...
• 679.321 - Licensee Of General Intangible And Lessee Of Goods In Ordinary Course Of Business.
  (1) In this section, the term “licensee in ordinary course of business” means a person who becomes a licensee of a general intangible in good faith,...
• 679.322 - Priorities Among Conflicting Security Interests In And Agricultural Liens On Same Collateral.
  (1) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following...
• 679.323 - Future Advances.
  (1) Except as otherwise provided in subsection (3), for purposes of determining the priority of a perfected security interest under s. 679.322(1)(a), perfection of the security...
• 679.324 - Priority Of Purchase-money Security Interests.
  (1) Except as otherwise provided in subsection (7), a perfected purchase-money security interest in goods other than inventory or livestock has priority over a conflicting security...
• 679.325 - Priority Of Security Interests In Transferred Collateral.
  (1) Except as otherwise provided in subsection (2), a security interest created by a debtor is subordinate to a security interest in the same collateral created...
• 679.326 - Priority Of Security Interests Created By New Debtor.
  (1) Subject to subsection (2), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights...
• 679.327 - Priority Of Security Interests In Deposit Account.
  The following rules govern priority among conflicting security interests in the same deposit account:(1) A security interest held by a secured party having control of the...
• 679.328 - Priority Of Security Interests In Investment Property.
  The following rules govern priority among conflicting security interests in the same investment property:(1) A security interest held by a secured party having control of investment...
• 679.329 - Priority Of Security Interests In Letter-of-credit Right.
  The following rules govern priority among conflicting security interests in the same letter-of-credit right:(1) A security interest held by a secured party having control of the...
• 679.330 - Priority Of Purchaser Of Chattel Paper Or Instrument.
  (1) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to...
• 679.331 - Priority Of Rights Of Purchasers Of Instruments, Documents, And Securities Under Other Articles; Priority Of Interests In Financial Assets And Security Entitlements Under Chapter 678.
  (1) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of...
• 679.332 - Transfer Of Money; Transfer Of Funds From Deposit Account.
  (1) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights...
• 679.333 - Priority Of Certain Liens Arising By Operation Of Law.
  (1) In this section, the term “possessory lien” means an interest, other than a security interest or an agricultural lien:(a) Which secures payment or performance of an...
• 679.334 - Priority Of Security Interests In Fixtures And Crops.
  (1) A security interest under this chapter may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest...
• 679.335 - Accessions.
  (1) A security interest may be created in an accession and continues in collateral that becomes an accession.(2) If a security interest is perfected when the collateral...
• 679.336 - Commingled Goods.
  (1) In this section, the term “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost...
• 679.337 - Priority Of Security Interests In Goods Covered By Certificate Of Title.
  If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title...
• 679.338 - Priority Of Security Interest Or Agricultural Lien Perfected By Filed Financing Statement Providing Certain Incorrect Information.
  If a security interest or agricultural lien is perfected by a filed financing statement providing information described in s. 679.516(2)(d) which is incorrect at the...
• 679.339 - Priority Subject To Subordination.
  This chapter does not preclude subordination by agreement by a person entitled to priority.History.—s. 3, ch. 2001-198.
• 679.340 - Effectiveness Of Right Of Recoupment Or Set-off Against Deposit Account.
  (1) Except as otherwise provided in subsection (3), a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against...
• 679.341 - Bank’s Rights And Duties With Respect To Deposit Account.
  Except as otherwise provided in s. 679.340(3), and unless the bank otherwise agrees in an authenticated record, a bank’s rights and duties with respect to...
• 679.342 - Bank’s Right To Refuse To Enter Into Or Disclose Existence Of Control Agreement.
  This chapter does not require a bank to enter into an agreement of the kind described in s. 679.1041(1)(b), even if its customer so requests...

Last modified: September 23, 2016