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Florida Statute 516.01 - Full Text and Legal Analysis Florida Statute 516.01 | Lawyer Caselaw & Research
Fla. Stat. § 516.01 (2026) Copy Cite Official Site Syfertize CourtListener Amendments
516.01 Definitions.—As used in this chapter, the term:
(1) “Branch” means any location, other than a licensee’s principal place of business, at which a licensee operates or conducts business under this chapter or which the licensee owns or controls for the purpose of conducting business under this chapter.
(2) “Commission” means the Financial Services Commission.
(3) “Consumer finance borrower” or “borrower” means a person who has incurred either direct or contingent liability to repay a consumer finance loan.
(4) “Consumer finance loan” means a loan of money, credit, goods, or choses in action, including, except as otherwise specifically indicated, provision of a line of credit, in an amount or to a value of $25,000 or less for which the lender charges, contracts for, collects, or receives interest at a rate greater than 18 percent per annum.
(5) “Control person” means an individual, partnership, corporation, trust, or other organization that possesses the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise. A person is presumed to control a company if, with respect to a particular company, that person:
(a) Is a director, general partner, or officer exercising executive responsibility or having similar status or functions;
(b) Directly or indirectly may vote 10 percent or more of a class of a voting security or sell or direct the sale of 10 percent or more of a class of voting securities; or
(c) In the case of a partnership, may receive upon dissolution or has contributed 10 percent or more of the capital.
(6) “Interest” means the cost of obtaining a consumer finance loan and includes any profit or advantage of any kind whatsoever that a lender may charge, contract for, collect, receive, or in anywise obtain, including by means of any collateral sale, purchase, or agreement, as a condition for a consumer finance loan. Charges specifically permitted by this chapter, including commissions received for insurance written as permitted by this chapter, shall not be deemed interest.
(7) “License” means a permit issued under this chapter to make and collect loans in accordance with this chapter at a single place of business.
(8) “Licensee” means a person to whom a license is issued.
(9) “Office” means the Office of Financial Regulation of the commission.
History.—s. 19, ch. 10177, 1925; CGL 4016; s. 6, ch. 20728, 1941; s. 7, ch. 22858, 1945; s. 1, ch. 57-201; ss. 12, 35, ch. 69-106; s. 193, ch. 71-377; s. 189, ch. 77-104; s. 2, ch. 81-318; s. 1, ch. 86-100; ss. 1, 16, 17, ch. 88-342; s. 1, ch. 90-104; s. 4, ch. 91-429; s. 569, ch. 2003-261; s. 24, ch. 2006-213; s. 1, ch. 2024-276.

Cases Citing F.S. 516.01

Fla. Stat. § 516.01 (2026) Copy Cite Official Site Syfertize CourtListener Amendments
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·James Olson v. Superior Pontiac-Gmc, Inc., 765 F.2d 1570 (11th Cir. 1985).

Cited 48 times | Published | Court of Appeals for the Eleventh Circuit | 27 Wage & Hour Cas. (BNA) 393, 1985 U.S. App. LEXIS 20625

for work periods and pay periods. . 29 C.F.R. § 516.1(a) (1984). . Section 516.2 of the Code of Federal
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Cited as authorityBobadilla v. UOI Group, Inc. (2024)
Cited as authorityAbrantes v. United States (2022)
Cited as authorityMaldanado v. Cultural Care, Inc. (2021)
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·Betts v. Ace Cash Express, Inc., 827 So. 2d 294 (Fla. 5th DCA 2002).

Cited 8 times | Published | Florida 5th District Court of Appeal | 2002 WL 1988252

...The Plaintiffs made several allegations including: (1) the transactions constitute a loan and the fees charged were interest payments that exceeded the lawful rate in violation of Florida's usury statute; (2) the Defendants were not licensed to make consumer loans in an amount less than $25,000 in violation of section 516.01, Florida Statutes, et seq.; [3] and (3) Defendants were engaged in false, misleading and deceptive advertising by making statements that it was engaged in a lawful check cashing service when it was actually engaged in the illegal consu...
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Cited as authorityHenley v. State (2015)
Cited as authorityMcKenzie Check Advance of Florida v. Betts (2006)
CitedCardegna v. Buckeye Check Cashing, Inc. (2005)
phrase: "see"
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·Betts v. Advance Am., 213 F.R.D. 466 (M.D. Fla. 2003).

Published | District Court, M.D. Florida | 2003 U.S. Dist. LEXIS 2825, 2003 WL 738752

...as otherwise specifically indicated, provision of a line of credit, in an amount or to a value of $25,000 or less for which the lender charges, contracts for, collects, or receives interest at a rate greater than 18 percent per annum.” Fla. Stat. § 516.01 (2)....
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Cited as authorityState of Fla., Office of Atty. v. Tenet Healthcare (2005)
Cited as authorityNicor International Corp. v. El Paso Corp. (2004)
Cited as authorityBessinger v. Food Lion, Inc. (2003)
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Pilafian v. Green, 141 So. 2d 341 (Fla. Dist. Ct. App. 1962).

Published | District Court of Appeal of Florida | 1962 Fla. App. LEXIS 3259

...In this appeal it is necessary for us to construe and apply the provisions of the Small Loan Law of Florida, being Chapter 516, Florida Statutes, F.S.A. The Comptroller of the State of Florida is designated as the licensing official of small loan businesses under Section 516.01 (1) (d), Florida Statutes, F.S.A....

This Florida statute resource is curated by Graham Syfert, a Jacksonville, Florida personal injury and workers' compensation attorney (Florida Bar No. 39104). For legal consultation, call 904-383-7448.