reglab/statecodes huggingface dataset:
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.513 - Termination statement.

679.513 Termination statement.—
(1) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:
(a) There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(b) The debtor did not authorize the filing of the initial financing statement.
(2) To comply with subsection (1), a secured party shall cause the secured party of record to file the termination statement:
(a) Within 1 month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(b) If earlier, within 20 days after the secured party receives an authenticated demand from a debtor.
(3) In cases not governed by subsection (1), within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if:
(a) Except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;
(b) The financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;
(c) The financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor’s possession; or
(d) The debtor did not authorize the filing of the initial financing statement.
(4) Except as otherwise provided in s. 679.510, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in s. 679.510, for purposes of ss. 679.519(7) and 679.522(1), the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
History.—s. 6, ch. 2001-198; s. 10, ch. 2002-242; s. 2, ch. 2003-134.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.514 - Assignment of powers of secured party of record.

679.514 Assignment of powers of secured party of record.—
(1) Except as otherwise provided in subsection (3), an initial financing statement may reflect an assignment of all of the secured party’s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
(2) Except as otherwise provided in subsection (3), a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which:
(a) Identifies, by its correct file number and the secured party of record, the initial financing statement to which it relates;
(b) Provides the names of the assignor and debtor; and
(c) Provides the name and mailing address of the assignee.
(3) An assignment of record of a security interest in a fixture covered by a real property mortgage that is effective as a fixture filing under s. 679.5021(3) may be made only by an assignment of record of the mortgage in the manner provided by s. 701.02.
History.—s. 6, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.515 - Duration and effectiveness of financing statement; effect of lapsed financing statement.

679.515 Duration and effectiveness of financing statement; effect of lapsed financing statement.—
(1) Except as otherwise provided in subsections (2), (5), (6), and (7), a filed financing statement is effective for a period of 5 years after the date of filing.
(2) Except as otherwise provided in subsections (5), (6), and (7), an initial financing statement filed in connection with a manufactured-home transaction is effective for a period of 30 years after the date of filing if it indicates that it is filed in connection with a manufactured-home transaction.
(3) The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless, before the lapse, a continuation statement is filed pursuant to subsection (4). Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected without filing. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value.
(4) A continuation statement may be filed only within 6 months before the expiration of the 5-year period specified in subsection (1) or the 30-year period specified in subsection (2), whichever is applicable.
(5) Except as otherwise provided in s. 679.510, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of 5 years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the 5-year period, the financing statement lapses in the same manner as provided in subsection (3), unless, before the lapse, another continuation statement is filed pursuant to subsection (4). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.
(6) If a debtor is a transmitting utility and a filed initial financing statement so indicates, the financing statement is effective until a termination statement is filed.
(7) A record of a mortgage satisfying the requirements of chapter 697 that is effective as a fixture filing under s. 679.5021(3) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.
History.—s. 6, ch. 2001-198; s. 13, ch. 2012-59.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.517 - Effect of indexing errors.

679.517 Effect of indexing errors.—The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record.
History.—s. 6, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.518 - Claim concerning inaccurate or wrongfully filed record.

679.518 Claim concerning inaccurate or wrongfully filed record.—
(1) A person may file in the filing office an information statement with respect to a record indexed there under the person’s name if the person believes that the record is inaccurate or was wrongfully filed.
(2) An information statement under subsection (1) must:
(a) Identify the record to which it relates by the file number assigned to the initial financing statement, the debtor, and the secured party of record to which the record relates;
(b) Indicate that it is an information statement; and
(c) Provide the basis for the person’s belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person’s belief that the record was wrongfully filed.
(3) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under s. 679.509(3).
(4) An information statement under subsection (3) must:
(a) Identify the record to which it relates by file number assigned to the initial financing statement to which the record relates;
(b) Indicate that it is an information statement; and
(c) Provide the basis for the person’s belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person’s belief that the record was wrongfully filed.
(5) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
History.—s. 6, ch. 2001-198; s. 15, ch. 2012-59.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.520 - Acceptance and refusal to accept record.

679.520 Acceptance and refusal to accept record.—
(1) A filing office shall refuse to accept a record for filing for a reason set forth in s. 679.516(2) and may refuse to accept a record for filing only for a reason set forth in s. 679.516(2).
(2) If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by any filing-office rule but, in the case of a filing office described in s. 679.5011(1)(b), in no event more than 3 business days after the filing office receives the record, if practical.
(3) A filed financing statement satisfying s. 679.5021(1) and (2) is effective, even if the filing office is required to refuse to accept it for filing under subsection (1). However, s. 679.338 applies to a filed financing statement providing information described in s. 679.516(2)(d) which is incorrect at the time the financing statement is filed.
(4) If a record communicated to a filing office provides information that relates to more than one debtor, this part applies as to each debtor separately.
History.—s. 6, ch. 2001-198; s. 150, ch. 2004-5.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.521 - Uniform form of written financing statement and amendment.

679.521 Uniform form of written financing statement and amendment.—The Secretary of State shall develop or approve acceptable forms for use in filing under this chapter. Such forms must be in accord with the requirements of Florida law, including s. 201.22. The secretary may, if he or she finds that such forms meet these requirements, approve the use of a standard national form for this purpose.
History.—s. 6, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.522 - Maintenance and destruction of records.

679.522 Maintenance and destruction of records.—
(1) The filing office shall maintain a record of the information provided in a filed financing statement for at least 1 year after the effectiveness of the financing statement has lapsed under s. 679.515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and by using the file number, or official records book and page number if a fixture filing, assigned to the initial financing statement to which the record relates.
(2) Except to the extent that chapter 119 governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with subsection (1).
History.—s. 6, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.523 - Information from filing office; sale or license of records.

679.523 Information from filing office; sale or license of records.—
(1) If a person files a written record, the filing office shall make available, on the database, an image of the record showing the number assigned to the record pursuant to s. 679.519(1)(a) and the date of the filing of the record or, if requested, send to the person a separate printed acknowledgment indicating the debtor’s name, the number assigned to the record pursuant to s. 679.519(1)(a), and the date of the filing of the record.
(2) If a person files a record other than a written record, the filing office described in s. 679.5011(1)(b) shall communicate to the person an image that provides:
(a) The information in the record;
(b) The number assigned to the record pursuant to s. 679.519(1)(a); and
(c) The date and time of the filing of the record.
(3) In complying with its duty under this chapter, the filing office described in s. 679.5011(1)(b) may communicate information in any medium. However, if requested, the filing office shall communicate information by issuing its written certificate or a record that can be admitted into evidence in the courts of the state without extrinsic evidence of its authenticity.
(4) The filing office described in s. 679.5011(1)(b) shall perform the acts required by subsections (1) and (2) at the time and in the manner prescribed by any filing-office rule, but not later than 3 business days after the filing office receives the request, if practical.
History.—s. 6, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.524 - Delay by filing office.

679.524 Delay by filing office.—Delay by the filing office beyond a time limit prescribed by this part is excused if:
(1) The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office; and
(2) The filing office exercises reasonable diligence under the circumstances.
History.—s. 6, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.525 - Processing fees.

679.525 Processing fees.—
(1) Except as otherwise provided in subsection (3), the nonrefundable processing fee for filing and indexing a record under this part, other than an initial financing statement of the kind described in s. 679.5021(3), is:
(a) For filing an initial financing statement, $25 for the first page, which shall include the cost of filing a termination statement for the financing statement;
(b) For filing an amendment, $12 for the first page;
(c) For indexing by additional debtor, secured party, or assignee, $3 per additional name indexed;
(d) For use of a nonapproved form, $5;
(e) For each additional page attached to a record, $3;
(f) For a certified copy of a financing statement and any and all associated amendments, $30;
(g) For a photocopy of a filed record, $1 per page; and
(h) For filing an initial financing statement, an additional $10 for the first page. Receipts from this fee shall be deposited into the General Revenue Fund and are not included in the receipts for purposes of calculating the contractor’s compensation for performing services regarding the Florida Secured Transaction Registry.
(2) Except as otherwise provided in subsection (3), the fee for filing and indexing an initial financing statement of the kind described in s. 679.5021(3) is the amount specified in chapter 28.
(3) This section does not require a fee with respect to a mortgage that is effective as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut under s. 679.5021(3). However, the recording and satisfaction fees that otherwise would be applicable to the mortgage apply.
History.—s. 6, ch. 2001-198; s. 26, ch. 2007-134; s. 24, ch. 2009-72.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part V - Filing (Ss. 679.5011-679.527) › 679.526 - Filing-office rules.

679.526 Filing-office rules.—The Department of State may adopt and publish rules to administer this chapter. The filing-office rules must be:
(1) Consistent with this chapter.
(2) Adopted and published in accordance with the Administrative Procedure Act.
History.—s. 6, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.601 - Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.

679.601 Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.—
(1) After default, a secured party has the rights provided in this part and, except as otherwise provided in s. 679.602, those provided by agreement of the parties. A secured party:
(a) May reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by any available judicial procedure; and
(b) If the collateral is documents, may proceed either as to the documents or as to the goods they cover.
(2) A secured party in possession of collateral or control of collateral under s. 679.1041, s. 679.1051, s. 679.1061, or s. 679.1071 has the rights and duties provided in s. 679.2071.
(3) The rights under subsections (1) and (2) are cumulative and may be exercised simultaneously.
(4) Except as otherwise provided in subsection (7) and s. 679.605, after default, a debtor and an obligor have the rights provided in this part and by agreement of the parties.
(5) If a secured party has reduced its claim to judgment, the lien of any levy that may be made upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of:
(a) The date of perfection of the security interest or agricultural lien in the collateral;
(b) The date of filing a financing statement covering the collateral; or
(c) Any date specified in a statute under which the agricultural lien was created.
(6) A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this chapter.
(7) Except as otherwise provided in s. 679.607(3), this part imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.602 - Waiver and variance of rights and duties.

679.602 Waiver and variance of rights and duties.—Except as otherwise provided in s. 679.624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections:
(1) Section 679.2071(2)(d)3., which deals with use and operation of the collateral by the secured party;
(2) Section 679.210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) Section 679.607(3), which deals with collection and enforcement of collateral;
(4) Sections 679.608(1) and 679.615(3) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) Sections 679.608(1) and 679.615(4) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) Section 679.609 to the extent that it imposes upon a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
(7) Sections 679.610(2), 679.611, 679.613, and 679.614, which deal with disposition of collateral;
(8) Section 679.615(6), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
(9) Section 679.616, which deals with explanation of the calculation of a surplus or deficiency;
(10) Sections 679.620, 679.621, and 679.622, which deal with acceptance of collateral in satisfaction of obligation;
(11) Section 679.623, which deals with redemption of collateral;
(12) Section 679.624, which deals with permissible waivers; and
(13) Sections 679.625 and 679.626, which deal with the secured party’s liability for failure to comply with this article.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.603 - Agreement on standards concerning rights and duties.

679.603 Agreement on standards concerning rights and duties.—
(1) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in s. 679.602 if the standards are not manifestly unreasonable.
(2) Subsection (1) does not apply to the duty under s. 679.609 to refrain from breaching the peace.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.604 - Procedure if security agreement covers real property or fixtures.

679.604 Procedure if security agreement covers real property or fixtures.—
(1) If a security agreement covers both personal and real property, a secured party may proceed:
(a) Under this part as to the personal property without prejudicing any rights with respect to the real property; or
(b) As to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this part do not apply.
(2) Subject to subsection (3), if a security agreement covers goods that are or become fixtures, a secured party may proceed:
(a) Under this part; or
(b) In accordance with the rights with respect to real property, in which case the other provisions of this part do not apply.
(3) Subject to the other provisions of this part, if a secured party holding a security interest in fixtures has priority over all owners and encumbrancers of the real property, the secured party, after default, may remove the collateral from the real property. The secured party shall give reasonable notification of its intent to remove the collateral to all persons entitled to reimbursement under subsection (4).
(4) A secured party that removes collateral shall promptly reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury caused by the removal. The secured party need not reimburse the encumbrancer or owner for any diminution in value of the real property caused by the absence of the goods removed or by any necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse. This subsection does not prohibit a secured party and the person entitled to reimbursement from entering into an authenticated record providing for the removal of fixtures and reimbursement for any damage caused thereby.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.605 - Unknown debtor or secondary obligor.

679.605 Unknown debtor or secondary obligor.—A secured party does not owe a duty based on its status as secured party:
(1) To a person who is a debtor or obligor, unless the secured party knows:
(a) That the person is a debtor or obligor;
(b) The identity of the person; and
(c) How to communicate with the person; or
(2) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:
(a) That the person is a debtor; and
(b) The identity of the person.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.606 - Time of default for agricultural lien.

679.606 Time of default for agricultural lien.—For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.607 - Collection and enforcement by secured party.

679.607 Collection and enforcement by secured party.—
(1) If so agreed, and in any event after default, a secured party:
(a) May notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party;
(b) May take any proceeds to which the secured party is entitled under s. 679.3151;
(c) May enforce the obligations of an account debtor or other person obligated on collateral and exercise the rights of the debtor with respect to the obligation of the account debtor or other person obligated on collateral to make payment or otherwise render performance to the debtor, and with respect to any property that secures the obligations of the account debtor or other person obligated on the collateral;
(d) If it holds a security interest in a deposit account perfected by control under s. 679.1041(1)(a), may apply the balance of the deposit account to the obligation secured by the deposit account; and
(e) If it holds a security interest in a deposit account perfected by control under s. 679.1041(1)(b) or (c), may instruct the bank to pay the balance of the deposit account to or for the benefit of the secured party.
(2) If necessary to enable a secured party to exercise under paragraph (1)(c) the right of a debtor to enforce a mortgage nonjudicially outside this state, the secured party may record in the office in which a record of the mortgage is recorded:
(a) A copy of the security agreement that creates or provides for a security interest in the obligation secured by the mortgage; and
(b) The secured party’s sworn affidavit in recordable form stating that:
1. A default has occurred with respect to the obligation secured by the mortgage; and
2. The secured party is entitled to enforce the mortgage nonjudicially outside this state.
(3) A secured party shall proceed in a commercially reasonable manner if the secured party:
(a) Undertakes to collect from or enforce an obligation of an account debtor or other person obligated on collateral; and
(b) Is entitled to charge back uncollected collateral or otherwise to full or limited recourse against the debtor or a secondary obligor.
(4) A secured party may deduct from the collections made pursuant to subsection (3) reasonable expenses of collection and enforcement, including reasonable attorney’s fees and legal expenses incurred by the secured party.
(5) This section does not determine whether an account debtor, bank, or other person obligated on collateral owes a duty to a secured party.
(6) Nothing in subsection (2) is intended to create a right of nonjudicial foreclosure in this state.
History.—s. 7, ch. 2001-198; s. 16, ch. 2012-59.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.609 - Secured party’s right to take possession after default.

679.609 Secured party’s right to take possession after default.—
(1) After default, a secured party:
(a) May take possession of the collateral; and
(b) Without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under s. 679.610.
(2) A secured party may proceed under subsection (1):
(a) Pursuant to judicial process; or
(b) Without judicial process, if it proceeds without breach of the peace.
(3) If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.610 - Disposition of collateral after default.

679.610 Disposition of collateral after default.—
(1) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing.
(2) Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms.
(3) A secured party may purchase collateral:
(a) At a public disposition; or
(b) At a private disposition only if the collateral is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations.
(4) A contract for sale, lease, license, or other disposition includes the warranties relating to title, possession, quiet enjoyment, and the like which by operation of law accompany a voluntary disposition of property of the kind subject to the contract.
(5) A secured party may disclaim or modify warranties under subsection (4):
(a) In a manner that would be effective to disclaim or modify the warranties in a voluntary disposition of property of the kind subject to the contract of disposition; or
(b) By communicating to the purchaser a record evidencing the contract for disposition and including an express disclaimer or modification of the warranties.
(6) A record is sufficient to disclaim warranties under subsection (5) if it indicates that “there is no warranty relating to title, possession, quiet enjoyment, or the like in this disposition” or uses words of similar import.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.612 - Timeliness of notification before disposition of collateral.

679.612 Timeliness of notification before disposition of collateral.—
(1) Except as otherwise provided in subsection (2), whether a notification is sent within a reasonable time is a question of fact.
(2) A notification of disposition sent after default and 10 days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.613 - Contents and form of notification before disposition of collateral; general.

679.613 Contents and form of notification before disposition of collateral; general.—Except in a consumer-goods transaction, the following rules apply:
(1) The contents of a notification of disposition are sufficient if the notification:
(a) Describes the debtor and the secured party;
(b) Describes the collateral that is the subject of the intended disposition;
(c) States the method of intended disposition;
(d) States that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
(e) States the time and place of a public disposition or the time after which any other disposition is to be made.
(2) Whether the contents of a notification that lacks any of the information specified in subsection (1) are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in subsection (1) are sufficient, even if the notification includes:
(a) Information not specified by that paragraph; or
(b) Minor errors that are not seriously misleading.
(4) A particular phrasing of the notification is not required.
(5) The following form of notification and the form appearing in s. 679.614(3), when completed, each provides sufficient information:
NOTIFICATION OF DISPOSITION
OF COLLATERAL
To:  (Name of debtor, obligor, or other person to which the notification is sent)
From:  (Name, address, and telephone number of secured party)
Name of Debtor(s):  (Include only if debtor(s) are not an addressee)
[For a public disposition:]
We will sell [or lease or license, as applicable] the   (describe collateral)  to the highest qualified bidder in public as follows:
Day and Date:
Time:
Place:
[For a private disposition:]
We will sell [or lease or license, as applicable] the   (describe collateral)   privately sometime after   (day and date)  .
You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell [or lease or license, as applicable] for a charge of $ . You may request an accounting by calling us at   (telephone number)  .
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.617 - Rights of transferee of collateral.

679.617 Rights of transferee of collateral.—
(1) A secured party’s disposition of collateral after default:
(a) Transfers to a transferee for value all of the debtor’s rights in the collateral;
(b) Discharges the security interest under which the disposition is made; and
(c) Discharges any subordinate security interest or other subordinate lien other than liens created under statutes providing for liens, if any, that are not to be discharged.
(2) A transferee that acts in good faith takes free of the rights and interests described in subsection (1), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.
(3) If a transferee does not take free of the rights and interests described in subsection (1), the transferee takes the collateral subject to:
(a) The debtor’s rights in the collateral;
(b) The security interest or agricultural lien under which the disposition is made; and
(c) Any other security interest or other lien.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.618 - Rights and duties of certain secondary obligors.

679.618 Rights and duties of certain secondary obligors.—
(1) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:
(a) Receives an assignment of a secured obligation from the secured party;
(b) Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or
(c) Is subrogated to the rights of a secured party with respect to collateral.
(2) An assignment, transfer, or subrogation described in subsection (1):
(a) Is not a disposition of collateral under s. 679.610; and
(b) Relieves the secured party of further duties under this chapter.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.619 - Transfer of record or legal title.

679.619 Transfer of record or legal title.—
(1) In this section, the term “transfer statement” means a record authenticated by a secured party stating:
(a) That the debtor has defaulted in connection with an obligation secured by specified collateral;
(b) That the secured party has exercised its post-default remedies with respect to the collateral;
(c) That, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and
(d) The name and mailing address of the secured party, debtor, and transferee.
(2) A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration, or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:
(a) Accept the transfer statement;
(b) Promptly amend its records to reflect the transfer; and
(c) If applicable, issue a new appropriate certificate of title in the name of the transferee.
(3) A transfer of the record or legal title to collateral to a secured party under subsection (2) or otherwise is not of itself a disposition of collateral under this chapter and does not of itself relieve the secured party of its duties under this chapter.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.621 - Notification of proposal to accept collateral.

679.621 Notification of proposal to accept collateral.—
(1) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:
(a) Any person from whom the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;
(b) Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:
1. Identified the collateral;
2. Was indexed under the debtor’s name as of that date; and
3. Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and
(c) Any other secured party that, 10 days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in s. 679.3111(1).
(2) A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (1).
(3) A secured party shall send its proposal under subsection (1) or subsection (2) to the affected party at the address prescribed in s. 679.611(6).
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.622 - Effect of acceptance of collateral.

679.622 Effect of acceptance of collateral.—
(1) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures:
(a) Discharges the obligation to the extent consented to by the debtor;
(b) Transfers to the secured party all of a debtor’s rights in the collateral;
(c) Discharges the security interest or agricultural lien that is the subject of the debtor’s consent and any subordinate security interest or other subordinate lien; and
(d) Terminates any other subordinate interest.
(2) A subordinate interest is discharged or terminated under subsection (1), even if the secured party fails to comply with this chapter.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.623 - Right to redeem collateral.

679.623 Right to redeem collateral.—
(1) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(2) To redeem collateral, a person shall tender:
(a) Fulfillment of all obligations secured by the collateral; and
(b) The reasonable expenses and attorney’s fees described in s. 679.615(1)(a).
(3) A redemption may occur at any time before a secured party:
(a) Has collected collateral under s. 679.607;
(b) Has disposed of collateral or entered into a contract for its disposition under s. 679.610; or
(c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 679.622.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.624 - Waiver.

679.624 Waiver.—
(1) A debtor or secondary obligor may waive the right to notification of disposition of collateral under s. 679.611 only by an agreement to that effect entered into and authenticated after default.
(2) A debtor may waive the right to require disposition of collateral under s. 679.620(5) only by an agreement to that effect entered into and authenticated after default.
(3) Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under s. 679.623 only by an agreement to that effect entered into and authenticated after default.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.626 - Action in which deficiency or surplus is in issue.

679.626 Action in which deficiency or surplus is in issue.—In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply:
(1) A secured party need not prove compliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party’s compliance in issue.
(2) If the secured party’s compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this part.
(3) Except as otherwise provided in s. 679.628, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, reasonable expenses, and, to the extent provided for by agreement and not prohibited by law, attorney’s fees exceeds the greater of:
(a) The proceeds of the collection, enforcement, disposition, or acceptance; or
(b) The amount of proceeds that would have been realized had the noncomplying secured party proceeded in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance.
(4) For purposes of paragraph (3)(b), the amount of proceeds that would have been realized is equal to the sum of the secured obligation, expenses, and attorney’s fees unless the secured party proves that the amount is less than that sum.
(5) If a deficiency or surplus is calculated under s. 679.615(6), the debtor or obligor has the burden of establishing that the amount of proceeds of the disposition is significantly below the range of prices that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.627 - Determination of whether conduct was commercially reasonable.

679.627 Determination of whether conduct was commercially reasonable.—
(1) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition, or acceptance was made in a commercially reasonable manner.
(2) A disposition of collateral is made in a commercially reasonable manner if the disposition is made:
(a) In the usual manner on any recognized market;
(b) At the price current in any recognized market at the time of the disposition; or
(c) Otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.
(3) A collection, enforcement, disposition, or acceptance is commercially reasonable if it has been approved:
(a) In a judicial proceeding;
(b) By a bona fide creditors’ committee;
(c) By a representative of creditors; or
(d) By an assignee for the benefit of creditors.
(4) Approval under subsection (3) need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable.
History.—s. 7, ch. 2001-198.
2023 Florida Statutes › Title XXXIX - Commercial Relations › Chapter 679 - Uniform Commercial Code: Secured Transactions › Part VI - Default (Ss. 679.601-679.628) › 679.628 - Nonliability and limitation on liability of secured party; liability of secondary obligor.

679.628 Nonliability and limitation on liability of secured party; liability of secondary obligor.—
(1) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person:
(a) The secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this chapter; and
(b) The secured party’s failure to comply with this chapter does not affect the liability of the person for a deficiency.
(2) A secured party is not liable because of its status as a secured party:
(a) To a person who is a debtor or obligor, unless the secured party knows:
1. That the person is a debtor or obligor;
2. The identity of the person; and
3. How to communicate with the person; or
(b) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:
1. That the person is a debtor; and
2. The identity of the person.
(3) A secured party is not liable to any person, and a person’s liability for a deficiency is not affected, because of any act or omission arising out of the secured party’s reasonable belief that a transaction is not a consumer-goods transaction or a consumer transaction or that goods are not consumer goods, if the secured party’s belief is based on its reasonable reliance on:
(a) A debtor’s representation concerning the purpose for which collateral was to be used, acquired, or held; or
(b) An obligor’s representation concerning the purpose for which a secured obligation was incurred.
(4) A secured party is not liable to any person under s. 679.625(3)(b) for its failure to comply with s. 679.616.
(5) A secured party is not liable under s. 679.625(3)(b) more than once with respect to any one secured obligation.
History.—s. 7, ch. 2001-198.