The Florida Senate

678.305  Staleness as notice of adverse claims.--An act or event that creates a right to immediate performance of the principal obligation represented by a certificated security or sets a date on or after which a certificated security is to be presented or surrendered for redemption or exchange does not itself constitute any notice of adverse claims except in the case of a transfer:

(1)  After 1 year from any date set for presentment or surrender for redemption or exchange; or

(2)  After 6 months from any date set for payment of money against presentation or surrender of the security if funds are available for payment on that date.

History.--s. 1, ch. 65-254; s. 1, ch. 87-275.

Note.--s. 8-305, U.C.C.; supersedes ss. 674.54(2), 674.55.