687.0303
“Line of credit” defined.
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687.0303 “Line of credit” defined.—
(1) The term “line of credit,” whenever used in this chapter, means an arrangement under which one or more loans or advances of money may be made available to a debtor in one transaction or a series of related transactions.
(2) The Legislature hereby declares that, as a matter of law, “line of credit,” as such term is defined in this section, is deemed to have been included in and governed by the provisions of this chapter as it existed prior to, on, and subsequent to July 1, 1979.
History.—ss. 2, 3, ch. 80-310.
Notes of Decisions
Cited in 2
cases, 1990–1995 · leading case: Credicorp, Inc. v. State, Department of Banking & Finance
Credicorp, Inc. v. State, Department of Banking & Finance (1995)
“” Nothing in this mailing informs the consumer that this line of credit has any restrictions or is not really a line of credit as defined in section 687.0303, Florida Statutes. Similarly, in its solicitations, Cred-icorp fails to mention that the Gold Card is actually a catalog…”
American Seafood, Inc. v. First Union National Bank of Florida (1990)
“See also §§ 687.0303 and .0304, Fla.Stat. (1989).”
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