Florida Statutes
Fla. Stat. § 674.407 (2025)
Payor bank’s right to subrogation on improper payment.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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674.407 Payor bank’s right to subrogation on improper payment.—If a payor bank has paid an item over the order of the drawer or maker to stop payment, or after the account has been closed, or otherwise under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent necessary to prevent loss to the bank by reason of its payment of the item, the payor bank is subrogated to the rights:
(1) Of any holder in due course on the item against the drawer or maker;
(2) Of the payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose; and
(3) Of the drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose.
Note.—s. 4-407, U.C.C.; supersedes s. 659.34.
Notes of Decisions
Cited in 5
cases, 1980–2004 · leading case: Se. First Nat. Bk v. Atl. Telec, 389 So. 2d 1032 (Fla. 5th DCA 1980).
Se. First Nat. Bk v. Atl. Telec, 389 So. 2d 1032 (Fla. 5th DCA 1980). “[10] § 674.407, Fla. Stat. (1979); Stuart v. Hertz Corporation, 302 So.”
Earle v. Se. Bank, N.A., 590 So. 2d 1072 (Fla. 2d DCA 1991). “Southeast argues that it is entitled to be subrogated to the rights of C & S pursuant to section 674.407, Florida Statutes (1989).”
Prof'l Sav. Bank v. Galloway Farm Nursery, Inc., 514 So. 2d 76 (Fla. 3d DCA 1987). “Professional brought an action against Galloway as drawer and against Meyers as payee under section 674.407, Florida Statutes (1985), seeking recovery of the ,230.”
SouthTrust Bank v. PartsBase.com, Inc., 875 So. 2d 17 (Fla. 4th DCA 2004). “] § 674.407, Fla. Stat. (2000); see also E.”
Barnett Bank of Jacksonville v. Warren Fin., Inc., 532 So. 2d 676 (Fla. 1st DCA 1988). “" [10] Under UCC § 4-407 (section 674.407, Florida Statutes), a payor bank which pays an item over a stop-payment order of the drawer or maker or "under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent…”
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