The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 670
UNIFORM COMMERCIAL CODE: FUNDS TRANSFERS

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F.S. 670.201

670.201 Security procedure.—“Security procedure” means a procedure established by agreement of a customer and a receiving bank for the purpose of:

(1) Verifying that a payment order or communication amending or canceling a payment order is that of the customer; or

(2) Detecting error in the transmission or the content of the payment order or communication.

A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.

History.—s. 1, ch. 91-70.

F.S. 670.201 on Google Scholar

F.S. 670.201 on Casetext

Amendments to 670.201

Arrestable Offenses / Crimes under Fla. Stat. 670.201

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 670.201.

Annotations, Discussions, Cases:

Cases from cite.case.law:

A. TRUDEL, v. SUNTRUST BANK,, 223 F. Supp. 3d 71 (D.D.C. 2016)

. . . . § 670.201(2); see also id. §§ 670.202, 670.205. . . .

CHAVEZ, v. MERCANTIL COMMERCEBANK, N. A., 701 F.3d 896 (11th Cir. 2012)

. . . . § 670.201. . . . And Florida law defines “Security Procedure” in section 670.201 in language that tracks the text of section . . . Section 670.201 defines a security procedure as “a procedure established by agreement ... for the purpose . . . Stat. § 670.201, and section 5(iii) permits the Bank to use “any other means to verify any Payment Order . . . . § 670.201, and the procedure is commercially reasonable, a bank is absolved of liability for a fraudulent . . . Stat. §§ 670.201 & 670.202(2). . . . We conclude that the parties’ agreed-upon security procedure does not satisfy § 670.201 and consequently . . . Stat. § 670.201. . . . Stat. §§ 670.201 & 670.202. Section 201 defines “security procedure.” . . .