673.4201
Conversion of instrument.
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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.
Notes of Decisions
Cited in 8
cases (1 in the last 5 years), 1998–2022 · leading case: Attorney's Title Insurance Fund, Inc. v. Regions Bank
Attorney's Title Insurance Fund, Inc. v. Regions Bank (2007)
“See Fla. Stat. Ann. § 673.4201 , cmt. 1. According to Florida case law, a payee must allege and prove delivery of the cheek in order to sue for its conversion.”
Industrial Park Development Corp. v. American Express Bank, FSB (2013)
“” Fla. Stat. § 673.4201 (l)(a); 5 see Doc. 34, p.”
Regions Bank v. Maroone Chevrolet, L.L.C. (2013)
“This claim is based on section 673.4201(l)(b), Florida Statutes (1997), which provides in relevant part: “An action for conversion of an instrument may not be brought by .”
Cornerstone SMR, Inc. v. Bank of America, N.A. (2015)
“It sued the bookkeeper for civil theft, conversion, and breach of fiduciary duty; it sued JustTime for civil theft and conversion; and it sued the Bank for conversion of an instrument pursuant to section 673.4201, Florida Statutes, breach of good faith and fair dealing, and…”
Glancy v. First Western Bank (2001)
“…payable on the instrument, but recovery may not exceed the amount of the Plaintiff's interest in the instrument. § 673.4201(1)-(2), Fla. Stat. (2000).”
In Re Jones (1998)
“Florida’s Uniform Commercial Code provides that the law relating to the conversion of personal property is applicable to instruments as well.”
RACSO DIAGNOSTIC v. Community Bank (1999)
“The former section, upon which the decision in Isaac Industries was based, contained the following relevant words: a depository or collection bank (as Community Bank is here) is "not liable in conversion or otherwise to the true owner beyond the amount of any proceeds remaining…”
VFS Leasing Co. v. Markel Insurance Company (2022)
“See § 673.4201, F.S. However, it appears that this Florida statute adopted a UCC provision, and it is certainly not unique to Florida.”
— 673.4201(1) — 3 cases
Attorney's Title Insurance Fund, Inc. v. Regions Bank (2007)
“See Fla. Stat. Ann. § 673.4201 , cmt. 1. According to Florida case law, a payee must allege and prove delivery of the cheek in order to sue for its conversion.”
Glancy v. First Western Bank (2001)
“…payable on the instrument, but recovery may not exceed the amount of the Plaintiff's interest in the instrument. § 673.4201(1)-(2), Fla. Stat. (2000).”
In Re Jones (1998)
“Florida’s Uniform Commercial Code provides that the law relating to the conversion of personal property is applicable to instruments as well.”
— 673.4201(2) — 3 cases
Attorney's Title Insurance Fund, Inc. v. Regions Bank (2007)
“See Fla. Stat. Ann. § 673.4201 , cmt. 1. According to Florida case law, a payee must allege and prove delivery of the cheek in order to sue for its conversion.”
Glancy v. First Western Bank (2001)
“…payable on the instrument, but recovery may not exceed the amount of the Plaintiff's interest in the instrument. § 673.4201(1)-(2), Fla. Stat. (2000).”
In Re Jones (1998)
“Florida’s Uniform Commercial Code provides that the law relating to the conversion of personal property is applicable to instruments as well.”
— 673.4201(l) — 1 case
Attorney's Title Insurance Fund, Inc. v. Regions Bank (2007)
“See Fla. Stat. Ann. § 673.4201 , cmt. 1. According to Florida case law, a payee must allege and prove delivery of the cheek in order to sue for its conversion.”
— 673.4201(l)(a) — 1 case
Industrial Park Development Corp. v. American Express Bank, FSB (2013)
“” Fla. Stat. § 673.4201 (l)(a); 5 see Doc. 34, p.”
— 673.4201(l)(b) — 2 cases
Regions Bank v. Maroone Chevrolet, L.L.C. (2013)
“This claim is based on section 673.4201(l)(b), Florida Statutes (1997), which provides in relevant part: “An action for conversion of an instrument may not be brought by .”
Attorney's Title Insurance Fund, Inc. v. Regions Bank (2007)
“See Fla. Stat. Ann. § 673.4201 , cmt. 1. According to Florida case law, a payee must allege and prove delivery of the cheek in order to sue for its conversion.”
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