Florida Statute 516.035 | Lawyer Caselaw & Research

The 2024 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

Arrestable Offenses / Crimes under Fla. Stat. 516.035

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 516.035.

Annotations, Discussions, Cases:

Cases Citing Statute 516.035

Total Results: 3

State v. Beach Blvd Automotive, Inc.

Court: District Court of Appeal of Florida | Date Filed: 2014-05-19

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

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

Vissers v. Jordon

Court: District Court of Appeal of Florida | Date Filed: 1961-07-14

Citation: 131 So. 2d 754, 1961 Fla. App. LEXIS 2820

Snippet: 81 *756So. 476; Sater v. Stenor, Inc., 160 Fla. 516, 35 So.2d 584; Schutzer v. City of Miami, Fla.App.1958

Van Roy v. Hoover

Court: Supreme Court of Florida | Date Filed: 1928-07-11

Citation: 117 So. 887, 96 Fla. 194

Snippet: 5 L. R. A. 104; Cochrane v. Schnell, 140 N.Y. 516, 35 N.E. R. *Page 200 971; Minot v. Taylor, 129 Mass