The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 673
UNIFORM COMMERCIAL CODE: NEGOTIABLE INSTRUMENTS

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F.S. 673.4201

673.4201 Conversion of instrument.—

(1) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other than a negotiation, from a person not entitled to enforce the instrument or a bank makes or obtains payment with respect to the instrument for a person not entitled to enforce the instrument or receive payment. An action for conversion of an instrument may not be brought by:

(a) The issuer or acceptor of the instrument; or

(b) A payee or indorsee who did not receive delivery of the instrument either directly or through delivery to an agent or a copayee.

(2) In an action under subsection (1), the measure of liability is presumed to be the amount payable on the instrument, but recovery may not exceed the amount of the plaintiff’s interest in the instrument.

(3) A representative, other than a depositary bank, who has in good faith dealt with an instrument or its proceeds on behalf of one who was not the person entitled to enforce the instrument is not liable in conversion to that person beyond the amount of any proceeds that it has not paid out.

History.—s. 2, ch. 92-82.

F.S. 673.4201 on Google Scholar

F.S. 673.4201 on Casetext

Amendments to 673.4201

Arrestable Offenses / Crimes under Fla. Stat. 673.4201

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 673.4201.

Annotations, Discussions, Cases:

Cases from cite.case.law:

CORNERSTONE SMR, INC. v. BANK OF AMERICA, N. A. a, 163 So. 3d 565 (Fla. Dist. Ct. App. 2015)

. . . civil theft and conversion; and it sued the Bank for conversion of an instrument pursuant to section 673.4201 . . .

REGIONS BANK, v. MAROONE CHEVROLET, L. L. C., 118 So. 3d 251 (Fla. Dist. Ct. App. 2013)

. . . This claim is based on section 673.4201(l)(b), Florida Statutes (1997), which provides in relevant part . . .

INDUSTRIAL PARK DEVELOPMENT CORPORATION, v. AMERICAN EXPRESS BANK, FSB,, 960 F. Supp. 2d 1363 (S.D. Fla. 2013)

. . . . § 673.4201(l)(a); see Doc. 34, p. 6. An “issuer” is “a maker or drawer of an instrument.” Fla. . . . Stat. § 673.4201(1) precludes the drawer of a checking account from a conversion action against the bank . . . Stat. § 673.4201(1) (“There is no reason why a drawer should have an action in conversion. . . . Stat. § 673.4201(1). . . . Plaintiffs insistence that these transactions are not “instruments” as contemplated by Florida Statute § 673.4201 . . .

ATTORNEY S TITLE INSURANCE FUND, INC. a v. REGIONS BANK,, 491 F. Supp. 2d 1087 (S.D. Fla. 2007)

. . . Ann. § 673.4201, cmt. 1. . . . The Comment to § 673.4201, which lends insight into the legislative intent in adopting § 673.4201, explains . . . Ann. § 673.4201, cmt. 1. . . . Ann. § 673.4201, cmt. 1. . . . Ann. § 673.4201, cmt. 1. . . . .

C. GLANCY, v. FIRST WESTERN BANK,, 802 So. 2d 498 (Fla. Dist. Ct. App. 2001)

. . . See § 673.4201(2), Fla. Stat. . . . instrument, but recovery may not exceed the amount of the plaintiff's interest in the instrument. § 673.4201 . . .

RACSO DIAGNOSTIC, INC. v. COMMUNITY BANK OF HOMESTEAD,, 735 So. 2d 519 (Fla. Dist. Ct. App. 1999)

. . . that the applicable section of Florida’s version of the Uniform Commercial Code [UCC], current section 673.4201 . . .

In JONES, Sr., 219 B.R. 631 (Bankr. M.D. Fla. 1998)

. . . . § 673.4201(1) (West 1998). . . . See Fla.Stat.Ann. § 673.4201(2) (West 1998) (“In an action under subsection (1) [conversion of instruments . . .