Florida Statute 516.35 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS

Chapter 516
CONSUMER FINANCE

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F.S. 516.035

516.035 Rate of interest upon default.—In the event that any balance remains unpaid at the expiration of the scheduled maturity date of a loan, licensees may continue to charge interest on the unpaid balance at the rate provided for in s. 516.031(1) for a period not to exceed 12 months. Thereafter, the interest shall not exceed the permissible rate of interest provided by chapter 687. When advances are made pursuant to a line of credit, a licensee may charge interest on the unpaid balance at the rate provided for in s. 516.031(1) for the period a balance remains unpaid.

History.—s. 1, ch. 79-59; s. 2, ch. 81-318; s. 5, ch. 85-32; s. 3, ch. 86-100; ss. 5, 16, 17, ch. 88-342; s. 4, ch. 91-429.

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Amendments to 516.035

Annotations, Discussions, Cases:

Cases Citing Statute 516.035

Total Results: 1

State v. Beach Blvd Automotive, Inc.

139 So. 3d 380, 2014 WL 2040853, 2014 Fla. App. LEXIS 7574

District Court of Appeal of Florida | Filed: May 19, 2014 | Docket: 60241087

Cited 5 times | Published

regulating the type of insurance at issue. Section 516.35, Florida Statutes (2011), which is entitled