Bill Text: FL S0978 | 2023 | Regular Session | Enrolled

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Bill Title: Secured Transactions

Spectrum: Bipartisan Bill

Status: (Passed) 2023-06-22 - Chapter No. 2023-266 [S0978 Detail]

Download: Florida-2023-S0978-Enrolled.html

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       ENROLLED
       2023 Legislature                                   CS for SB 978
       
       
       
       
       
       
                                                              2023978er
    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 an effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Subsection (5) of section 679.1081, Florida
   11  Statutes, is amended to read:
   12         679.1081 Sufficiency of description.—
   13         (5) A description only by type of collateral defined in
   14  this chapter is an insufficient description of:
   15         (a) A commercial tort claim;
   16         (b) In a consumer transaction, consumer goods, a security
   17  entitlement, a securities account, or a commodity account; or
   18         (c) An account consisting of a right to payment of a
   19  monetary obligation for the sale of real property that is the
   20  debtor’s homestead under the laws of this state; or
   21         (d) Accounts and other entitlements set forth in ss.
   22  222.13-222.16, s. 222.18, and ss. 222.201-222.22.
   23         Section 2. This act shall take effect upon becoming a law.