Florida Statute 679.515 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

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679.515 Duration and effectiveness of financing statement; effect of lapsed financing statement.—

(1) Except as otherwise provided in subsections (2), (5), (6), and (7), a filed financing statement is effective for a period of 5 years after the date of filing.

(2) Except as otherwise provided in subsections (5), (6), and (7), an initial financing statement filed in connection with a manufactured-home transaction is effective for a period of 30 years after the date of filing if it indicates that it is filed in connection with a manufactured-home transaction.

(3) The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless, before the lapse, a continuation statement is filed pursuant to subsection (4). Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected without filing. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value.

(4) A continuation statement may be filed only within 6 months before the expiration of the 5-year period specified in subsection (1) or the 30-year period specified in subsection (2), whichever is applicable.

(5) Except as otherwise provided in s. 679.510, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of 5 years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the 5-year period, the financing statement lapses in the same manner as provided in subsection (3), unless, before the lapse, another continuation statement is filed pursuant to subsection (4). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.

(6) If a debtor is a transmitting utility and a filed initial financing statement so indicates, the financing statement is effective until a termination statement is filed.

(7) A record of a mortgage satisfying the requirements of chapter 697 that is effective as a fixture filing under s. 679.5021(3) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.

History.—s. 6, ch. 2001-198; s. 13, ch. 2012-59.

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Amendments to 679.515

Annotations, Discussions, Cases:

Cases Citing Statute 679.515

Total Results: 3 | Sort by: Relevance | Newest First

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Colony Beach & Tennis Club Ass'n v. Colony Lender, LLC (In re Colony Beach & Tennis Club, Inc.), 508 B.R. 468 (Bankr. M.D. Fla. 2014).

Cited 2 times | Published | United States Bankruptcy Court, M.D. Florida

...Lender’s claim to be unsecured upon lapse of the financing statement. In preparing this memorandum opinion, however, the Court has been compelled to reconsider its initial view. The effect of a lapsed financing statement is expressly addressed in Section 679.515(3), Florida Statutes, which provides: “Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected without filing....

...The Court concluded that the record supported conversion to Chapter 7, but ruled that a Chapter 11 trustee should be appointed to pursue a global resolution of the disputes (Doc. No. 301). When the trustee reported that effort had failed, the case was converted. . Confirmation hearing, Debtors’ Exh. 41. . § 679.515(1) (2013), Fla....

...ted until termination of the insolvency proceedings and thereafter for a period of 60 days or until expiration of the 5-year period, whichever occurs later.” With the enactment of Revised Article 9 in 2001, Section 9-515 (as codified in Fla. Stat. § 679.515 ) removed the bankruptcy tolling provision in the prior law....

...Highland Construction Mgt. Services LP v. Wells Fargo N.A., (In re Highland Construction Mgt. Services LP) 497 B.R. 829, 831 (Bankr.E.D.Va.2013). . The trustee also acquires the status of a bona fide purchaser of real property, a status which is outside the scope of § 679.515(3), Fla....

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Charlotte Dev. Partners, LLC v. Tricom Pictures & Prods., Inc., 33 So. 3d 690 (Fla. 4th DCA 2009).

Cited 1 times | Published | Florida 4th District Court of Appeal | 71 U.C.C. Rep. Serv. 2d (West) 182, 2009 Fla. App. LEXIS 18426, 2009 WL 4282939

...eement. No security agreement was produced or authenticated, and appellee, General Electric Capital, did not object. See § 679.2031(2)(c), Fla. Stat. (2008). Also, the parties tried the case as if a proper continuation statement had been filed. See § 679.515(1), (3), (4), Fla....

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Hennessey Capital SE, LLC v. David (In Re Miller Eng'g, Inc.), 398 B.R. 473 (Bankr. S.D. Fla. 2008).

Published | United States Bankruptcy Court, S.D. Florida. | 21 Fla. L. Weekly Fed. B 551, 2008 Bankr. LEXIS 3135

...er its landlord lien as to the Lathe, see Bennett Response to the Orix Motion [DE 44] at ¶ 9. i. Hennessey and Orix Hennessey has priority over Orix's secured interest in the Lathe. Orix's UCC filing statement lapsed on October 10, 2005. Fla. Stat. § 679.515 provides for the duration and effectiveness of financing statements and the effect a lapse in a financing statement has on the priority of secured interests....

...rfected, unless the security interest is perfected without filing. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value. Fla. Stat. § 679.515(3) (2008)....

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