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. 679.508

679.508 Effectiveness of financing statement if new debtor becomes bound by security agreement.—

(1) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.

(2) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection (1) to be seriously misleading under the standard set forth in s. 679.5061:

(a) The financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within 4 months after, the new debtor becomes bound under s. 679.2031(4); and

(b) The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than 4 months after the new debtor becomes bound under s. 679.2031(4) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.

(3) This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under s. 679.5071(1).

History.—s. 6, ch. 2001-198.

F.S. 679.508 on Google Scholar

F.S. 679.508 on Casetext

Amendments to 679.508

Arrestable Offenses / Crimes under Fla. Stat. 679.508

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 679.508.

Annotations, Discussions, Cases:

Cases from cite.case.law:

In SUMMIT STAFFING POLK COUNTY, INC., 305 B.R. 347 (Bankr. M.D. Fla. 2003)

. . . Section 679.508, Florida Statutes, governs the effectiveness of a financing statement if a new debtor . . . (See Comment to § 679.508). Section 679.508 provides as follows: 679.508. . . . Pursuant to § 679.508(2), the financing statement disclosing Summit Staffing as the debtor continues . . . the name provided does not make the financing statement seriously misleading. (4) For purposes of s. 679.508 . . .