The 2023 Florida Statutes (including Special Session C)

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS

Chapter 516
CONSUMER FINANCE

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F.S. 516.01

516.01 Definitions.—As used in this chapter, the term:

(1) “Consumer finance borrower” or “borrower” means a person who has incurred either direct or contingent liability to repay a consumer finance loan.

(2) “Consumer finance loan” means a loan of money, credit, goods, or choses in action, including, except as otherwise specifically indicated, provision of a line of credit, in an amount or to a value of $25,000 or less for which the lender charges, contracts for, collects, or receives interest at a rate greater than 18 percent per annum.

(3) “Commission” means the Financial Services Commission.

(4) “Office” means the Office of Financial Regulation of the commission.

(5) “Interest” means the cost of obtaining a consumer finance loan and includes any profit or advantage of any kind whatsoever that a lender may charge, contract for, collect, receive, or in anywise obtain, including by means of any collateral sale, purchase, or agreement, as a condition for a consumer finance loan. Charges specifically permitted by this chapter, including commissions received for insurance written as permitted by this chapter, shall not be deemed interest.

(6) “License” means a permit issued under this chapter to make and collect loans in accordance with this chapter at a single place of business.

(7) “Licensee” means a person to whom a license is issued.

(8) “Control person” means an individual, partnership, corporation, trust, or other organization that possesses the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise. A person is presumed to control a company if, with respect to a particular company, that person:

(a) Is a director, general partner, or officer exercising executive responsibility or having similar status or functions;

(b) Directly or indirectly may vote 10 percent or more of a class of a voting security or sell or direct the sale of 10 percent or more of a class of voting securities; or

History.—s. 19, ch. 10177, 1925; CGL 4016; s. 6, ch. 20728, 1941; s. 7, ch. 22858, 1945; s. 1, ch. 57-201; ss. 12, 35, ch. 69-106; s. 193, ch. 71-377; s. 189, ch. 77-104; s. 2, ch. 81-318; s. 1, ch. 86-100; ss. 1, 16, 17, ch. 88-342; s. 1, ch. 90-104; s. 4, ch. 91-429; s. 569, ch. 2003-261; s. 24, ch. 2006-213.

F.S. 516.01 on Google Scholar

F.S. 516.01 on Casetext

Amendments to 516.01

Arrestable Offenses / Crimes under Fla. Stat. 516.01

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 516.01.

Annotations, Discussions, Cases:

Cases from cite.case.law:

BETTS, v. ADVANCE AMERICA,, 213 F.R.D. 466 (M.D. Fla. 2003)

. . . . § 516.01(2). . . .

BETTS v. ACE CASH EXPRESS, INC., 827 So. 2d 294 (Fla. Dist. Ct. App. 2002)

. . . Defendants were not licensed to make consumer loans in an amount less than $25,000 in violation of section 516.01 . . .

PETERS, v. GENERAL SERVICE BUREAU, INC., 277 F.3d 1051 (8th Cir. 2002)

. . . . § 25-516.01. . . .

BARNETT RECOVERY CORPORATION, v. AMBURGEY,, 31 Fla. Supp. 2d 43 (Manatee Cty. Ct. 1988)

. . . Defendant further maintains that FS § 516.01(2), does not exclude Plaintiff from FS § 516.31(3). . . . Div 1984) in arguing that the exclusionary provisions of FS § 516.01(2), should not apply. . . . Plaintiff asserts that FS § 516.01(2), excludes Plaintiff from FS § 516.31(3). . . . Only those entities specifically mentioned in FS § 516.01(2), as excluded from FS § 516.31(3), should . . . While Barnett Bank is excluded from FS § 516.31(3), by FS § 516.01(2), its assignee, BARNETT RECOVERY . . .

DEPENDABLE INSURANCE COMPANY v. RILEY,, 6 Fla. Supp. 2d 64 (Fla. Cir. Ct. 1984)

. . . Appellant argues that since Section 516.01(2) Fla. . . . Section 516.01(2), with specificity, excludes certain enumerated businesses from the operation of Chapter . . .

G. H. v., 38 T.C. 340 (T.C. 1962)

. . . erred in disallowing a deduction claimed in the return for medical and dental expense in the amount of $516.01 . . . In their return for the year 1959, petitioners deducted medical expense in the amount of $516.01 computed . . . Petitioners contend they are entitled to deduct the amount of $516.01 here in question under section . . .

PILAFIAN, d b a v. E. GREEN,, 141 So. 2d 341 (Fla. Dist. Ct. App. 1962)

. . . the State of Florida is designated as the licensing official of small loan businesses under Section 516.01 . . .

O. J. GILES v. FAMILY FINANCE SERVICE, INC. a, 155 Fla. 506 (Fla. 1945)

. . . Service, Inc., a corporation licensed to do ‘Small Loan Business’ in the State of Florida under Sections 516.01 . . .

WALLING, v. PEAVY- WILSON LUMBER CO., 49 F. Supp. 846 (W.D. La. 1943)

. . . . § 516.01 et seq., and from then until September 16, 1941, the date upon which it began liquidation, . . .

AMERICAN ROLLING MILL CO. v. THE UNITED STATES, 61 Ct. Cl. 882 (Ct. Cl. 1926)

. . . Amount claimed, 206,405 lbs., @ $0.25_ 516.01 Total_ 5,154. 59 Invoice 11396, dated 2/21/18, and invoice . . .