Florida Statutes
Fla. Stat. § 674.2101 (2025)
Security interest of collecting bank in items, accompanying documents, and proceeds.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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674.2101 Security interest of collecting bank in items, accompanying documents, and proceeds.—
(1) A collecting bank has a security interest in an item and any accompanying documents or the proceeds of either:
(a) In case of an item deposited in an account, to the extent to which credit given for the item has been withdrawn or applied;
(b) In case of an item for which it has given credit available for withdrawal as of right, to the extent of the credit given, whether or not the credit is drawn upon or there is a right of charge-back; or
(c) If it makes an advance on or against the item.
(2) If credit given for several items received at one time or pursuant to a single agreement is withdrawn or applied in part, the security interest remains upon all the items and any accompanying documents, or the proceeds of either. For the purpose of this section, credits first given are first withdrawn.
(3) Receipt by a collecting bank of a final settlement for an item is a realization on its security interest in the item, accompanying documents, and proceeds. So long as the bank does not receive final settlement for the item or give up possession of the item or possession or control of the accompanying or associated documents for purposes other than collection, the security interest continues to that extent and is subject to chapter 679, but:
(a) No security agreement is necessary to make the security interest enforceable (s. 679.2031(2)(c)1.);
(b) No filing is required to perfect the security interest; and
(c) The security interest has priority over conflicting perfected security interests in the item, accompanying documents, or proceeds.
History.—s. 1, ch. 65-254; s. 28, ch. 92-82; s. 16, ch. 2001-198; s. 17, ch. 2010-131; s. 149, ch. 2025-92.
Note.—s. 4-208, U.C.C.; former s. 674.208.
Notes of Decisions
Cited in 2
cases, 2007–2015 · leading case: Feltman v. City Nat'l Bank (In Re Sophisticated Commc'ns, Inc.), 369 B.R. 689 (Bankr. S.D. Florida 2007).
Feltman v. City Nat'l Bank (In Re Sophisticated Commc'ns, Inc.), 369 B.R. 689 (Bankr. S.D. Florida 2007). “Pursuant to § 674.2101, Fla. Stat. (2002), collecting banks, such as City National in this case, have an automatically perfected security interest in deposited items and their proceeds, which security interest takes priority over all other security interests: (1) A collecting…”
Welch ex rel. Est. of Mongelluzzi v. Highlands Union Bank, 526 B.R. 152 (Bankr. W.D. Va. 2015). “Fla. Stat. § 674.2101 (l)(a). An example exists on April 8-15, 2008, where the alleged overdraft transfer was outstanding for seven days.”
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