§ 658.491, Fla. Stat. · Chapter 658. BANKS AND TRUST COMPANIES
Commercial loans by financial institutions.
Text — 2026 Florida Statutes
(1) In making collateralized commercial loans secured by accounts, contract rights, or other receivables, any bank may charge and collect audit charges in addition to interest. All such audit charges shall be excluded from interest in determining compliance with chapter 687, relating to interest and usury.
(2) For purposes of this section, “audit charges” means all charges payable to the bank or any of its affiliates for auditing, verifying, or otherwise evaluating accounts, contract rights, or other receivables prior to or during the term of the collateralized commercial loan. The amount of the charges shall be determined by written agreement between the borrower and the bank or any such affiliate. The parties may, without limitation, establish audit charges as a percentage of the total amount of receivables outstanding from time to time.
(3) Nothing contained in this section shall:
(a) Prohibit a bank from collecting charges other than audit charges; or
(b) Render other charges “interest” for purposes of determining compliance with chapter 687.
Notes and commentary — not statutory text
History
ss. 1, 2, ch. 90-41; s. 1, ch. 91-307; s. 1, 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=0600-0699/0658/0658.html
- Text hash
- sha256 88ef8859b68ccf8e7ff039691984d64bb3f6fd156f44973b787c8cd2dc2f3a19
- 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
- composed from the Legislature's structured HTML (one source of text; no PDF extraction); a second, independent reading of the same bytes agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
The Florida Statutes
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.