Florida § 625.77 Unlawful to sell equity security not owned; delayed delivery

Florida Statutes

§ 625.77 — Unlawful to sell equity security not owned; delayed delivery

Florida § 625.77

TitleXXXVII

Ch. 625ACCOUNTING, INVESTMENTS, AND DEPOSITS BY INSURERS

This text of Florida § 625.77 (Unlawful to sell equity security not owned; delayed delivery) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 625.77 (2026).

Text

(1)It is unlawful for any person reporting securities under s. 625.75 to sell, directly or indirectly, any equity security of a company named in such report if the person or the person’s principal:

(a)Does not own the security sold;

(b)If owning the security, does not deliver it against such sale within 20 days thereafter; or (c) Does not within 5 days after such sale deposit it in the mails or other usual channels of transportation.

(2)No person shall be deemed to have violated this section if he or she proves that, notwithstanding the exercise of good faith, he or she was unable to make such delivery or deposit within such time.

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(1) It is unlawful for any person reporting securities under s. 625.75 to sell, directly or indirectly, any equity security of a company named in such report if the person or the person’s principal: (a) Does not own the security sold; (b) If owning the security, does not deliver it against such sale within 20 days thereafter; or (c) Does not within 5 days after such sale deposit it in the mails or other usual channels of transportation.

(2) No person shall be deemed to have violated this section if he or she proves that, notwithstanding the exercise of good faith, he or she was unable to make such delivery or deposit within such time.

Legislative History

s. 1, ch. 65-18; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 137, 143, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 202, ch. 97-102.