§ 655.56, Fla. Stat. · Chapter 655. FINANCIAL INSTITUTIONS GENERALLY
Collection of fines, interest, or premiums on loans made by financial institutions.
Text — 2026 Florida Statutes
No fines, interest, or premiums paid on the following loans made by any financial institution shall be deemed usurious, and the same may be collected as debts of like amount are now collected by law in this state and according to the terms and stipulations of the agreement between the financial institution and the borrower:
(1) Loans secured by a first lien on real estate.
(2) Loans secured by savings accounts to the extent of the withdrawal value thereof.
(3) Loans secured by the pledge of those loans described in subsections (1) and (2) and by the pledge of investments of a type in which the financial institution is authorized to invest, provided the loans and investments so pledged shall be subject to all restrictions and requirements which would be applicable were the financial institution to invest directly in such loans or investments.
(4) Loans secured by a wrap-around mortgage, inferior to the first mortgage, in which the mortgagee is contractually obligated to make the payments required under the first mortgage.
Notes and commentary — not statutory text
History
s. 42, ch. 92-303.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0655/0655.html
- Text hash
- sha256 74d716177e4f6fc0e6f7193f948b4e276e5c601276b76d7424f584b83e44875f
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.