The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 625
ACCOUNTING, INVESTMENTS, AND DEPOSITS BY INSURERS

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F.S. 625.77

625.77 Unlawful to sell equity security not owned; delayed delivery.—

(1) It is unlawful for any person reporting securities under s. 625.75 to sell, directly or indirectly, any equity security of a company named in such report if the person or the person’s principal:

(a) Does not own the security sold;

(b) If owning the security, does not deliver it against such sale within 20 days thereafter; or

(2) No person shall be deemed to have violated this section if he or she proves that, notwithstanding the exercise of good faith, he or she was unable to make such delivery or deposit within such time.

History.—s. 1, ch. 65-18; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 137, 143, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 202, ch. 97-102.

F.S. 625.77 on Google Scholar

F.S. 625.77 on Casetext

Amendments to 625.77

Arrestable Offenses / Crimes under Fla. Stat. 625.77

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

S625.77 - FRAUD - SELL UNOWNED EQUITY SECURITY - M: S

Annotations, Discussions, Cases:

Cases from cite.case.law:

KESSENICH, v. RAYNOR, s, 120 F. Supp. 2d 242 (E.D.N.Y. 2000)

. . . Meanwhile, McLaughlin disbursed $269,625.77 from the $400,00.00 Escrow (the “$269,-625.77 Loan”) without . . . $350,000.00 Construction Loan, the $98,000.00 Construction Loan, and the $269,625.77 Loan (the “Second ($717,-625.77 . . .