The Florida Senate

CS/SB 644: UCC/Investment Securities

GENERAL BILL by Judiciary ; Silver ; (CO-INTRODUCERS) Dudley

UCC/Investment Securities; revises provisions re Uniform Commercial Code--Investment Securities; provides rules for determining whether certain obligations & interests are securities or financial assets; provides for acquisition of security or financial assets or interests; provides for control of certain securities; revises certain provisions re issue & issuer; provides rights & duties of issuer re registered owners; provides for issuer's liens, etc. Amends FS.

Expand All Collapse All

• Bill History

  Date	Chamber	Action
  1/9/1998	Senate	• Prefiled
  1/23/1998	Senate	• Referred to Judiciary; Commerce and Economic Opportunities
  2/9/1998	Senate	• On Committee agenda-- Judiciary, 02/18/98, 9:00 am, Room-309C
  2/18/1998	Senate	• Comm. Action: CS by Judiciary
  2/23/1998	Senate	• Now in Commerce and Economic Opportunities
  3/3/1998	Senate	• Introduced, referred to Judiciary; Commerce and Economic Opportunities -SJ 00044; On Committee agenda-- Judiciary, 02/18/98, 9:00 am, Room-309C; Comm. Action: CS by Judiciary -SJ 00008; CS read first time on 03/03/98 -SJ 00101; Now in Commerce and Economic Opportunities -SJ 00008; On Committee agenda-- Commerce and Economic Opportunities, 03/04/98, 9:00 am, Room-EL
  3/4/1998	Senate	• Comm. Action:-Favorable by Commerce and Economic Opportunities -SJ 00119; Placed on Calendar -SJ 00119
  3/25/1998	Senate	• Placed on Special Order Calendar -SJ 00303; Read second time -SJ 00279
  4/1/1998	Senate	• House Bill substituted -SJ 00330; Laid on Table, Iden./Sim./Compare Bill(s) passed, refer to HB 1083 (Ch. 98-11)

  Top of SectionTop of Page

• CS/SB 644, Committee Substitute 1 (Current Bill Version) Posted 2/25/1998 at 7:35 AM

  Bill Text:	Web Page | PDF

  Analyses:	Commerce and Economic Opportunities (Post-Meeting) 3/4/1998 (pdf) Judiciary (Post-Meeting) 2/18/1998 (pdf)

  Related Bills (1)

  Bill Number	Subject	Filed By	Relationship	Last Action and Location
  H 1083 (e1)		Safley	Similar	Last Action: 4/14/1998 Became Law without Governor's Signature; Chapter No. 98-11 -HJ 00559 Location:

  Citations - Statutes (146)

  Citation	Catchline	Location in Bill Location In Bill Help
  610.011	Short title.
  610.021	Definitions.
  610.031	Registration in the name of a fiduciary.
  610.041	Assignment by a fiduciary.
  610.051	Evidence of appointment or incumbency.
  610.061	Adverse claims.
  610.071	Nonliability of corporation or transfer agent.
  610.081	Nonliability of third persons.
  610.091	Territorial application.
  610.101	Tax obligations.
  610.111	Uniformity of interpretation.
  671.105	Territorial application of the code; parties' power to choose applicable law.
  671.206	Statute of frauds for kinds of personal property not otherwise covered.
  671.304	Laws not repealed; precedence where code provisions in conflict with other laws; certain statutory remedies retained.
  674.104	Definitions and index of definitions.
  675.114	Issuer's duty and privilege to honor; right to reimbursement.
  678.1011
  678.102	Definitions and index of definitions.
  678.1021
  678.103	Issuer's lien.
  678.1031
  678.104	Effect of overissue; "overissue."
  678.1041
  678.105	Certificated securities negotiable; statements and instructions not negotiable; presumptions.
  678.1051
  678.106	Applicability.
  678.1061
  678.107	Securities transferable; action for price.
  678.1071
  678.108	Registration of pledge and release of uncertificated securities.
  678.1081
  678.1091
  678.1101
  678.1111
  678.1121
  678.1131
  678.1141
  678.1151
  678.1161
  678.201	"Issuer."
  678.2011
  678.202	Issuer's responsibility and defenses; notice of defect or defense.
  678.2021
  678.203	Staleness as notice of defects or defenses.
  678.2031
  678.204	Effect of issuer's restrictions on transfer.
  678.2041
  678.205	Effect of unauthorized signature on certificated security or initial transaction statement.
  678.2051
  678.206	Completion or alteration of certificated security or initial transaction statement.
  678.2061
  678.207	Rights and duties of issuer with respect to registered owners and registered pledgees.
  678.2071
  678.208	Effect of signature of authenticating trustee, registrar, or transfer agent.
  678.2081
  678.2091
  678.2101
  678.301	Rights acquired by purchaser.
  678.3011
  678.302	"Bona fide purchaser"; "adverse claim"; title acquired by bona fide purchaser.
  678.3021
  678.303	"Broker."
  678.3031
  678.304	Notice to purchaser of adverse claims.
  678.3041
  678.305	Staleness as notice of adverse claims.
  678.3051
  678.306	Warranties on presentment and transfer of certificated securities; warranties of originators of instructions.
  678.3061
  678.307	Effect of delivery without indorsement; right to compel indorsement.
  678.3071
  678.308	Indorsements; instructions.
  678.309	Effect of indorsement without delivery.
  678.310	Indorsement of certificated security in bearer form.
  678.311	Effect of unauthorized indorsement or instruction.
  678.312	Effect of guaranteeing signature, indorsement, or instruction.
  678.313	When transfer to purchaser occurs; financial intermediary as bona fide purchaser; "financial intermediary."
  678.314	Duty to transfer, when completed.
  678.315	Action against transferee based upon wrongful transfer.
  678.316	Purchaser's right to requisites for registration of transfer, pledge, or release on books.
  678.317	Creditors' rights.
  678.318	No conversion by good faith conduct.
  678.319	Statute of frauds.
  678.320	Transfer or pledge within central depository system.
  678.321	Enforceability, attachment, perfection, and termination of security interests.
  678.401	Duty of issuer to register transfer, pledge, or release.
  678.4011
  678.402	Assurance that indorsements and instructions are effective.
  678.4021
  678.403	Issuer's duty as to adverse claims.
  678.4031
  678.404	Liability and nonliability for registration.
  678.4041
  678.405	Lost, destroyed, and stolen certificated securities.
  678.4051
  678.406	Duty of authenticating trustee, transfer agent, or registrar.
  678.4061
  678.407	Exchangeability of securities.
  678.4071
  678.408	Statements of uncertificated securities.
  678.5011
  678.5021
  678.5031
  678.5041
  678.5051
  678.5061
  678.5071
  678.5081
  678.5091
  678.5101
  678.5111
  679.103	Perfection of security interests in multiple state transactions.
  679.105	Definitions and index of definitions.
  679.106	Definitions
  679.115
  679.116
  679.203	Enforceability of security interest; proceeds, formal requisites.
  679.301	Persons who take priority over unperfected security interests; right of "lien creditor."
  679.302	When filing is required to perfect security interest; security interests to which filing provisions of this chapter do not apply.
  679.303	When security interest is perfected; continuity of perfection.
  679.304	Perfection of security interest in instruments, documents, and goods covered by documents; perfection by permissive filing; temporary perfection without filing or transfer of possession.
  679.305	When possession by secured party perfects security interest without filing.
  679.306	"Proceeds"; secured party's rights on disposition of collateral.
  679.309	Protection of purchasers of instruments, documents, and securities.
  679.312	Priorities among conflicting security interests in the same collateral.
  680.1031	Definitions and index of definitions.
  680.1041	Leases subject to other statutes.
  680.303	Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; assignment of rights.
  680.304	Subsequent lease of goods by lessor.
  680.307	Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.
  680.309	Lessor's and lessee's rights when goods become fixtures.
  680.32
  680.501	Default
  680.503	Modification or impairment of rights and remedies.
  680.507	Proof of market rent; time and place.
  680.508	Lessee's remedies.
  680.516	Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over.
  680.518	Cover; substitute goods.
  680.519	Lessee's damages for nondelivery, repudiation, default, or breach of warranty in regard to accepted goods.
  680.523	Lessor's remedies.
  680.524	Lessor's right to identify goods to lease contract.
  680.525	Lessor's right to possession of goods.
  680.527	Lessor's rights to dispose of goods.
  680.528	Lessor's damages for nonacceptance or repudiation.
  680.529	Lessor's action for the rent.
  680.532	Lessor recovery for loss of residual interest.

  Top of SectionTop of Page

• SB 644, Original Filed Version Posted 1/12/1998 at 1:58 PM

  Bill Text:	Web Page | PDF

  Analyses:	None

  Citations - Statutes (146)

  Citation	Catchline	Location in Bill Location In Bill Help
  610.011	Short title.
  610.021	Definitions.
  610.031	Registration in the name of a fiduciary.
  610.041	Assignment by a fiduciary.
  610.051	Evidence of appointment or incumbency.
  610.061	Adverse claims.
  610.071	Nonliability of corporation or transfer agent.
  610.081	Nonliability of third persons.
  610.091	Territorial application.
  610.101	Tax obligations.
  610.111	Uniformity of interpretation.
  671.105	Territorial application of the code; parties' power to choose applicable law.
  671.206	Statute of frauds for kinds of personal property not otherwise covered.
  671.304	Laws not repealed; precedence where code provisions in conflict with other laws; certain statutory remedies retained.
  674.104	Definitions and index of definitions.
  675.114	Issuer's duty and privilege to honor; right to reimbursement.
  678.1011
  678.102	Definitions and index of definitions.
  678.1021
  678.103	Issuer's lien.
  678.1031
  678.104	Effect of overissue; "overissue."
  678.1041
  678.105	Certificated securities negotiable; statements and instructions not negotiable; presumptions.
  678.1051
  678.106	Applicability.
  678.1061
  678.107	Securities transferable; action for price.
  678.1071
  678.108	Registration of pledge and release of uncertificated securities.
  678.1081
  678.1091
  678.1101
  678.1111
  678.1121
  678.1131
  678.1141
  678.1151
  678.1161
  678.201	"Issuer."
  678.2011
  678.202	Issuer's responsibility and defenses; notice of defect or defense.
  678.2021
  678.203	Staleness as notice of defects or defenses.
  678.2031
  678.204	Effect of issuer's restrictions on transfer.
  678.2041
  678.205	Effect of unauthorized signature on certificated security or initial transaction statement.
  678.2051
  678.206	Completion or alteration of certificated security or initial transaction statement.
  678.2061
  678.207	Rights and duties of issuer with respect to registered owners and registered pledgees.
  678.2071
  678.208	Effect of signature of authenticating trustee, registrar, or transfer agent.
  678.2081
  678.2091
  678.2101
  678.301	Rights acquired by purchaser.
  678.3011
  678.302	"Bona fide purchaser"; "adverse claim"; title acquired by bona fide purchaser.
  678.3021
  678.303	"Broker."
  678.3031
  678.304	Notice to purchaser of adverse claims.
  678.3041
  678.305	Staleness as notice of adverse claims.
  678.3051
  678.306	Warranties on presentment and transfer of certificated securities; warranties of originators of instructions.
  678.3061
  678.307	Effect of delivery without indorsement; right to compel indorsement.
  678.3071
  678.308	Indorsements; instructions.
  678.309	Effect of indorsement without delivery.
  678.310	Indorsement of certificated security in bearer form.
  678.311	Effect of unauthorized indorsement or instruction.
  678.312	Effect of guaranteeing signature, indorsement, or instruction.
  678.313	When transfer to purchaser occurs; financial intermediary as bona fide purchaser; "financial intermediary."
  678.314	Duty to transfer, when completed.
  678.315	Action against transferee based upon wrongful transfer.
  678.316	Purchaser's right to requisites for registration of transfer, pledge, or release on books.
  678.317	Creditors' rights.
  678.318	No conversion by good faith conduct.
  678.319	Statute of frauds.
  678.320	Transfer or pledge within central depository system.
  678.321	Enforceability, attachment, perfection, and termination of security interests.
  678.401	Duty of issuer to register transfer, pledge, or release.
  678.4011
  678.402	Assurance that indorsements and instructions are effective.
  678.4021
  678.403	Issuer's duty as to adverse claims.
  678.4031
  678.404	Liability and nonliability for registration.
  678.4041
  678.405	Lost, destroyed, and stolen certificated securities.
  678.4051
  678.406	Duty of authenticating trustee, transfer agent, or registrar.
  678.4061
  678.407	Exchangeability of securities.
  678.4071
  678.408	Statements of uncertificated securities.
  678.5011
  678.5021
  678.5031
  678.5041
  678.5051
  678.5061
  678.5071
  678.5081
  678.5091
  678.5101
  678.5111
  679.103	Perfection of security interests in multiple state transactions.
  679.105	Definitions and index of definitions.
  679.106	Definitions
  679.115
  679.116
  679.203	Enforceability of security interest; proceeds, formal requisites.
  679.301	Persons who take priority over unperfected security interests; right of "lien creditor."
  679.302	When filing is required to perfect security interest; security interests to which filing provisions of this chapter do not apply.
  679.303	When security interest is perfected; continuity of perfection.
  679.304	Perfection of security interest in instruments, documents, and goods covered by documents; perfection by permissive filing; temporary perfection without filing or transfer of possession.
  679.305	When possession by secured party perfects security interest without filing.
  679.306	"Proceeds"; secured party's rights on disposition of collateral.
  679.309	Protection of purchasers of instruments, documents, and securities.
  679.312	Priorities among conflicting security interests in the same collateral.
  680.1031	Definitions and index of definitions.
  680.1041	Leases subject to other statutes.
  680.303	Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; assignment of rights.
  680.304	Subsequent lease of goods by lessor.
  680.307	Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.
  680.309	Lessor's and lessee's rights when goods become fixtures.
  680.32
  680.501	Default
  680.503	Modification or impairment of rights and remedies.
  680.507	Proof of market rent; time and place.
  680.508	Lessee's remedies.
  680.516	Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over.
  680.518	Cover; substitute goods.
  680.519	Lessee's damages for nondelivery, repudiation, default, or breach of warranty in regard to accepted goods.
  680.523	Lessor's remedies.
  680.524	Lessor's right to identify goods to lease contract.
  680.525	Lessor's right to possession of goods.
  680.527	Lessor's rights to dispose of goods.
  680.528	Lessor's damages for nonacceptance or repudiation.
  680.529	Lessor's action for the rent.
  680.532	Lessor recovery for loss of residual interest.

  Top of SectionTop of Page