City of Tamarac v. State, Department of Banking & Finance, Division of Securities & Investor Protection

District Court of Appeal of Florida

City of Tamarac v. State, Department of Banking & Finance, Division of Securities & Investor Protection

711 So. 2d 638, 1998 Fla. App. LEXIS 8839, 1998 WL 281291

CourtDistrict Court of Appeal of Florida

DecidedJune 3, 1998

DocketNo. 97-0017

StatusPublished

This text of 711 So. 2d 638 (City of Tamarac v. State, Department of Banking & Finance, Division of Securities & Investor Protection) is published on Counsel Stack Legal Research, covering District Court of Appeal of Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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City of Tamarac v. State, Department of Banking & Finance, Division of Securities & Investor Protection, 711 So. 2d 638, 1998 Fla. App. LEXIS 8839, 1998 WL 281291 (Fla. Ct. App. 1998).

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Opinion

PER CURIAM.

We affirm the hearing officer’s order limiting Appellants’ recovery against the Securities Guaranty Fund to $10,000 per claimant. Fla. Stat. § 517.141 (1989). Appellants filed multiple claims in excess of $10,000 for losses that arose out of the same transaction, conduct, or occurrence. We apply a 1992 amendment to section 517.141 retroactively to aid in clarifying the legislative intent that recovery on multiple claims against the fluid which arise out of the same transaction, conduct, or occurrence, is limited to $10,000 per claimant. Fla. Stat. § 517.141(4)(Supp.l992); see also In re: First Park Equities, Inc., Administrative Proceeding No. 823-S-1/88 (Fla.Dep’t.Bank.Fin. May 3, 1988); In re Michelin & Co., Administrative Proceeding No. 1471-S-3/91 (Fla.Dep’t.Bank.Fin. October 9, 1991).

STONE, C.J., and GUNTHER and SHAHOOD, JJ., concur.

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PER CURIAM.

We affirm the hearing officer’s order limiting Appellants’ recovery against the Securities Guaranty Fund to $10,000 per claimant. Fla. Stat. § 517.141 (1989). Appellants filed multiple claims in excess of $10,000 for losses that arose out of the same transaction, conduct, or occurrence. We apply a 1992 amendment to section 517.141 retroactively to aid in clarifying the legislative intent that recovery on multiple claims against the fluid which arise out of the same transaction, conduct, or occurrence, is limited to $10,000 per claimant. Fla. Stat. § 517.141(4)(Supp.l992); see also In re: First Park Equities, Inc., Administrative Proceeding No. 823-S-1/88 (Fla.Dep’t.Bank.Fin. May 3, 1988); In re Michelin & Co., Administrative Proceeding No. 1471-S-3/91 (Fla.Dep’t.Bank.Fin. October 9, 1991).

STONE, C.J., and GUNTHER and SHAHOOD, JJ., concur.

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711 So. 2d 638, 1998 Fla. App. LEXIS 8839, 1998 WL 281291, Counsel Stack Legal Research, https://law.counselstack.com/opinion/city-of-tamarac-v-state-department-of-banking-finance-division-of-fladistctapp-1998.

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