The 2023 Florida Statutes (including Special Session C)

Title XLVI
CRIMES

Chapter 817
FRAUDULENT PRACTICES

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F.S. 817.562

817.562 Fraud involving a security interest.—

(1) As used in this section, the terms “proceeds,” “security agreement,” “security interest,” and “secured party” shall be given the meanings prescribed for them in chapter 679.

(2) A person is guilty of fraud involving a security interest when, having executed a security agreement creating a security interest in personal property, including accounts receivable, which security interest secures a monetary obligation owed to a secured party, and:

(a) Having under the security agreement both the right of sale or other disposition of the property and the duty to account to the secured party for the proceeds of disposition, he or she sells or otherwise disposes of the property and wrongfully and willfully fails to account to the secured party for the proceeds of disposition; or

(b) Having under the security agreement no right of sale or other disposition of the property, he or she knowingly secretes, withholds, or disposes of such property in violation of the security agreement.

(3) Any person who knowingly violates this section shall be punished as follows:

(a) If the value of the property sold, secreted, withheld, or disposed of or the proceeds from the sale or disposition of the property is $300 or more, such person is guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.

(b) If the value of the property sold, secreted, withheld, or disposed of or the proceeds obtained from the sale or disposition of the property is less than $300, such person is guilty of a misdemeanor of the first degree, punishable as provided in s. 775.082 or s. 775.083.

History.—s. 1, ch. 79-113; s. 5, ch. 86-161; s. 196, ch. 91-224; s. 1265, ch. 97-102.

F.S. 817.562 on Google Scholar

F.S. 817.562 on Casetext

Amendments to 817.562

Arrestable Offenses / Crimes under Fla. Stat. 817.562

Level: Degree
Misdemeanor/Felony: First/Second/Third

S817.562 3a - FRAUD - SECURITY INTEREST 300 DOLS OR MORE - F: T

S817.562 3b - FRAUD - SECURITY INTEREST LESS THAN 300 DOLS - M: F

Annotations, Discussions, Cases:

Cases from cite.case.law:

STATE v. MOORE,, 892 So. 2d 1218 (Fla. Dist. Ct. App. 2005)

. . . Jonathon Oscar Moore, with one count of fraud involving a security interest in violation of section 817.562 . . . Because Moore’s actions do not constitute the charged offense as defined by section 817.562(2), we affirm . . . On appeal, the state contends that Moore’s conduct constituted fraud as defined by section 817.562(2) . . . Section 817.562, provides in relevant part, (2) A person is guilty of fraud involving a security interest . . . so as to resolve any inconsistencies in section 817.562. . . . whether the owner of a certificated security may be charged with violating the provisions of section 817.562 . . . that he cannot be prosecuted for illegally disposing of the certificate under the terms of section 817.562 . . . As is clearly expressed in the first part of section 817.562(2)(b), a person may be prosecuted for fraudulently . . . affirm the lower court’s order of dismissal, the majority is essentially construing the terms of section 817.562 . . . The two statutes clearly serve different purposes, and the provisions of 817.562 should be enforced solely . . .

LITTMAN, a v. COMMERCIAL BANK TRUST COMPANY, a, 425 So. 2d 636 (Fla. Dist. Ct. App. 1983)

. . . Compare sections 818.01 and 818.03 with section 817.562 which makes it actionable fraud to sell or otherwise . . . Section 817.562(2), Florida Statutes (1981). Appellants would have us distinguish Rosenberg v. . . .