678.3011
Delivery.
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678.3011 Delivery.—
(1) Delivery of a certificated security to a purchaser occurs when:
(a) The purchaser acquires possession of the security certificate;
(b) Another person, other than a securities intermediary, either acquires possession of the security certificate on behalf of the purchaser or, having previously acquired possession of the certificate, acknowledges that it holds for the purchaser; or
(c) A securities intermediary acting on behalf of the purchaser acquires possession of the security certificate, only if the certificate is in registered form and is registered in the name of the purchaser, payable to the order of the purchaser, or specially indorsed to the purchaser by an effective indorsement and has not been endorsed to the securities intermediary or in blank.
(2) Delivery of an uncertificated security to a purchaser occurs when:
(a) The issuer registers the purchaser as the registered owner, upon original issue or registration of transfer; or
(b) Another person, other than a securities intermediary, either becomes the registered owner of the uncertificated security on behalf of the purchaser or, having previously become the registered owner, acknowledges that it holds for the purchaser.
History.—s. 3, ch. 98-11; s. 22, ch. 2001-198.
Notes of Decisions
Cited in 3
cases, 2010–2015 · leading case: Seidler v. Wells Fargo Bank, N.A.
Seidler v. Wells Fargo Bank, N.A. (2015)
“Wachovia’s standing,, as a holder under section 678.3011(1), Florida Statutes, could, thus have been proved upon a showing that Wachovia possessed the note, as indorsed, on December 16, 2008, when the complaint was filed.”
Taoufiq Seffar v. Residential Credit Solutions, Inc. (2015)
“In Murray , we held that the lender, HSBC, had not proved standing where it had alleged that it was a nonholder in possession of the note and mortgage, because it did not prove that each prior transfer of the note conferred the right to enforce it: HSBC was thus left to enforce…”
Guthartz v. Park Centre West Corp. (2010)
“1021 (1)©, 1071(l)(b) (requiring that “instructions” directing the transfer of uncertified shares be made to the issuer); Fla. Stat. § 678.3011 (2)(a)-(b) (defining “delivery” for uncertified securities by registration with the corporation).”
— 678.3011(1) — 1 case
Seidler v. Wells Fargo Bank, N.A. (2015)
“Wachovia’s standing,, as a holder under section 678.3011(1), Florida Statutes, could, thus have been proved upon a showing that Wachovia possessed the note, as indorsed, on December 16, 2008, when the complaint was filed.”
— 678.3011(2) — 1 case
Taoufiq Seffar v. Residential Credit Solutions, Inc. (2015)
“In Murray , we held that the lender, HSBC, had not proved standing where it had alleged that it was a nonholder in possession of the note and mortgage, because it did not prove that each prior transfer of the note conferred the right to enforce it: HSBC was thus left to enforce…”
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