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Florida Statute 537.5 - Full Text and Legal Analysis
Florida Statute 537.005 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 537.005 Case Law from Google Scholar Google Search for Amendments to 537.005

The 2025 Florida Statutes

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS
Chapter 537
TITLE LOANS
View Entire Chapter
F.S. 537.005
537.005 Application for license.
(1) A verified application for licensure under this act, in the form prescribed by commission rule, shall:
(a) Contain the name and the residence and business address of the applicant. If the applicant is other than a natural person, the application shall contain the name and the residence and business address of each ultimate equitable owner of 10 percent or more of such entity and each director, general partner, and executive officer of such entity.
(b) State whether any individual identified in paragraph (a) has, within the last 10 years, pleaded nolo contendere to, or has been convicted or found guilty of, a felony, regardless of whether adjudication was withheld.
(c) Identify the county and municipality with the street and number or location where the business is to be conducted.
(d) Contain additional information as the commission determines by rule to be necessary to ensure compliance with this act.
(2) Notwithstanding subsection (1), the application need not state the full name and address of each officer, director, and shareholder if the applicant is owned directly or beneficially by a person who as an issuer has a class of securities registered pursuant to s. 12 of the Securities Exchange Act of 1934 or, pursuant to s. 13 or s. 15(d) of such act, is an issuer of securities which is required to file reports with the Securities and Exchange Commission, if the person files with the office any information, documents, and reports required by such act to be filed with the Securities and Exchange Commission.
(3) An applicant for licensure shall file with the office a bond, in the amount of $100,000 for each license, with a surety company qualified to do business in this state. However, in no event shall the aggregate amount of the bond required for a single title loan lender exceed $1 million. In lieu of the bond, the applicant may establish a certificate of deposit or an irrevocable letter of credit in a financial institution, as defined in s. 655.005, in the amount of the bond. The original bond, certificate of deposit, or letter of credit shall be filed with the office, and the office shall be the beneficiary to that document. The bond, certificate of deposit, or letter of credit shall be in favor of the office for the use and benefit of any consumer who is injured pursuant to a title loan transaction by the fraud, misrepresentation, breach of contract, financial failure, or violation of any provision of this act by the title loan lender. Such liability may be enforced either by proceeding in an administrative action or by filing a judicial suit at law in a court of competent jurisdiction. However, in such court suit, the bond, certificate of deposit, or letter of credit posted with the office shall not be amenable or subject to any judgment or other legal process issuing out of or from such court in connection with such lawsuit, but such bond, certificate of deposit, or letter of credit shall be amenable to and enforceable only by and through administrative proceedings before the office. It is the intent of the Legislature that such bond, certificate of deposit, or letter of credit shall be applicable and liable only for the payment of claims duly adjudicated by order of the office. The bond, certificate of deposit, or letter of credit shall be payable on a pro rata basis as determined by the office, but the aggregate amount may not exceed the amount of the bond, certificate of deposit, or letter of credit.
(4) The office shall approve an application and issue a license if the office determines that the applicant satisfies the requirements of this act.
History.s. 5, ch. 2000-138; s. 642, ch. 2003-261.

F.S. 537.005 on Google Scholar

F.S. 537.005 on CourtListener

Amendments to 537.005


Annotations, Discussions, Cases:

Cases Citing Statute 537.005

Total Results: 6

CHANDRIS, SA v. Yanakakis

668 So. 2d 180, 1996 A.M.C. 2668, 1995 Fla. LEXIS 2037, 1995 WL 752306

Supreme Court of Florida | Filed: Dec 21, 1995 | Docket: 677867

Cited 37 times | Published

contract was unenforceable under the provisions of section 537.05(2), Florida Statutes (1977), requiring brokerage

United Yacht Brokers, Inc. v. Gillespie

377 So. 2d 668, 1979 Fla. LEXIS 4877

Supreme Court of Florida | Filed: Nov 21, 1979 | Docket: 423304

Cited 29 times | Published

court inherently passed on the validity of section 537.05, Florida Statutes. We have jurisdiction.[1]

In Re Estate of Gainer

466 So. 2d 1055, 10 Fla. L. Weekly 116

Supreme Court of Florida | Filed: Feb 14, 1985 | Docket: 438576

Cited 10 times | Published

Inc. v. Gillespie, we upheld the validity of section 537.05(2) against an equal protection challenge. This

Hatteras of Lauderdale, Inc. v. Erisman

383 So. 2d 985, 1980 Fla. App. LEXIS 16259

District Court of Appeal of Florida | Filed: May 28, 1980 | Docket: 64576253

Published

prejudice because of failure to comply with Section 537.05(2), Florida Statute (1977) which legislation

United Yacht Brokers, Inc. v. Gillespie

353 So. 2d 574, 1977 Fla. App. LEXIS 16855

District Court of Appeal of Florida | Filed: Dec 6, 1977 | Docket: 64562008

Published

following language: [T]he plaintiff alleges that § 537.05 is unique in the field of regulatory legislation

Dugas v. Dubois

221 So. 2d 771, 1969 Fla. App. LEXIS 5976

District Court of Appeal of Florida | Filed: Apr 1, 1969 | Docket: 64509500

Published

1965, and which took effect on June 25, 1965. Section 537.05(2), F.S.1965, F.S.A. The Act provides: “537