Florida Statute 687.0303 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 687
INTEREST AND USURY; LENDING PRACTICES

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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.

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Amendments to 687.0303

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Cases Citing Statute 687.0303

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Credicorp, Inc. v. State, Dep't of Banking & Fin., 659 So. 2d 376 (Fla. Dist. Ct. App. 1995).

Published | District Court of Appeal of Florida | 1995 Fla. App. LEXIS 7535, 20 Fla. L. Weekly Fed. D 1639

...In particular, a loan broker also includes any person who arranges or attempts to arrange a line of credit or a credit card, or who holds himself out as a loan broker. Credicorp denies any involvement in lines of credit, as that term is defined in section 687.0303....

...fication that the targeted consumer has been pre-approved for a “Gold Card with a $10,000 line of credit.” 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....

...r printed solicitation of business which is distributed and made available generally to the public clearly sets forth the cash price and other terms of sales to be made through such medium, may be made as provided in this section. . Supra, note 4. . Section 687.0303 provides: (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....

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