§ 679.2051, Fla. Stat. · Part II. EFFECTIVENESS OF SECURITY AGREEMENT;ATTACHMENT OF SECURITY INTEREST;RIGHTS OF PARTIES TO SECURITY AGREEMENT
Use or disposition of collateral permissible.
Text — 2026 Florida Statutes
(1) A security interest is not invalid or fraudulent against creditors solely because:
(a) The debtor has the right or ability to:
1. Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;
2. Collect, compromise, enforce, or otherwise deal with collateral;
3. Accept the return of collateral or make repossessions; or
4. Use, commingle, or dispose of proceeds; or
(b) The secured party fails to require the debtor to account for proceeds or replace collateral.
(2) This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.
Notes and commentary — not statutory text
History
s. 2, ch. 2001-198.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0679/0679.html
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- 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.