eLaws of Florida

  SECTION 679.3121. Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing or transfer of possession.  


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  • 1(1) 2A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing.
    19(2) 20Except as otherwise provided in s. 26679.3151(3) 27and (4) for proceeds:
    31(a) 32A security interest in a deposit account may be perfected only by control under s. 47679.314148.
    49(b) 50And except as otherwise provided in s. 57679.3081(4), 58a security interest in a letter-of-credit right may be perfected only by control under s. 73679.314174.
    75(c) 76A security interest in money may be perfected only by the secured party’s taking possession under s. 93679.313194.
    95(3) 96While goods are in the possession of a bailee that has issued a negotiable document covering the goods:
    114(a) 115A security interest in the goods may be perfected by perfecting a security interest in the document; and
    133(b) 134A security interest perfected in the document has priority over any security interest that becomes perfected in the goods by another method during that time.
    159(4) 160While goods are in the possession of a bailee that has issued a nonnegotiable document covering the goods, a security interest in the goods may be perfected by:
    188(a) 189Issuance of a document in the name of the secured party;
    200(b) 201The bailee’s receipt of notification of the secured party’s interest; or
    212(c) 213Filing as to the goods.
    218(5) 219A security interest in certificated securities, negotiable documents, or instruments is perfected without filing or the taking of possession or control for a period of 20 days from the time it attaches to the extent that it arises for new value given under an authenticated security agreement.
    266(6) 267A perfected security interest in a negotiable document or goods in possession of a bailee, other than one that has issued a negotiable document for the goods, remains perfected for 20 days without filing if the secured party makes available to the debtor the goods or documents representing the goods for the purpose of:
    321(a) 322Ultimate sale or exchange; or
    327(b) 328Loading, unloading, storing, shipping, transshipping, manufacturing, processing, or otherwise dealing with them in a manner preliminary to their sale or exchange.
    349(7) 350A perfected security interest in a certificated security or instrument remains perfected for 20 days without filing if the secured party delivers the security certificate or instrument to the debtor for the purpose of:
    384(a) 385Ultimate sale or exchange; or
    390(b) 391Presentation, collection, enforcement, renewal, or registration of transfer.
    399(8) 400After the 20-day period specified in subsection (5), subsection (6), or subsection (7) expires, perfection depends upon compliance with this chapter.
History.-s. 3, ch. 2001-198; s. 64, ch. 2010-131.

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