The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

View Entire Chapter

F.S. 679.1041

679.1041 Control of deposit account.—

(1) A secured party has control of a deposit account if:

(a) The secured party is the bank with which the deposit account is maintained;

(b) The debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or

(2) A secured party that has satisfied subsection (1) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.

History.—s. 1, ch. 2001-198.

F.S. 679.1041 on Google Scholar

F.S. 679.1041 on Casetext

Amendments to 679.1041

Arrestable Offenses / Crimes under Fla. Stat. 679.1041

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 679.1041.

Annotations, Discussions, Cases:

Cases from cite.case.law:

IN RE TUSCANY ENERGY, LLC, v. P. A. LLC,, 581 B.R. 681 (Bankr. S.D. Fla. 2018)

. . . . § 679.1041. The account that was the source of the retainer was not at Armstrong Bank. . . .

IN RE TUSCANY ENERGY, LLC,, 561 B.R. 910 (Bankr. S.D. Fla. 2016)

. . . Florida Statutes § 679.1041. . . .

In J. LATINI N. v. G. J., 334 B.R. 338 (Bankr. D. Mass. 2005)

. . . The collateral is deposit accounts .... and the secured party has control under § 679.1041, § 679.1051 . . .

In BROWN, v. UMLIC VP, LLC,, 311 B.R. 282 (Bankr. M.D. Fla. 2004)

. . . paper, -investment property, or letter-of-credit rights, and the secured party has control under s. 679.1041 . . . Section 679.1041 defines control of a deposit account. 679.1041. . . . taxes and insurance at the appropriate time, and 3) would be the customer of the bank pursuant to § 679.1041 . . .