Florida Statute 678.1121 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 678
UNIFORM COMMERCIAL CODE: INVESTMENT SECURITIES

View Entire Chapter

F.S. 678.1121

678.1121 Creditor’s legal process.—

(1) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the officer making the attachment or levy, except as otherwise provided in subsection (4). However, a certificated security for which the certificate has been surrendered to the issuer may be reached by a creditor by legal process upon the issuer.

(2) The interest of a debtor in an uncertificated security may be reached by a creditor only by legal process upon the issuer at its chief executive office in the United States, except as otherwise provided in subsection (4).

(3) The interest of a debtor in a security entitlement may be reached by a creditor only by legal process upon the securities intermediary with whom the debtor’s securities account is maintained, except as otherwise provided in subsection (4).

(4) The interest of a debtor in a certificated security for which the certificate is in the possession of a secured party, or in an uncertificated security registered in the name of a secured party, or a security entitlement maintained in the name of a secured party, may be reached by a creditor by legal process upon the secured party.

(5) A creditor whose debtor is the owner of a certificated security, uncertificated security, or security entitlement is entitled to aid from a court of competent jurisdiction, by injunction or otherwise, in reaching the certificated security, uncertificated security, or security entitlement or in satisfying the claim by means allowed at law or in equity in regard to property that cannot readily be reached by other legal process.

History.—s. 1, ch. 98-11.

F.S. 678.1121 on Google Scholar

F.S. 678.1121 on Casetext

Amendments to 678.1121

Arrestable Offenses / Crimes under Fla. Stat. 678.1121

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 678.1121.

Annotations, Discussions, Cases:

Cases Citing Statute 678.1121

Total Results: 2

John G. Schanck v. William M. Gayhart and Debra L. Buchanan, etc.

Court: Fla. Dist. Ct. App. | Date Filed: 2018-04-30T00:53:00-07:00

Snippet: the certificates. The Estate relied on section 678.1121(5), Florida Statutes, which broadly authorizes…action affecting the certificates and that section 678.1121, Florida Statutes, does not authorize the reissuance…jurisdiction, it lacked authority under section 678.1121 to order their reissuance. Appellant relied…jurisdiction, there is no express authority in section 678.1121, Florida Statutes, whereby the court can order… of stock and membership certificates. Section 678.1121 outlines the procedure by which a creditor may

Klauber v. First Federal Bank of Florida

Court: Fla. Dist. Ct. App. | Date Filed: 2016-02-26T00:00:00-08:00

Citation: 198 So. 3d 762, 2016 Fla. App. LEXIS 2867, 2016 WL 746551

Snippet: power to enter such an order. . See § 678.1121(5), Fla. Stat. (2014) (providing that a creditor