Bill Text: FL S0406 | 2022 | Regular Session | Enrolled

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Bill Title: Secured Transactions

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Enrolled - Dead) 2022-03-04 - Ordered enrolled [S0406 Detail]

Download: Florida-2022-S0406-Enrolled.html

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       ENROLLED
       2022 Legislature                                          SB 406
       
       
       
       
       
       
                                                              2022406er
    1  
    2         An act relating to secured transactions; amending s.
    3         679.1081, F.S.; providing that a description of
    4         certain accounts and entitlements by a certain type of
    5         collateral is insufficient for the purpose of security
    6         agreements; providing retroactive application;
    7         providing an effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Subsection (5) of section 679.1081, Florida
   12  Statutes, is amended to read:
   13         679.1081 Sufficiency of description.—
   14         (5) A description only by type of collateral defined in
   15  this chapter is an insufficient description of:
   16         (a) A commercial tort claim;
   17         (b) In a consumer transaction, consumer goods, a security
   18  entitlement, a securities account, or a commodity account; or
   19         (c) An account consisting of a right to payment of a
   20  monetary obligation for the sale of real property that is the
   21  debtor’s homestead under the laws of this state; or
   22         (d) Accounts and other entitlements set forth in ss.
   23  222.13-222.16, s. 222.18, and ss. 222.201-222.22.
   24         Section 2. The amendment made by this act to s. 679.1081,
   25  Florida Statutes, is remedial in nature and applies
   26  retroactively.
   27         Section 3. This act shall take effect upon becoming a law.