SB 1666 — Uniform Commercial Code

Section 8.

(3) After receipt of a notification that complies with Page 18 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (3) After receipt of a notification that complies with subsection (2), the account debtor may discharge its obligation by paying in accordance with the notification and may not discharge the obligation by paying a person that formerly had control.

Unless the person complies with the request, the account debtor may Page 19 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 person complies with the request, the account debtor may discharge its obligation by paying a person that formerly had control, even if the account debtor has received a notification under subsection (2).

(2) For a controllable electronic record that evidences a controllable account or controllable payment intangible, the Page 20 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 controllable account or controllable payment intangible, the local law of the controllable electronic record’s jurisdiction governs a matter covered by s.

(d) If paragraphs (a), (b), and (c) do not apply and the rules of the system in which the controllable electronic record Page 21 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 rules of the system in which the controllable electronic record is recorded are readily available for review and expressly provide that the controllable electronic record or the system is governed by the law of a particular jurisdiction, that jurisdiction is the controllable electronic record’s jurisdiction.

Section 669.501, Florida Statutes, is created Pageto 22read: of 155 CODING:

Page 22 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 to669.501 read:Short title.—This part may be cited as “Uniform Commercial Code-Controllable Electronic Records.” Section 12.

669.501 Short title.—This part may be cited as “Uniform Commercial Code-Transitional Provisions.” Section 12.

669.601 Saving clause.—Except as otherwise provided in this part, a transaction validly entered into before July 1, 2025, and the rights, duties, and interests flowing from such transaction remain valid thereafter and may be terminated, completed, consummated, or enforced as required or permitted by law other than the Uniform Commercial Code or, if applicable, by the Uniform Commercial Code as though this act had not taken Page 23 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 the Uniform Commercial Code as though this act had not taken effect.

669.702 Security interest perfected before effective date.— (1) A security interest that is enforceable and perfected Page 24 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (1) A security interest that is enforceable and perfected immediately before July 1, 2025, is a perfected security interest under this act if, on July 1, 2025, the requirements for enforceability and perfection under this section are fully satisfied without further action.

679.2031, as it existed on July 1, Page2025, 25or ofbefore 155the CODING:adjustment date;

and Page 25 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 2025,(3) orBecomes beforeperfected: the adjustment date;

and (3) Becomes perfected:

Section 669.705, Florida Statutes, is created Pageto 26read: of 155 CODING:

Page 26 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 669.705 Priority.— (1) Subject to read:subsections (2) and (3), this section determines the priority of conflicting claims to collateral.

669.705 Priority.— (1) Subject to subsections (2) and (3), this section determines the priority of conflicting claims to collateral.

(3) When the priority rules of chapter 679 as amended by this part do not apply, to the extent the priorities determined by this act modify the priorities established as of July 1, 2025, the priorities of claims to Article 12 property established before July 1, 2025, cease to apply on the Page 27 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 established before July 1, 2025, cease to apply on the adjustment date.

A security procedure may impose an obligation on the receiving Page 28 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 A security procedure may impose an obligation on the receiving bank or the customer and may require the use of algorithms or other codes, identifying words, or numbers, symbols, sounds, biometrics, encryption, callback procedures, or similar security devices.

The bank is not required to follow an instruction that violates an a written agreement with the customer, evidenced by a record, or notice of which is not received at a time and in a manner affording the bank a reasonable opportunity Pageto 29act ofon 155it CODING:before the payment order is accepted.

Page 29 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (3) The commercial reasonableness of a security procedure is a question of law to actbe ondetermined itby beforeconsidering the paymentwishes orderof isthe accepted.customer expressed to the bank;

(3) The commercial reasonableness of a security procedure is a question of law to be determined by considering the wishes of the customer expressed to the bank;

(a) By express written agreement evidenced by a record, the receiving bank may limit the extent to which it is entitled to Page 30 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 receiving bank may limit the extent to which it is entitled to enforce or retain payment of the payment order.

670.208 Misdescription of intermediary bank or beneficiary’s bank.— (2) This subsection applies to a payment order identifying an intermediary bank or the beneficiary’s bank both by name and an identifying number if the name and number identify different Page 31 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 an identifying number if the name and number identify different persons.

and Page 32 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 and (b) Any means not complying is not reasonable unless no significant delay in receipt of the notice resulted from the use of the noncomplying means.

Additional damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank, evidenced by a record, Page 33 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 written agreement of the receiving bank, evidenced by a record, but are not otherwise recoverable.

parties’ power to choose applicable law.— (2) When one of the following provisions of this code Pagespecifies 34the ofapplicable 155law, CODING:that provision governs;

and a Page 34 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 specifiescontrary agreement is effective only to the applicableextent law,permitted thatby provisionthe governs;law (including the conflict-of-laws rules) so specified:

and a contrary agreement is effective only to the extent permitted by the law (including the conflict-of-laws rules) so specified:

(11) “Conspicuous,” with reference to a term, means so Page 35 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (11) “Conspicuous,” with reference to a term, means so written, displayed, or presented that, based on the totality of the circumstances, a reasonable person against which it is to operate ought to have noticed it.

or Page(c) 36The ofperson 155in CODING:control, other than pursuant to s.

Page 36 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (c)677.106(7), Theof persona innegotiable control,electronic otherdocument thanof pursuanttitle. to s.

677.106(7), of a negotiable electronic document of title.

or Pageany 37other oflegal 155or CODING:commercial entity.

The term includes a Page 37 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 anyprotected series, however denominated, of an entity if the protected series is established under law other legalthan the Uniform Commercial Code which limits, or commercialconditionally entity.limits if conditions specified under the law are satisfied, the ability of a creditor of the entity or of any other protected series of the entity to satisfy a claim from assets of the protected series.

The term includes a protected series, however denominated, of an entity if the protected series is established under law other than the Uniform Commercial Code which limits, or conditionally limits if conditions specified under the law are satisfied, the ability of a creditor of the entity or of any other protected series of the entity to satisfy a claim from assets of the protected series.

671.211 Value.—Except as otherwise provided with respect to Page 38 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 671.211 Value.—Except as otherwise provided with respect to negotiable instruments and bank collections as provided in chapter 669 and ss.

Page672.102 39Scope; of 155 CODING:

certain security and other transactions Page 39 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 672.102excluded Scope;from this chapter.— (1) Unless the context otherwise requires, and except as provided in subsection (2), this chapter applies to transactions in goods and, in the case of a hybrid transaction:

certain security and other transactions excluded from this chapter.— (1) Unless the context otherwise requires, and except as provided in subsection (2), this chapter applies to transactions in goods and, in the case of a hybrid transaction:

Page“termination”; 40 of 155 CODING:

“cancellation.”;

“hybrid transaction.”— Page 40 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 “termination”;(1) In this chapter, unless the context clearly requires otherwise, the meaning of the terms requires “contract” and “agreement” is are limited to those contracts and agreements relating to the present or future sale of goods.

“cancellation.”;

“hybrid transaction.”— (1) In this chapter, unless the context clearly requires otherwise, the meaning of the terms requires “contract” and “agreement” is are limited to those contracts and agreements relating to the present or future sale of goods.

PageSection 4140. of 155 CODING:

Subsections (1) and (2) of section 672.201, Page 41 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 SectionFlorida 40.Statutes, are amended to read:

Subsections (1) and (2) of section 672.201, Florida Statutes, are amended to read:

parol or extrinsic evidence.—Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a record writing intended by the parties as a final expression of their agreement with respect to such terms as are included therein may not be contradicted by evidence of any prior agreement or of a contemporaneous oral agreement but may be Pageexplained 42or ofsupplemented: 155 CODING:

Page 42 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 explained(1) By course of dealing or supplemented:usage of trade (s.

(1) By course of dealing or usage of trade (s.

672.209 Modification, rescission, and waiver.— (2) A signed agreement which excludes modification or rescission except by a signed writing or other signed record cannot be otherwise modified or rescinded, but except as between merchants such a requirement on a form supplied by the merchant Page 43 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 merchants such a requirement on a form supplied by the merchant must be separately signed by the other party.

and (c) Does not state any other undertaking or instruction by the person promising or ordering payment to do any act in addition to the payment of money, but the promise or order may Pagecontain: 44 of 155 CODING:

Page 44 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 contain:1.

1.

or (b) the person is represented by an agent or representative who signed the instrument, and the signature is binding on the Page 45 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 who signed the instrument, and the signature is binding on the represented person under s.

PageSection 4651. of 155 CODING:

Part VII of chapter 673, Florida Statutes, Page 46 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 Sectionconsisting 51.of s.

Part VII of chapter 673, Florida Statutes, consisting of s.

675.104 or by a provision in the person’s Pageletter 47 of 155credit, CODING:confirmation, or other undertaking.

The Page 47 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 letterjurisdiction ofwhose credit,law confirmation,is orchosen otherneed undertaking.not bear any relation to the transaction.

The jurisdiction whose law is chosen need not bear any relation to the transaction.

If this chapter governs the liability of an issuer, nominated person, or adviser under subsection (1) or this subsection (2), the relevant undertaking incorporates rules of custom or practice, and there is conflict between this chapter and such rules as applied to that undertaking, such Page 48 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 chapter and such rules as applied to that undertaking, such rules govern except to the extent of any conflict with the nonvariable provisions specified in s.

Page1. 49 of 155 CODING:

To execute or adopt a tangible symbol;

or Page 49 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 1.2.

To execute or adopt a tangible symbol;

or 2.

and (f) Any amendment of the authoritative copy is readily Page 50 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (f) Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.

(5) A power of a person is not shared with another person under paragraph (4)(b) and the person’s power is not exclusive Page 51 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 under paragraph (4)(b) and the person’s power is not exclusive if:

Part VII of chapter 677, Florida Statutes, Pageconsisting 52 of 155s. CODING:

677.701, Florida Statutes, is created and Page 52 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 consistingentitled of“Transitional s.Provisions.” Section 59.

677.701, Florida Statutes, is created and entitled “Transitional Provisions.” Section 59.

An obligation of a person or a share, participation, or other interest in a person or in property or an enterprise of a person, which is, or is of a type, dealt in or traded on financial markets, or which is recognized in any area in which Pageit 53is ofissued 155or CODING:dealt in as a medium for investment;

or Page 53 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 it3. is issued or dealt in as a medium for investment;

or 3.

679.1021(1)(o), is not a security or a financial asset.

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 679.1021(1)(o),(8) isA notcontrollable aaccount, securitycontrollable electronic record, or controllable payment intangible is not a financial asset.asset unless s.

(8) A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless s.

(9) If a person acknowledges that it has or will obtain control on behalf of a purchaser unless the person otherwise agrees, or law other than this section or chapter 679 otherwise Page 55 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 agrees, or law other than this section or chapter 679 otherwise provides, the person does not owe any duty to the purchaser and is not required to confirm the acknowledgment to any other person.

669.501- 669.706, a transaction validly entered into before July 1, 2025, and the rights, duties, and interests flowing from such transaction remain valid thereafter and may be terminated, completed, consummated, or enforced as required or permitted by law other than the Uniform Commercial Code, or if applicable, by the Uniform Commercial Code as though this act had not taken Page 56 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 the Uniform Commercial Code as though this act had not taken effect.

or as winnings in a lottery or other game of chance operated or sponsored by a state, governmental unit of a state, or person licensed or authorized to operate the game by a state or Page 57 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 licensed or authorized to operate the game by a state or governmental unit of a state.

or Page2. 58 of 155 CODING:

To which an account, chattel paper, payment intangible, Page 58 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 2.or promissory note has been sold.

To which an account, chattel paper, payment intangible, or promissory note has been sold.

The predominant purpose of the transaction giving rise to the lease was to give the lessee the right to possession and Pageuse 59 of 155the CODING:goods.

Page 59 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 The term does not include a right to payment arising out of a charter or other contract involving the use or hire of a vessel or a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods.

The term does not include a right to payment arising out of a charter or other contract involving the use or hire of a vessel or a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods.

(dd) “Controllable payment intangible” means a payment intangible evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person Pagethat 60has ofcontrol 155under CODING:s.

669.105 of the controllable electronic Page 60 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 thatrecord. has control under s.

669.105 of the controllable electronic record.

671.201.671.201, but does not include a deposit account or money in an electronic form that cannot be subjected to control under s.

The term does not include a deposit account, a central bank digital currency, or money in an electronic form that cannot be subjected to control under s.

(mmm)(iii) “Payment intangible” means a general intangible under which the account debtor’s principal obligation is a Pagemonetary 61obligation. of 155 CODING:

The term includes a controllable payment intangible.

Page 61 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 monetary(rrr)(nnn) obligation.“Proposal” means a record signed authenticated by a secured party which includes the terms on which the secured party is willing to accept collateral in full or partial satisfaction of the obligation it secures pursuant to ss.

The term includes a controllable payment intangible.

(rrr)(nnn) “Proposal” means a record signed authenticated by a secured party which includes the terms on which the secured party is willing to accept collateral in full or partial satisfaction of the obligation it secures pursuant to ss.

Page“Control,” 62s. of 155 CODING:

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25 20251666c2 “Control,” s.

“Customer,”Page s.62 of 155 CODING:

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2025 CS for SB 1666 577-02477-25 20251666c1 “Customer,” s.

Page“Sale,” 63s. of 155 CODING:

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25 20251666c2 “Sale,” s.

“SecuritiesPage intermediary,”63 s.of 155 CODING:

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2025 CS for SB 1666 577-02477-25 20251666c1 “Securities intermediary,” s.

679.1051 Control of electronic chattel paper.— (1) A purchaser has control of an authoritative electronic Page 64 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 679.1051 Control of electronic chattel paper.— (1) A purchaser has control of an authoritative electronic copy of a record evidencing chattel paper if a system employed for evidencing the assignment of interests in the chattel paper reliably establishes the purchaser as the person to which the authoritative electronic copy was assigned.

(a) Enables the purchaser to readily identify each electronic copy as either an authoritative copy or a Page 65 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (a) Enables the purchaser to readily identify each electronic copy as either an authoritative copy or a nonauthoritative copy;

or Page2. 66 of 155 CODING:

Is the transferor to the purchaser of an interest in the chattel paper.

Page 66 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 2.(6) If a purchaser has the powers specified in subparagraphs (3)(c)1.

Is the transferor to the purchaser of an interest in the chattel paper.

(6) If a purchaser has the powers specified in subparagraphs (3)(c)1.

(d) Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the Page 67 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (d) Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party;

(b) The electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded enables the person readily to identify itself in any way, including by name, identifying Pagenumber, 68cryptographic ofkey, 155office, CODING:or account number, as having the powers under paragraph (a).

Page 68 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 number,(2) cryptographicSubject key,to office,subsection or(3), accounta number,power asis havingexclusive the powers under paragraphsub-subparagraphs (a).(1)(a)2.a.

(2) Subject to subsection (3), a power is exclusive under sub-subparagraphs (1)(a)2.a.

or (b) Obtains control of the electronic money after having Pageacknowledged 69that it will obtain control of 155the CODING:electronic money on behalf of the person.

Page 69 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 acknowledgedSection that71. it will obtain control of the electronic money on behalf of the person.

Section 71.

formal requisites.— (2) Except as otherwise provided in subsections (3) through Page(10), 70a ofsecurity 155interest CODING:is enforceable against the debtor and third parties with respect to the collateral only if:

Page 70 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (10),(a) aValue securityhas interestbeen isgiven; enforceable against the debtor and third parties with respect to the collateral only if:

(a) Value has been given;

(10) A security interest in an account consisting of a right to payment of a monetary obligation for the sale of real Pageproperty 71that is the debtor’s homestead under the laws of 155this CODING:state is not enforceable unless:

Page 71 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 property(a) thatThe isdescription of the debtor’saccount homesteadin underthe security agreement conspicuously states that the lawscollateral includes the debtor’s right to payment of thisa statemonetary isobligation notfor enforceablethe unless:sale of real property;

(a) The description of the account in the security agreement conspicuously states that the collateral includes the debtor’s right to payment of a monetary obligation for the sale of real property;

or Page(b) 72A ofcommercial 155tort CODING:claim.

(3) Subsection (2) does not prevent a security interest Page 72 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (b)from Aattaching: commercial tort claim.

(3) Subsection (2) does not prevent a security interest from attaching:

Page(a) 73A secured party having control of 155a CODING:deposit account under s.

679.1041(1)(b) shall send to the bank with which the Page 73 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (a)deposit Aaccount securedis partymaintained havinga controlsigned ofrecord aan depositauthenticated accountstatement underthat s.releases the bank from any further obligation to comply with instructions originated by the secured party;

679.1041(1)(b) shall send to the bank with which the deposit account is maintained a signed record an authenticated statement that releases the bank from any further obligation to comply with instructions originated by the secured party;

Take appropriate action to enable the debtor or the debtor’s designated custodian to make copies of or revisions to the authoritative copy which add or change an identified assignee of the authoritative copy without the consent of the Page 74 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 the authoritative copy which add or change an identified assignee of the authoritative copy without the consent of the secured party;

669.105 of a controllable electronic record, other than a buyer of a controllable account or controllable payment intangible evidenced by the controllable electronic record, shall transfer control of the controllable electronic record to the debtor or a Pageperson 75designated by the debtor of 155an CODING:electronic document shall:

1.

Give control of the electronic document to the debtor or Page 75 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 personits designated bycustodian; the debtor of an electronic document shall:

1.

Give control of the electronic document to the debtor or its designated custodian;

request regarding list of Pagecollateral 76or statement of 155account.— CODING:(1) In this section, the term:

Page 76 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 collateral(a) or“Request” statementmeans a record of account.—a (1)type Indescribed thisin section,paragraph the(b), term:paragraph (c), or paragraph (d).

(a) “Request” means a record of a type described in paragraph (b), paragraph (c), or paragraph (d).

(f) “Person” means a person or entity that is or was a secured party or otherwise claims or has claimed an interest in Pagethe 77collateral. of 155 CODING:

(2) Subject to subsections (3)-(6) (3), (4), (5), and (6), Page 77 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 thea collateral.secured party, other than a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor, shall comply with a request within 14 days after receipt:

(2) Subject to subsections (3)-(6) (3), (4), (5), and (6), a secured party, other than a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor, shall comply with a request within 14 days after receipt:

(5) A person who receives a request for an accounting or a request regarding a statement of account, claims no interest in the obligations when the request is received, and claimed an interest in the obligations at an earlier time shall comply with the request within 14 days after receipt by sending to the Page 78 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 interest in the obligations at an earlier time shall comply with the request within 14 days after receipt by sending to the debtor a signed an authenticated record:

Page679.3011 79Law governing perfection and priority of 155security CODING:interests.—Except as otherwise provided in ss.

679.1091, Page 79 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 679.3011679.3031, Law679.3041, 679.3051, and 679.3061, and 679.3062, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interests.—Exceptinterest as otherwise provided in ss.collateral:

679.1091, 679.3031, 679.3041, 679.3051, and 679.3061, and 679.3062, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:

Page(5) 80The law of 155this CODING:state governs:

(a) The perfection of a security interest in goods that are Page 80 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (5)or Theare lawto ofbecome fixtures in this state governs:by the filing of a fixture filing.

(a) The perfection of a security interest in goods that are or are to become fixtures in this state by the filing of a fixture filing.

679.3062 Law governing perfection and priority of security interests in chattel paper.— (1) Except as provided in subsection (4), if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic Page 81 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative tangible copy, the local law of the chattel paper’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in the chattel paper, even if the transaction does not bear any relation to the chattel paper’s jurisdiction.

(d) If paragraphs (a), (b), and (c) do not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly Page 82 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that the chattel paper or the system is governed by the law of a particular jurisdiction, that jurisdiction is the chattel paper’s jurisdiction.

669.107(3) and (4) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security Pageinterest 83in ofa 155controllable CODING:account or controllable payment intangible evidenced by the controllable electronic record.

Page 83 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 interest(2) inThe alocal controllablelaw accountof orthe controllablejurisdiction paymentin intangiblewhich evidenced by the controllabledebtor electronicis record.located governs:

(2) The local law of the jurisdiction in which the debtor is located governs:

(e) In certificated securities, documents, goods, or Pageinstruments 84which ofis 155perfected CODING:without filing, control, or possession under s.

679.3121(5), (6), or (7);

Page 84 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 instruments(f) whichIn iscollateral perfectedin withoutthe filing,secured control,party’s or possession under s.

679.3121(5), (6), or (7);

(f) In collateral in the secured party’s possession under s.

(a) A security interest in a deposit account may be perfected only by control under s.

679.3141.

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (a)(b) AAnd securityexcept interestas inotherwise aprovided depositin account may be perfected only by control under s.

679.3141.

(b) And except as otherwise provided in s.

(6) A perfected security interest in a negotiable document or goods in possession of a bailee, other than one that has Page 86 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (6) A 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:

A secured party may perfect Pagea 87security interest in certificated securities by taking delivery of 155the CODING:certificated securities under s.

678.3011.

Page 87 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 a(3) securityWith interestrespect into collateral other than certificated securities and goods covered by takinga deliverydocument, a secured party takes possession of collateral in the certificatedpossession securitiesof undera s.person other than the debtor, the secured party, or a lessee of the collateral from the debtor in the ordinary course of the debtor’s business, when:

678.3011.

(3) With respect to collateral other than certificated securities and goods covered by a document, a secured party takes possession of collateral in the possession of a person other than the debtor, the secured party, or a lessee of the collateral from the debtor in the ordinary course of the debtor’s business, when:

679.3141 Perfection by control.— (1) A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be Pageperfected 88by control of 155the CODING:collateral under s.

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25 20251666c2 perfected by control of the collateral under s.

679.1061, or s.Page 88 of 155 CODING:

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2025 CS for SB 1666 577-02477-25 20251666c1 s.

679.3152 Perfection by possession and control of chattel paper.— (1) A secured party may perfect a security interest in Page 89 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 paper.— (1) A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel paper.

(6) A security interest in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, letter-of-credit rights, or Page 90 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 accounts, controllable electronic records, controllable payment intangibles, deposit accounts, letter-of-credit rights, or investment property which is perfected under the law of the chattel paper’s jurisdiction, the controllable electronic record’s jurisdiction, the bank’s jurisdiction, the issuer’s jurisdiction, a nominated person’s jurisdiction, the securities intermediary’s jurisdiction, or the commodity intermediary’s jurisdiction, as applicable, remains perfected until the earlier of:

(2) Except as otherwise provided in subsection (5), a buyer, other than a secured party, of tangible chattel paper, Page 91 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (2) Except as otherwise provided in subsection (5), a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments, tangible documents, or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.

677.106, obtains control of each Pageauthoritative 92electronic ofcopy. 155 CODING:

(10) A buyer of a controllable electronic record takes free Page 92 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 authoritativeof a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and obtains control of the controllable electronic copy.record.

(10) A buyer of a controllable electronic record takes free of a security interest if, without knowledge of the security interest and before it is perfected, the buyer gives value and obtains control of the controllable electronic record.

(4) Except as otherwise provided in subsection (5), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures Pageadvances 93made ofafter 155the CODING:earlier of:

(a) The time the secured party acquires knowledge of the Page 93 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 advancesbuyer’s madepurchase; after the earlier of:

(a) The time the secured party acquires knowledge of the buyer’s purchase;

(b) The purchase-money secured party sends a signed an authenticated notification to the holder of the conflicting Page 94 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (b) The purchase-money secured party sends a signed an authenticated notification to the holder of the conflicting security interest;

679.3251 Priority of security interest in controllable account, controllable electronic record, and controllable Page 95 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 679.3251 Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible.—A security interest in a controllable account, controllable electronic record, or controllable payment intangible held by a secured party having control of the account, electronic record, or payment intangible has priority over a conflicting security interest held by a secured party that does not have control.

(2) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed other than merely as proceeds of inventory subject to a security interest if the purchaser gives new value, and takes possession of each authoritative copy of the record evidencing the chattel Page 96 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 interest if the purchaser gives new value, and takes possession of each authoritative copy of the record evidencing the chattel paper, and or obtains control under s.

priority of interests in financial assets and security entitlements and protection against assertion of claim under chapters 669 and chapter 678.— (1) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a Page 97 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security, or a qualifying purchase of a controllable account, controllable electronic record, or controllable payment intangible.

(3) A transferee of electronic money takes the money free of a security interest if the transferee obtains control of the money without acting in collusion with the debtor in violating Page 98 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 of a security interest if the transferee obtains control of the money without acting in collusion with the debtor in violating the rights of the secured party.

and (b) Any other defense or claim of the account debtor against the assignor which accrues before the account debtor Pagereceives 99a notification of 155the CODING:assignment signed authenticated by the assignor or the assignee.

Page 99 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 receivesSection a99. notification of the assignment signed authenticated by the assignor or the assignee.

Section 99.

or (c) At the option of an account debtor, if the notification notifies the account debtor to make less than the full amount of any installment or other periodic payment to the assignee, even Pageif: 100 of 155 CODING:

1.

Only a portion of the account, chattel paper, or payment Page 100 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 if:intangible has been assigned to that assignee;

1.

Only a portion of the account, chattel paper, or payment intangible has been assigned to that assignee;

or (b) Provides that the assignment or transfer or the creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, Pageor 101remedy ofunder 155the CODING:account, chattel paper, payment intangible, or promissory note.

Page 101 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 or(7) remedySubject underto thesubsections account,(8) chatteland paper,(13) paymentsubsection intangible,(8), an account debtor may not waive or promissoryvary note.its option under paragraph (2)(c).

(7) Subject to subsections (8) and (13) subsection (8), an account debtor may not waive or vary its option under paragraph (2)(c).

(2) By signing authenticating or becoming bound as a debtor by a security agreement, a debtor or new debtor authorizes the Page 102 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (2) By signing authenticating or becoming bound as a debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:

(a) Except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise Page 103 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;

679.604 Procedure if security agreement covers real property or fixtures.— (4) A secured party that removes collateral shall promptly reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury Page 104 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury caused by the removal.

(2) A secured party owes a duty based on its status as a secured party to a person if, at the time the secured party obtains control of collateral that is a controllable account, controllable electronic record, or controllable payment Page 105 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 obtains control of collateral that is a controllable account, controllable electronic record, or controllable payment intangible or at the time the security interest attaches to the collateral, whichever is later:

The satisfaction of obligations secured by any subordinate security interest in or other lien on the collateral subject to the security interest or agricultural lien under which the collection or enforcement is made if the secured party Page 106 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 subject to the security interest or agricultural lien under which the collection or enforcement is made if the secured party receives a signed an authenticated demand for proceeds before distribution of the proceeds is completed.

If authorized in a signed an authenticated record, the court in the interpleader action may award reasonable attorney attorney’s fees and costs to the prevailing party in a dispute between the debtor and a holder of a security interest or lien which claims an interest in the remaining interplead proceeds, but only if the debtor challenges the Page 107 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 interest or lien which claims an interest in the remaining interplead proceeds, but only if the debtor challenges the validity, priority, or extent of said security interest or lien.

Any other person from whom the secured party has received, before the notification date, a signed an authenticated notification of a claim of an interest in the Pagecollateral; 108 of 155 CODING:

2.

Any other secured party or lienholder that, 10 days Page 108 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 collateral;before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:

2.

Any other secured party or lienholder that, 10 days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:

(6) For purposes of subsection (3), the secured party may Pagesend 109the ofsigned 155authenticated CODING:notification as follows:

(a) If the collateral is other than consumer goods, to the Page 109 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 senddebtor at the address in the financing statement, unless the secured party has received a signed an authenticated record from the debtor notifying the secured party of a different address for such notification purposes or the secured party has actual knowledge of the address of the debtor’s chief executive office or principal residence, as follows:applicable, at the time the notification is sent;

(a) If the collateral is other than consumer goods, to the debtor at the address in the financing statement, unless the secured party has received a signed an authenticated record from the debtor notifying the secured party of a different address for such notification purposes or the secured party has actual knowledge of the address of the debtor’s chief executive office or principal residence, as applicable, at the time the notification is sent;

679.613 Contents and form of notification before Pagedisposition 110 of 155collateral; CODING:

general.—Except in a consumer-goods transaction, the following rules apply:

Page 110 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 disposition(5)(a) The following form of collateral;notification and the form appearing in s.

general.—Except in a consumer-goods transaction, the following rules apply:

(5)(a) The following form of notification and the form appearing in s.

A sale could include a Pagelease 111or ofa 155license. CODING:

Item 4.

You are entitled to an accounting of the unpaid Page 111 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 indebtedness secured by the property that we intend to sell or, as applicable, [or lease or a license.

Item 4.

You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell or, as applicable, [or lease or license.

(3)(a) The following form of notification, when completed Pagein 112accordance ofwith 155the CODING:instructions set forth in paragraph (b), provides sufficient information:

Page 112 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 in...(Name accordanceand withaddress theof instructionssecured setparty)... forth in paragraph (b), provides sufficient information:

...(Name and address of secured party)...

If we get more money than you owe, you Pagewill 113get ofthe 155extra CODING:money, unless we must pay it to someone else.

Item 4.

You can get the property back at any time before we Page 113 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 willsell getit by paying us the extrafull money,amount unlessyou weowe, must(not payjust itthe topast someonedue else.payments), including our expenses.

Item 4.

You can get the property back at any time before we sell it by paying us the full amount you owe, (not just the past due payments), including our expenses.

Page2. 114 of 155 CODING:

Include and complete either Item 1, if the notification relates to a public disposition of the collateral, or Item 2, if Page 114 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 2.the notification relates to a private disposition of the collateral.

Include and complete either Item 1, if the notification relates to a public disposition of the collateral, or Item 2, if the notification relates to a private disposition of the collateral.

If Item 10 does not apply, insert “None” after “agreement:.” PageSection 115110. of 155 CODING:

Subsection (1) of section 679.615, Florida Statutes, is amended to read:

Page 115 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 Section679.615 110.Application of proceeds of disposition;

Subsection (1) of section 679.615, Florida Statutes, is amended to read:

679.615 Application of proceeds of disposition;

Section 111.

Subsections (1), (2), and (3) of section 679.616, Florida Statutes, are amended to read:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 Section679.616 111.Explanation of calculation of surplus or deficiency.— (1) In this section, the term:

Subsections (1), (2), and (3) of section 679.616, Florida Statutes, are amended to read:

679.616 Explanation of calculation of surplus or deficiency.— (1) In this section, the term:

Before or when the secured party accounts to the debtor and pays any surplus or first makes written demand in a record on the consumer obligor after the disposition for payment of the Page 117 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 and pays any surplus or first makes written demand in a record on the consumer obligor after the disposition for payment of the deficiency;

(d) The amount, in the aggregate or by type, and types of expenses, including expenses of retaking, holding, preparing for disposition, processing, and disposing of the collateral, and attorney’s fees secured by the collateral which are known to the Pagesecured 118party ofand 155relate CODING:to the current disposition;

(e) The amount, in the aggregate or by type, and types of Page 118 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 securedcredits, partyincluding andrebates relateof interest or credit service charges, to which the currentobligor disposition;is known to be entitled and which are not reflected in the amount in paragraph (a);

(e) The amount, in the aggregate or by type, and types of credits, including rebates of interest or credit service charges, to which the obligor is known to be entitled and which are not reflected in the amount in paragraph (a);

(b) The secured party does not receive, within the time set forth in subsection (4), a notification of objection to the Page 119 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (b) The secured party does not receive, within the time set forth in subsection (4), a notification of objection to the proposal signed authenticated by:

Page1. 120 of 155 CODING:

Sends to the debtor after default a proposal that is unconditional or subject only to a condition that collateral not Page 120 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 1.in the possession of the secured party be preserved or maintained;

Sends to the debtor after default a proposal that is unconditional or subject only to a condition that collateral not in the possession of the secured party be preserved or maintained;

(b) Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security Page 121 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (b) Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:

Subsections (1) and (5) of section 679.625, Florida Statutes, are amended, and subsections (3), (6), and (7) Pageof 122that ofsection 155are CODING:republished, to read:

679.625 Remedies for failure to comply with article.— Page 122 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 of(1) If it is established that sectiona aresecured republished,party tois read:not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions.

679.625 Remedies for failure to comply with article.— (1) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions.

Page(b) 123Fails ofto 155comply CODING:with s.

679.209;

(c) Files a record that the person is not entitled to file Page 123 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (b)under Fails to comply with s.

679.209;

(c) Files a record that the person is not entitled to file under s.

liability of secondary obligor.— (1) Subject to subsection (6), unless a secured party knows that a person is a debtor or obligor, knows the identity of the Page 124 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (1) Subject to subsection (6), unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person:

and (b) The secured party knows that the information in subparagraph (2)(a)1., subparagraph (2)(a)2., or subparagraph (2)(a)3., relating to the person is not provided by the collateral, a record attached to or logically associated with Page 125 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (2)(a)3., relating to the person is not provided by the collateral, a record attached to or logically associated with the collateral, or the system in which the collateral is recorded.

669.501-669.706, a transaction validly entered into before July 1, 2025, and the rights,rights duties, and interests flowing from such transaction remain valid thereafter and may be terminated, completed, consummated, or enforced as required or permitted by law other than the Uniform Commercial Code or, if applicable, by the Uniform Commercial Code as though this act had not taken effect.

(2) In a hybrid lease, both of the following apply:

(a) If the lease-of-goods aspects do not predominate:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (2)1. In a hybrid lease, both of the following apply:

(a) If the lease-of-goods aspects do not predominate:

1.

(3) The following definitions in other chapters of this code apply to this chapter:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (3)(a) The“Account,” followings. definitions in other chapters of this code apply to this chapter:

(a) “Account,” s.

or (b) There is a record writing, signed by the party against whom enforcement is sought or by that party’s authorized agent, sufficient to indicate that a lease contract has been made between the parties and to describe the goods leased and the Page 128 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 sufficient to indicate that a lease contract has been made between the parties and to describe the goods leased and the lease term.

and (2) By evidence of consistent additional terms unless the Pagecourt 129finds the record writing to have been intended also as a complete and exclusive statement of 155the CODING:terms of the agreement.

Page 129 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 courtSection finds126. the record writing to have been intended also as a complete and exclusive statement of the terms of the agreement.

Section 126.

680.601, Florida Statutes, is created and Pageentitled 130“Transitional ofProvisions.” 155Section CODING:130.

Section 680.601, Florida Statutes, is created Page 130 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 entitledto “Transitionalread: Provisions.” Section 130.

Section 680.601, Florida Statutes, is created to read:

Pagenotation 131on ofcertificate; 155 CODING:

recording of lien.— (2) No lien for purchase money or as security for a debt in Page 131 of 155 CODING:

Florida Senate - 2025 CS for CSSB 1666 577-02477-25 20251666c1 the form of a security agreement, retain title contract, conditional bill of sale, chattel mortgage, or other similar instrument or any other nonpossessory lien, including a lien for SBchild 1666support, 595-03372-25upon 20251666c2a notationmotor onvehicle certificate;or mobile home upon which a Florida certificate of title has been issued shall be enforceable in any of the courts of this state against creditors or subsequent purchasers for a valuable consideration and without notice, unless a sworn notice of such lien has been filed in the department and such lien has been noted upon the certificate of title of the motor vehicle or mobile home.

recording of lien.— (2) No lien for purchase money or as security for a debt in the form of a security agreement, retain title contract, conditional bill of sale, chattel mortgage, or other similar instrument or any other nonpossessory lien, including a lien for child support, upon a motor vehicle or mobile home upon which a Florida certificate of title has been issued shall be enforceable in any of the courts of this state against creditors or subsequent purchasers for a valuable consideration and without notice, unless a sworn notice of such lien has been filed in the department and such lien has been noted upon the certificate of title of the motor vehicle or mobile home.

(a) The date of the lien if a security agreement, retain title contract, conditional bill of sale, chattel mortgage, or other similar instrument was executed prior to the filing of the Page 132 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 title contract, conditional bill of sale, chattel mortgage, or other similar instrument was executed prior to the filing of the notice of lien;

Page(a) 133“Agreement” ofas 155defined CODING:in s.

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Florida Senate - 2025 CS for CS for SB 1666 595-03372-25 20251666c2 (a) “Agreement” as defined in s.

671.201Page s.133 of 155 CODING:

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Florida Senate - 2025 CS for SB 1666 577-02477-25 20251666c1 671.201 s.

Any person who claims entitlement to an exemption under this section bears the burden of proving such entitlement in any proceeding Pagebrought 134under ofthis 155chapter. CODING:

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Florida Senate - 2025 CS for CS for SB 1666 595-03372-25 20251666c2 brought under this chapter.

however,Page such134 transactionsof are155 subjectCODING: to s.

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Florida Senate - 2025 CS for SB 1666 577-02477-25 20251666c1 however, such transactions are subject to s.

Section 136.

Paragraph (g) of subsection (2) of section 563.022, Florida Statutes, is amended to read:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 Section563.022 136.Relations between beer distributors and manufacturers.— (2) DEFINITIONS.—In construing this section, unless the context otherwise requires, the word, phrase, or term:

Paragraph (g) of subsection (2) of section 563.022, Florida Statutes, is amended to read:

563.022 Relations between beer distributors and manufacturers.— (2) DEFINITIONS.—In construing this section, unless the context otherwise requires, the word, phrase, or term:

679.330 are satisfied, the rights and defenses of a holder in Pagedue 136course, a holder to which a negotiable document of 155title CODING:has been duly negotiated, or a purchaser, respectively.

Delivery, Page 136 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 duepossession, course,and aindorsement holderare not required to whichobtain aor negotiableexercise documentany of titlethe hasrights beenunder dulythis negotiated,paragraph. or a purchaser, respectively.

Delivery, possession, and indorsement are not required to obtain or exercise any of the rights under this paragraph.

(2) The law of this state, excluding its law regarding comity and conflict of laws, governs all aspects, including Page 137 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (2) The law of this state, excluding its law regarding comity and conflict of laws, governs all aspects, including without limitation the validity and effect, of any contract relating to an extension of credit made by a branch or office in this state of a deposit or lending institution, including a contract otherwise covered by s.

(c) Relating to any transaction for personal, family, or household purposes, unless such contract, agreement, or Page 138 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (c) Relating to any transaction for personal, family, or household purposes, unless such contract, agreement, or undertaking concerns a trust at least one trustee of which resides or transacts business as a trustee in this state, in which case this section applies;

Page(a) 139An ofexpress 155condition CODING:to payment;

(b) That the promise or order is subject to or governed by Page 139 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (a)another Anwriting; express condition to payment;

(b) That the promise or order is subject to or governed by another writing;

For the purpose of incorporating the amendment made by this act to section 673.1041, Florida Statutes, in a reference thereto, subsection (2) of section 673.1151, Florida PageStatutes, 140is ofreenacted 155to CODING:read:

673.1151 Incomplete instrument.— Page 140 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 Statutes,(2) Subject to subsection (3), if an incomplete instrument is reenactedan toinstrument read:under s.

673.1151 Incomplete instrument.— (2) Subject to subsection (3), if an incomplete instrument is an instrument under s.

Page“Anomalous 141indorsement,” ofs. 155 CODING:

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Florida Senate - 2025 CS for CS for SB 1666 595-03372-25 20251666c2 “Anomalous indorsement,” s.

“Cashier’sPage check,”141 s.of 155 CODING:

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Florida Senate - 2025 CS for SB 1666 577-02477-25 20251666c1 “Cashier’s check,” s.

Page“Traveler’s 142check,” ofs. 155 CODING:

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Florida Senate - 2025 CS for CS for SB 1666 595-03372-25 20251666c2 “Traveler’s check,” s.

SectionPage 145.142 of 155 CODING:

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Florida Senate - 2025 CS for SB 1666 577-02477-25 20251666c1 Section 145.

672.103 Definitions and index of definitions.— Page(3) 143The offollowing 155definitions CODING:in other chapters apply to this chapter:

Page 143 of 155 CODING:

Florida Senate - 2025 CS for CS for SB 1666 595-03372-25577-02477-25 20251666c220251666c1 (3)“Check,” Thes. following definitions in other chapters apply to this chapter:

“Check,” s.