Florida Statute 537.005 | Lawyer Caselaw & Research

The 2024 Florida Statutes

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

Chapter 537
TITLE LOANS

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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.

(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 Casetext

Amendments to 537.005

Arrestable Offenses / Crimes under Fla. Stat. 537.005

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 537.005.

Annotations, Discussions, Cases:

Cases Citing Statute 537.005

Total Results: 14

Nationstar Mortgage, LLC v. Zorie

Court: Fla. Dist. Ct. App. | Date Filed: 2014-08-29T00:00:00-07:00

Citation: 146 So. 3d 1209

Snippet: law.” Id. at 1081 (citing Thompson, 923 So.2d at 537).5 Florida courts have consistently held that a “complaint

GUY'S WORLD, INC. v. Condon

Court: Fla. Dist. Ct. App. | Date Filed: 2008-12-31T00:00:00-08:00

Citation: 1 So. 3d 240

Snippet: Protection Act, 47 U.S.C.A. § 227, 30 A.L.R. Fed.2d 537, § 5 (2008). These cases suggest that Congress did

CHANDRIS, SA v. Yanakakis

Court: Fla. | Date Filed: 1995-12-20T23:53:00-08:00

Citation: 668 So. 2d 180

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

Ago

Court: Fla. Att'y Gen. | Date Filed: 1985-08-12T00:53:00-07:00

Snippet: been issued by the board." See also, s.489.537(5), F.S., reiterating that the appropriate local official

In Re Estate of Gainer

Court: Fla. | Date Filed: 1985-02-13T23:53:00-08:00

Citation: 466 So. 2d 1055

Snippet: v. Gillespie, we upheld the validity of section 537.05(2) against an equal protection challenge. This …required, and, accordingly, we find that section 537.05(2) is a reasonable legislative classification serving

Hatteras of Lauderdale, Inc. v. Erisman

Court: Fla. Dist. Ct. App. | Date Filed: 1980-05-28T00:00:00-07:00

Citation: 383 So. 2d 985

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

United Yacht Brokers, Inc. v. Gillespie

Court: Fla. | Date Filed: 1979-11-20T23:53:00-08:00

Citation: 377 So. 2d 668

Snippet: court inherently passed on the validity of section 537.05, Florida Statutes. We have jurisdiction.[1] The…complaint did not allege compliance with section 537.05(2), Florida Statutes, which requires licensed yacht…complaint which alleged in both counts that section 537.05(2) was unconstitutional. This time the trial court…grounds that United failed to comply with section 537.05(2). United appealed both orders to the Fourth District…inherently passed on the constitutionality of section 537.05(2). Harrell's Candy Kitchen, Inc. v. Sarasota-Manatee

United Yacht Brokers, Inc. v. Gillespie

Court: Fla. Dist. Ct. App. | Date Filed: 1977-12-06T00:00:00-08:00

Citation: 353 So. 2d 574

Snippet: following language: [T]he plaintiff alleges that § 537.05 is unique in the field of regulatory legislation…trial judge did not specifically mention Section 537.05 nor its validity, “but this fact does not alter…Carroll, 104 So.2d 375, 377 (Fla.1958). If Section 537.05 had been declared void by the trial court in concurrence

Benton v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1976-04-01T23:53:00-08:00

Citation: 329 So. 2d 385

Snippet: 2523, 37 L.Ed.2d 706 (1973); Annot., 48 A.L.R.3d 537, § 5 (1973), and 26 U.Miami L.Rev. 289, Sec. IV (1972

State v. Volk

Court: Fla. Dist. Ct. App. | Date Filed: 1974-03-06T00:53:00-07:00

Citation: 291 So. 2d 643

Snippet: 487 F.2d 468. See also, Annotation 48 A.L.R.3d 537. [5] Fla.App.2d 1971, 256 So.2d 32. 72-158

Owens-Illinois, Inc. v. Lewis

Court: Fla. Dist. Ct. App. | Date Filed: 1972-03-27T23:53:00-08:00

Citation: 260 So. 2d 221

Snippet: Hurley v. Werly, (Fla.App. 1967) 203 So.2d 530, 537. [5] Swindle v. Reid, (Fla.App. 1971) 242 So.2d 751

Dugas v. Dubois

Court: Fla. Dist. Ct. App. | Date Filed: 1969-04-01T00:00:00-08:00

Citation: 221 So. 2d 771

Snippet: June 25, 1965. Section 537.05(2), F.S.1965, F.S.A. The Act provides: “537.05 (2) Before any licensee

Bay Point Mill Co. v. Saunders

Court: Fla. | Date Filed: 1909-06-15T00:00:00-08:00

Citation: 58 Fla. 389

Snippet: 13 South. Rep. 894; Erhardt v. Boaro, 113 U. S. 537, 5 Sup. Ct. Rep. 565, 28 L. ed. 1116; Spear v. Cutter

Brown v. Solary

Court: Fla. | Date Filed: 1896-01-14T23:53:00-08:00

Citation: 37 Fla. 102

Snippet: . 18 Am. Dec. 350; Erhardt vs. Boaro, 113 U. S. 537, 5. Sup. Ct. Rep. 565; Bacon vs. Jones, 4 Mylne &