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. 679.626

679.626 Action in which deficiency or surplus is in issue.—In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply:

(1) A secured party need not prove compliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party’s compliance in issue.

(2) If the secured party’s compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this part.

(3) Except as otherwise provided in s. 679.628, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, reasonable expenses, and, to the extent provided for by agreement and not prohibited by law, attorney’s fees exceeds the greater of:

(a) The proceeds of the collection, enforcement, disposition, or acceptance; or

(b) The amount of proceeds that would have been realized had the noncomplying secured party proceeded in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance.

(4) For purposes of paragraph (3)(b), the amount of proceeds that would have been realized is equal to the sum of the secured obligation, expenses, and attorney’s fees unless the secured party proves that the amount is less than that sum.

(5) If a deficiency or surplus is calculated under s. 679.615(6), the debtor or obligor has the burden of establishing that the amount of proceeds of the disposition is significantly below the range of prices that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.

History.—s. 7, ch. 2001-198.

F.S. 679.626 on Google Scholar

F.S. 679.626 on Casetext

Amendments to 679.626

Arrestable Offenses / Crimes under Fla. Stat. 679.626

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 679.626.

Annotations, Discussions, Cases:

Cases from cite.case.law:

COMERICA BANK, v. H. MANN, III,, 13 F. Supp. 3d 1262 (N.D. Ga. 2013)

. . . . § 679.626(2); see also Caterpillar, 56 So.3d at 60; Weiner, 482 So.2d at 1364-65; Burley, 976 So.2d . . . Ann. § 679.626(2). . . . Ann. § 679.626(2); Burley, 976 So.2d at 100; Textron Fin. Corp., 630 F.Supp.2d at 1358. . . . Ann. § 679.626(2); Weiner, 482 So.2d at 1364; Burley, 976 So.2d at 100; Textron Fin. . . . Ann. § 679.626 (providing that the deficiency may include “the sum of the secured obligation, reasonable . . .

SOUTHERN DEVELOPERS EARTHMOVING, INC. a R. a k a A. v. CATERPILLAR FINANCIAL SERVICES CORPORATION,, 56 So. 3d 56 (Fla. Dist. Ct. App. 2011)

. . . See § 679.626(2); see also Weiner, 482 So.2d at 1364-65; Burley, 976 So.2d at 100. . . . because section 679.625(4) specifically provides that “[a] debtor whose deficiency is eliminated under s. 679.626 . . .

TEXTRON FINANCIAL CORPORATION, v. LENTINE MARINE INC. F. A., 630 F. Supp. 2d 1352 (S.D. Fla. 2009)

. . . .” § 679.626(2), Fla. Stat.; Burley, 976 So.2d at 100. . . . Under § 679.626, Florida Statutes commercial reasonableness need merely be “placed in issue” for the . . . establish commercial unreasonableness, and Plaintiff cites no authority suggesting that Florida Statutes § 679.626 . . . 90 S.Ct. 1598, and Florida law further burdens Plaintiff with proving commercial reasonableness. § 679.626 . . .

BURLEY, v. GELCO CORPORATION, d b a G. E., 976 So. 2d 97 (Fla. Dist. Ct. App. 2008)

. . . .” § 679.626(2), Fla. Stat. (2005). Mr. . . .