Florida Statute 326.005 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXIV
VESSELS

Chapter 326
YACHT AND SHIP BROKERS

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F.S. 326.005

326.005 Escrow depository, closing transactions.—

(1) A broker shall place any funds received pursuant to a transaction into a trust account in a savings and loan association, bank, trust company, or other financial institution located in this state having a net worth in excess of $5 million until he or she disburses such funds. A separate record shall be maintained of all such moneys received and the disposition thereof.

(2) At the closing of a transaction in which title to a yacht is transferred, a broker shall provide the seller and purchaser with an itemized closing statement, including the selling price and all charges and credits, a description of any yachts exchanged, and the amount of any consideration. If the transaction is closed through escrow and the escrow holder renders a closing statement which reveals such information, that shall be deemed compliance with this subsection on the part of the licensed broker.

(3) A broker who intentionally fails to comply with the provisions of this section concerning the establishment of a trust account, deposits of funds into a trust account, and withdrawal therefrom, commits a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. The failure to establish a trust account or to place funds therein as required in this section is prima facie evidence of an intentional and purposeful violation of this section.

History.—ss. 5, 7, ch. 88-282; s. 5, ch. 89-128; s. 4, ch. 91-429; s. 448, ch. 95-148.

F.S. 326.005 on Google Scholar

F.S. 326.005 on Casetext

Amendments to 326.005

Arrestable Offenses / Crimes under Fla. Stat. 326.005

Level: Degree
Misdemeanor/Felony: First/Second/Third

S326.005 - EMBEZZLE - SHIP BROKER FAIL ESTABLISH USE TRUST ACCOUNT - F: T

S326.005 3 - EMBEZZLE - SHIP BROKER FAIL ESTABLISH USE TRUST ACCOUNT - F: T

Annotations, Discussions, Cases:

Cases Citing Statute 326.005

Total Results: 18

Executive Office of the Governor v. AHF MCO of Florida, Inc. d/b/a PHC Florida HIV/AIDS Specialty Plan

Court: Fla. Dist. Ct. App. | Date Filed: 2018-10-29T00:53:00-07:00

Snippet: Henderson v. State, 745 So. 2d 319, 326 5 (Fla. 1999). The Legislature established

Cox v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2005-04-20T00:00:00-07:00

Citation: 912 So. 2d 15

Snippet: scoresheet — which produced a sentencing range of 326.5 to 544.2 months (27.2 to 45.35 years). After the

Beaubien v. Cambridge Consol., Ltd.

Court: Fla. Dist. Ct. App. | Date Filed: 1995-03-31T00:00:00-08:00

Citation: 652 So. 2d 936

Snippet: William Fratcher, IV Scott on Trusts §§ 326.4, 326.5; 56 Fla.Jur.2d Trusts § 121 (1985). [3] 76 AmJur

In Re Amend. to Fla. Rules of Cr. Proc.

Court: Fla. | Date Filed: 1992-09-24T00:53:00-07:00

Citation: 606 So. 2d 227

Snippet: their degree and the number of counts of each. *326 (5.) a) "Prior record" refers to any past

Underwood v. City of North Miami

Court: Fla. Dist. Ct. App. | Date Filed: 1990-03-13T00:00:00-08:00

Citation: 559 So. 2d 97

Snippet: Fla.1955); City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593 (1942); Kass v. City of Miami Beach,

Bovio v. City of Miami Springs

Court: Fla. Dist. Ct. App. | Date Filed: 1988-04-26T00:53:00-07:00

Citation: 523 So. 2d 1247

Snippet: condition. See City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593 (1942); Kennedy, 429 So.2d at 1211-12

City of Pensacola v. Stamm

Court: Fla. Dist. Ct. App. | Date Filed: 1984-03-29T23:53:00-08:00

Citation: 448 So. 2d 39

Snippet: parkway areas. City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593 (1942); Kitchen, et al. v. City of Jacksonville

Kass v. City of Miami Beach

Court: Fla. Dist. Ct. App. | Date Filed: 1983-09-06T00:00:00-07:00

Citation: 436 So. 2d 1086

Snippet: Fla.1955); City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593 (1942); Collom v. City of St. Petersburg

Cauley v. City of Jacksonville

Court: Fla. | Date Filed: 1981-07-16T00:53:00-07:00

Citation: 403 So. 2d 379

Snippet: in road); City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593 (1942) (depression in road surface);

City of Tamarac v. Garchar

Court: Fla. Dist. Ct. App. | Date Filed: 1981-05-01T00:53:00-07:00

Citation: 398 So. 2d 889

Snippet: (1941); City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593 (1942); City of Fort Lauderdale v. Duchine

Runowich v. City of St. Petersburg

Court: Fla. Dist. Ct. App. | Date Filed: 1973-04-13T00:00:00-08:00

Citation: 276 So. 2d 83

Snippet: .1955), and City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593 (1942). LILES, A. C. J., and HOBSON and

Musetto v. City of Miami Beach

Court: Fla. | Date Filed: 1955-09-28T00:00:00-08:00

Citation: 82 So. 2d 595

Snippet: authority of City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593; Kitchen v. City of Jacksonville, 158

Dramstadt v. City of West Palm Beach

Court: Fla. | Date Filed: 1955-06-17T00:53:00-07:00

Citation: 81 So. 2d 484

Snippet: 441, and City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593. A city or the water company is not required

City of Fort Lauderdale v. Duchine

Court: Fla. | Date Filed: 1954-03-12T00:00:00-08:00

Citation: 70 So. 2d 897

Snippet: Compare City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593; Kitchen v. City of Jacksonville, 158

City of Jacksonville v. Waldrep

Court: Fla. | Date Filed: 1953-01-15T23:53:00-08:00

Citation: 63 So. 2d 768

Snippet: authority of the City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593 and Kitchen v. City of Jacksonville,

Mullis v. City of Miami

Court: Fla. | Date Filed: 1952-08-01T00:53:00-07:00

Citation: 60 So. 2d 174

Snippet: See also City of Miami Beach v. Quinn, 149 Fla. 326, 5 So.2d 593; City of Tampa v. Easton, 145 Fla. 188

State ex rel. Ellis v. Atlantic Coast Line Railroad

Court: Fla. | Date Filed: 1907-01-15T00:00:00-08:00

Citation: 53 Fla. 650

Snippet: amp; A. R. Co. v. State, 25 Fla. 310, 324, 325, 326, 5 South. Rep. 833, 839, 840, 3 L. R. A. 661. “It

Holton v. State

Court: Fla. | Date Filed: 1849-01-15T00:00:02-07:52:58

Citation: 2 Fla. 476

Snippet: forth with sufficient certainty. 1 Chitty’s Cr. L., 326.—5 Bac. Abr., title Indictment, 93. This record does