The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

View Entire Chapter

F.S. 679.1061

679.1061 Control of investment property.—

(1) A person has control of a certificated security, uncertificated security, or security entitlement as provided in s. 678.1061.

(2) A secured party has control of a commodity contract if:

(a) The secured party is the commodity intermediary with which the commodity contract is carried; or

(b) The commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.

(3) A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.

History.—s. 1, ch. 2001-198.

F.S. 679.1061 on Google Scholar

F.S. 679.1061 on Casetext

Amendments to 679.1061

Arrestable Offenses / Crimes under Fla. Stat. 679.1061

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 679.1061.

Annotations, Discussions, Cases:

Cases from cite.case.law:

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

. . . collateral is deposit accounts .... and the secured party has control under § 679.1041, § 679.1051, § 679.1061 . . .

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

. . . investment property, or letter-of-credit rights, and the secured party has control under s. 679.1041, s. 679.1061 . . . , s. 679.1061, or s. 679.1071 pursuant to the debtor’s security agreement. . . .