Florida Statute 516.16 - 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. 516.16

516.16 Confession of judgment; power of attorney; contents of notes and security.—No licensee shall take any confession of judgment or any power of attorney. Nor shall a licensee take any note, promise to pay, or security that does not state the actual amount of the loan, the time for which it is made, and the rate of interest charged, nor any instrument in which blanks are left to be filled after execution. However, with respect to a line of credit, the note, promise to pay, or security need not state the time for which it is made.

History.—s. 15, ch. 10177, 1925; CGL 4013; s. 2, ch. 81-318; s. 5, ch. 86-100; ss. 16, 17, ch. 88-342; s. 4, ch. 91-429; s. 680, ch. 97-103.

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Amendments to 516.16

Annotations, Discussions, Cases:

Cases Citing Statute 516.16

Total Results: 1

Vann v. Accounts Supervision Co.

88 So. 2d 548, 1956 Fla. LEXIS 3827, 58 A.L.R. 2d 1260

Supreme Court of Florida | Filed: Jun 29, 1956 | Docket: 64488159

Published

Vann, one of the comakers, as prohibited by Section 516.16, Fla.Stat.1955, F.S.A.; and (2) that the note