§ 679.605 — Unknown debtor or secondary obligor

Florida § 679.605

• Jurisdiction: Florida
• Title: XXXIX
• Ch. 679: UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

Text

(1) Except as provided in subsection (2), a secured party does not owe a duty based on its status as secured party: (a) To a person who is a debtor or obligor, unless the secured party knows: 1. That the person is a debtor or obligor; 2. The identity of the person; and 3. How to communicate with the person; or (b) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows: 1. That the person is a debtor; and 2. The identity of the person.

(2) A secured party owes a duty based on its status as a secured party to a person if, at the time the secured party obtains control of collateral that is a controllable account, controllable electronic record, or controllable payment intangible or at the time the security interest attaches to the collateral, whichever is later: (a) The person is a debtor or obligor; and (b) The secured party knows that the information relating to the person in subparagraph (1)(a)1., subparagraph (1)(a)2., or subparagraph (1)(a)3. is not provided by the collateral, a record attached to or logically associated with the collateral, or the system in which the collateral is recorded.

Legislative History

s. 7, ch. 2001-198; s. 107, ch. 2025-92.