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The Florida Senate

2007 Florida Statutes

Section 494.0019, Florida Statutes 2007

494.0019  Liability in case of unlawful transaction.--

(1)  If a mortgage transaction is made in violation of any provision of ss. 494.001-494.0077, the person making the transaction and every licensee, director, or officer who participated in making the transaction are jointly and severally liable to every party to the transaction in an action for damages incurred by the party or parties.

(2)  A person is not liable under this section upon a showing that such person's licensees, officers, and directors who participated in making the transaction, if any, acted in good faith and without knowledge and, with the exercise of due diligence, could not have known of the act committed in violation of ss. 494.001-494.0077.

History.--ss. 10, 50, ch. 91-245; s. 4, ch. 91-429; s. 210, ch. 92-303.