The 2023 Florida Statutes (including Special Session C)
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Appellant-Bank also contends that it would have been guilty of a crime if it had sold or disposed of the subject warrants. It further argues that Bryant, as evidenced by his extensive trading in the market during the period of time the warrants were pledged, exercised control over the subject property, and such conduct is consistent with Section 679.311, Florida Statutes, F.S.A., of the Uniform Commercial Code. To the foregoing arguments, appellee responds that Section 679.207 of the Uniform Commercial Code clearly provides that a secured party may use collateral for the purpose of preserving same and that the provisions of Section 818.04, Florida Statutes, F.S.A., cited by appellant only applies where the pledgee converts the collateral to his own use. Bryant in addition urges that under the facts here considered, it is undisputed that the Bank held a number of powers of attorney signed by him authorizing it to dispose of the collateral held by it when necessary, and such instruments exempted the Bank from liability under Section 818.04.. . . secured party may use collateral for the purpose of preserving same and that the provisions of Section 818.04 . . . collateral held by it when necessary, and such instruments exempted the Bank from liability under Section 818.04 . . . Section 818.04, Florida Statutes, F.S.A., which prohibits the sale of collateral prior to debt being . . .
. . . amounts of $5,290.42 ($4,457.07 tax plus $833.35 interest) for 1962 and $7,267.66 ($6,449.62 tax plus $818.04 . . .
. . . amounts of $5,290.42 ($4,457.01 tax plus $833.35 interest) for 1962 and $7,267.66 ($6,449.62 tax plus $818.04 . . .
. . . It paid an additional $818.04 which was assessed by the State for bankrupt’s failure to account as agent . . .