The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

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F.S. 679.3151

679.3151 Secured party’s rights on disposition of collateral and in proceeds.—

(1) Except as otherwise provided in this chapter and in s. 672.403(2):

(a) A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized the disposition free of the security interest or agricultural lien; and

(b) A security interest attaches to any identifiable proceeds of collateral.

(2) Proceeds that are commingled with other property are identifiable proceeds:

(a) If the proceeds are goods, to the extent provided by s. 679.336; and

(b) If the proceeds are not goods, to the extent that the secured party identifies the proceeds by a method of tracing, including application of equitable principles, that is permitted under law other than this chapter with respect to commingled property of the type involved.

(3) A security interest in proceeds is a perfected security interest if the security interest in the original collateral was perfected.

(4) A perfected security interest in proceeds becomes unperfected on the 21st day after the security interest attaches to the proceeds unless:

(a) The following conditions are satisfied:

1. A filed financing statement covers the original collateral;

2. The proceeds are collateral in which a security interest may be perfected by filing in the office in which the financing statement has been filed; and

3. The proceeds are not acquired with cash proceeds;

(b) The proceeds are identifiable cash proceeds; or

(c) The security interest in the proceeds is perfected other than under subsection (3) when the security interest attaches to the proceeds or within 20 days thereafter.

(5) If a filed financing statement covers the original collateral, a security interest in proceeds which remains perfected under paragraph (4)(a) becomes unperfected at the later of:

(a) When the effectiveness of the filed financing statement lapses under s. 679.515 or is terminated under s. 679.513; or

(b) The 21st day after the security interest attaches to the proceeds.

History.—s. 3, ch. 2001-198.

F.S. 679.3151 on Google Scholar

F.S. 679.3151 on Casetext

Amendments to 679.3151

Arrestable Offenses / Crimes under Fla. Stat. 679.3151

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 679.3151.

Annotations, Discussions, Cases:

Cases from cite.case.law:

IN RE TUSCANY ENERGY, LLC, v. P. A. LLC,, 581 B.R. 681 (Bankr. S.D. Fla. 2018)

. . . . § 679.3151(3). . . .

IN RE TUSCANY ENERGY, LLC,, 561 B.R. 910 (Bankr. S.D. Fla. 2016)

. . . See Florida Statutes § 679.3151(3). . . .

BEACH COMMUNITY BANK, v. DISPOSAL SERVICES, LLC,, 199 So. 3d 1132 (Fla. Dist. Ct. App. 2016)

. . . Beach contends that the trial court erred in interpreting section 679.3151, Florida Statutes, to, preclude . . .

AMEGY BANK NATIONAL ASSOCIATION, v. DEUTSCHE BANK CORPORATION, DB, 917 F. Supp. 2d 1228 (M.D. Fla. 2013)

. . . . § 679.3151(1). . . . Stat. § 679.3151, cmt. 2, which provides that a secured party may “repossess the collateral from the . . . Stat. § 679.3151(4). Fla. . . . . § 679.3151(4) provides three different scenarios where a creditor may retain its interest in the collateral . . .

In R. CREWS D. R. D. v. TD N. A. f k a, 477 B.R. 835 (Bankr. M.D. Fla. 2012)

. . . . § 679.3151(4) since Defendant did not file a UCC-1 financing statement (Doc. 6 at 13-15). . . . Stat. § 679.3151(1). Id. at 163-64. . . . Stat. § 679.3151(4). . . .

In ROYAL WEST PROPERTIES, INC., 441 B.R. 158 (Bankr. S.D. Fla. 2010)

. . . Ann. § 679.3151(l)(b) (West 2010). . . . Ann. § 679.3151(1) (West 2010). . . . Ann. § 679.3151(1) (West 2010). . . . Ann. § 679.3151(3) (West 2010). . . . Stat. § 679.3151 or (ii) within twenty days of automatic attachment under Fla. Stat. § 679.3151. . . .

In DELCO OIL, INC. Co. LLC. v. R., 599 F.3d 1255 (11th Cir. 2010)

. . . . § 679.3151(l)(b) and (3) (“A security interest attaches to any identifiable proceeds of collateral” . . . Stat. § 679.3151(l)(b) and (3). . . .

In DELCO OIL, INC. Co. LLC. v. R., 599 F.3d 1255 (11th Cir. 2010)

. . . . § 679.3151(l)(b) and (3) (“A security interest attaches to any identifiable proceeds of collateral” . . . Stat. § 679.3151(l)(b) and (3). . . .

In DELCO OIL, INC., 365 B.R. 246 (Bankr. M.D. Fla. 2007)

. . . Florida Statute § 679.3121(2)(a), provides, in pertinent part: Except as otherwise provided in § 679.3151 . . . Stat. 679.3151(2)(a) is similar, provides in pertinent part: 5. Deposit Accounts. . . . Florida Statutes, Section 679.3151 addresses the secured party’s rights on disposition of collateral . . .

In CYPRESS FOODS, INC., 278 B.R. 622 (Bankr. M.D. Fla. 2002)

. . . Stat. 679.3151 and 679.322 apply with respect to proceeds and priorities in proceeds .... . . .