CS/HB 483

1	A bill to be entitled
2	An act relating to the Uniform Commercial Code;
3	revising and providing provisions of the Uniform
4	Commercial Code relating to secured transactions to
5	conform to the revised Article 9 of the Uniform
6	Commercial Code as prepared by the National Conference
7	of Commissioners on Uniform State Laws; amending s.
8	679.1021, F.S.; revising and providing definitions;
9	amending s. 679.1051, F.S.; revising provisions
10	relating to control of electronic chattel paper;
11	amending s. 679.3071, F.S.; revising provisions
12	relating to the location of debtors; amending s.
13	679.3111, F.S.; making editorial changes; amending s.
14	679.3161, F.S.; providing rules that apply to certain
15	collateral to which a security interest attaches;
16	providing rules relating to certain financing
17	statements; amending s. 679.3171, F.S.; revising
18	provisions relating to interests that take priority
19	over or take free of a security interest or
20	agricultural lien; amending s. 679.326, F.S.; revising
21	priority of security interests created by a new
22	debtor; amending ss. 679.4061 and 679.4081, F.S.;
23	revising application; amending s. 679.5021, F.S.;
24	revising when a record of a mortgage satisfying the
25	requirements of chapter 697 is effective as a filing
26	statement; amending s. 679.5031, F.S.; revising when a
27	financing statement sufficiently provides the name of
28	the debtor; amending s. 679.5071, F.S.; revising the
29	effect of certain events on the effectiveness of a
30	financing statement; amending s. 679.515, F.S.;
31	revising the duration and effectiveness of a financing
32	statement; amending s. 679.516, F.S.; revising
33	instances when filing does not occur with respect to a
34	record that a filing office refuses to accept;
35	amending s. 679.518, F.S.; revising requirements for
36	claims concerning an inaccurate or wrongfully filed
37	record; amending s. 679.607, F.S.; revising recording
38	requirements for the enforcement of mortgages
39	nonjudicially outside this state; creating part VIII
40	of chapter 679, F.S., relating to transition from
41	prior law under the chapter to law under the chapter
42	as amended by this act; creating s. 679.801, F.S.;
43	providing scope of application and limitations;
44	creating s. 679.802, F.S.; providing that security
45	interests perfected under prior law that also satisfy
46	the requirements for perfection under this act remain
47	effective; creating s. 679.803, F.S.; providing that
48	security interests unperfected under prior law but
49	that satisfy the requirements for perfection under
50	this act will become effective July 1, 2013; creating
51	s. 679.804, F.S.; providing when financing statements
52	effective under prior law in a different jurisdiction
53	remain effective; creating s. 679.805, F.S.; requiring
54	the recording of a financing statement in lieu of a
55	continuation statement under certain conditions;
56	providing for the continuation of the effectiveness of
57	a financing statement filed before the effective date
58	of this act under certain conditions; creating s.
59	679.806, F.S.; providing requirements for the
60	amendment of financing statements filed before the
61	effective date of this act; providing requirements for
62	financing statements prior to amendment; creating s.
63	679.807, F.S.; providing person entitled to file
64	initial financing statement or continuation statement;
65	creating s. 679.808, F.S.; providing priority of
66	conflicting claims to collateral; amending s.
67	680.1031, F.S.; conforming a cross-reference;
68	providing a directive to the Division of Statutory
69	Revision; providing an effective date.
70
71	Be It Enacted by the Legislature of the State of Florida:
72
73	Section 1.  Paragraphs (ooo) through (aaaa) of subsection
74	(1) of section 679.1021, Florida Statutes, are redesignated as
75	paragraphs (ppp) through (bbbb), respectively, a new paragraph
76	(ooo) is added to that subsection, and present paragraphs (g),
77	(j), (xx), and (qqq) of subsection (1) of that section are
78	amended to read:
79	679.1021  Definitions and index of definitions.-
80	(1)  In this chapter, the term:
81	(g)  "Authenticate" means:
82	1.  To sign; or
83	2.  To execute or otherwise adopt a symbol, or encrypt or
84	similarly process a record in whole or in part, With the present
85	intent of the authenticating person to identify the person and
86	adopt or accept a record, to attach to or logically associate
87	with the record an electronic sound, symbol, or process.
88	(j)  "Certificate of title" means a certificate of title
89	with respect to which a statute provides for the security
90	interest in question to be indicated on the certificate as a
91	condition or result of the security interest's obtaining
92	priority over the rights of a lien creditor with respect to the
93	collateral. The term includes another record maintained as an
94	alternative to a certificate of title by the governmental unit
95	that issues certificates of title if a statute permits the
96	security interest in question to be indicated on the record as a
97	condition or result of the security interest's obtaining
98	priority over the rights of a lien creditor with respect to the
99	collateral.
100	(xx)  "Jurisdiction of organization," with respect to a
101	registered organization, means the jurisdiction under whose law
102	the organization is formed or organized.
103	(ooo)  "Public organic record" means a record that is
104	available to the public for inspection and that is:
105	1.  A record consisting of the record initially filed with
106	or issued by a state or the United States to form or organize an
107	organization and any record filed with or issued by the state or
108	the United States that amends or restates the initial record;
109	2.  An organic record of a business trust consisting of the
110	record initially filed with a state and any record filed with
111	the state that amends or restates the initial record, if a
112	statute of the state governing business trusts requires that the
113	record be filed with the state; or
114	3.  A record consisting of legislation enacted by the
115	Legislature of a state or the Congress of the United States that
116	forms or organizes an organization, any record amending the
117	legislation, and any record filed with or issued by the state or
118	the United States that amends or restates the name of the
119	organization.
120	(rrr)(qqq)  "Registered organization" means an organization
121	formed or organized solely under the law of a single state or
122	the United States by the filing of a public organic record with,
123	the issuance of a public organic record by, or the enactment of
124	legislation by and as to which the state or the United States
125	must maintain a public record showing the organization to have
126	been organized. The term includes a business trust that is
127	formed or organized under the law of a single state if a statute
128	of the state governing business trusts requires that the
129	business trust's organic record be filed with the state.
130	Section 2.  Section 679.1051, Florida Statutes, is amended
131	to read:
132	679.1051  Control of electronic chattel paper.-
133	(1)  A secured party has control of electronic chattel
134	paper if a system employed for evidencing the transfer of
135	interests in the chattel paper reliably establishes the secured
136	party as the person to which the chattel paper was assigned.
137	(2)  A system satisfies subsection (1), and a secured party
138	has control of electronic chattel paper, if the record or
139	records comprising the chattel paper are created, stored, and
140	assigned in such a manner that:
141	(a)(1)  A single authoritative copy of the record or
142	records exists which is unique, identifiable and, except as
143	otherwise provided in paragraphs (d), (e), and (f) subsections
144	(4), (5), and (6), unalterable;
145	(b)(2)  The authoritative copy identifies the secured party
146	as the assignee of the record or records;
147	(c)(3)  The authoritative copy is communicated to and
148	maintained by the secured party or its designated custodian;
149	(d)(4)  Copies or amendments revisions that add or change
150	an identified assignee of the authoritative copy can be made
151	only with the consent participation of the secured party;
152	(e)(5)  Each copy of the authoritative copy and any copy of
153	a copy is readily identifiable as a copy that is not the
154	authoritative copy; and
155	(f)(6)  Any amendment revision of the authoritative copy is
156	readily identifiable as an authorized or unauthorized revision.
157	Section 3.  Subsection (6) of section 679.3071, Florida
158	Statutes, is amended to read:
159	679.3071  Location of debtor.-
160	(6)  Except as otherwise provided in subsection (9), a
161	registered organization that is organized under the law of the
162	United States and a branch or agency of a bank that is not
163	organized under the law of the United States or a state are
164	located:
165	(a)  In the state that the law of the United States
166	designates, if the law designates a state of location;
167	(b)  In the state that the registered organization, branch,
168	or agency designates, if the law of the United States authorizes
169	the registered organization, branch, or agency to designate its
170	state of location, including by designating its main office,
171	home office, or other comparable office; or
172	(c)  In the District of Columbia, if neither paragraph (a)
173	nor paragraph (b) applies.
174	Section 4.  Paragraph (c) of subsection (1) of section
175	679.3111, Florida Statutes, is amended to read:
176	679.3111  Perfection of security interests in property
177	subject to certain statutes, regulations, and treaties.-
178	(1)  Except as otherwise provided in subsection (4), the
179	filing of a financing statement is not necessary or effective to
180	perfect a security interest in property subject to:
181	(c)  A certificate-of-title statute of another jurisdiction
182	which provides for a security interest to be indicated on a the
183	certificate of title as a condition or result of the security
184	interest's obtaining priority over the rights of a lien creditor
185	with respect to the property.
186	Section 5.  Subsections (8) and (9) are added to section
187	679.3161, Florida Statutes, to read:
188	679.3161  Effect Continued perfection of security interest
189	following change in governing law.-
190	(8)  The following rules apply to collateral to which a
191	security interest attaches within 4 months after the debtor
192	changes its location to another jurisdiction:
193	(a)  A financing statement filed before the change of the
194	debtor's location pursuant to the law of the jurisdiction
195	designated in s. 679.3011(1) or s. 679.3051(3) is effective to
196	perfect a security interest in the collateral if the financing
197	statement would have been effective to perfect a security
198	interest in the collateral if the debtor had not changed its
199	location.
200	(b)  If a security interest that is perfected by a
201	financing statement that is effective under paragraph (a)
202	becomes perfected under the law of the other jurisdiction before
203	the earlier of the time the financing statement would have
204	become ineffective under the law of the jurisdiction designated
205	in s. 679.3011(1) or s. 679.3051(3) or the expiration of the 4-
206	month period, it remains perfected thereafter. If the security
207	interest does not become perfected under the law of the other
208	jurisdiction before the earlier time or event, it becomes
209	unperfected and is deemed never to have been perfected as
210	against a purchaser of the collateral for value.
211	(9)  If a financing statement naming an original debtor is
212	filed pursuant to the law of the jurisdiction designated in s.
213	679.3011(1) or s. 679.3051(3) and the new debtor is located in
214	another jurisdiction, the following rules apply:
215	(a)  The financing statement is effective to perfect a
216	security interest in collateral in which the new debtor has or
217	acquires rights before or within 4 months after the new debtor
218	becomes bound under s. 679.2031(4), if the financing statement
219	would have been effective to perfect a security interest in the
220	collateral if the collateral had been acquired by the original
221	debtor.
222	(b)  A security interest that is perfected by the financing
223	statement and that becomes perfected under the law of the other
224	jurisdiction before the earlier of the expiration of the 4-month
225	period or the time the financing statement would have become
226	ineffective under the law of the jurisdiction designated in s.
227	679.3011(1) or s. 679.3051(3) remains perfected thereafter. A
228	security interest that is perfected by the financing statement
229	but that does not become perfected under the law of the other
230	jurisdiction before the earlier time or event becomes
231	unperfected and is deemed never to have been perfected as
232	against a purchaser of the collateral for value.
233	Section 6.  Subsections (2) and (4) of section 679.3171,
234	Florida Statutes, are amended to read:
235	679.3171  Interests that take priority over or take free of
236	security interest or agricultural lien.-
237	(2)  Except as otherwise provided in subsection (5), a
238	buyer, other than a secured party, of tangible chattel paper,
239	tangible documents, goods, instruments, or a certificated
240	security certificate takes free of a security interest or
241	agricultural lien if the buyer gives value and receives delivery
242	of the collateral without knowledge of the security interest or
243	agricultural lien and before it is perfected.
244	(4)  A licensee of a general intangible or a buyer, other
245	than a secured party, of collateral accounts, electronic chattel
246	paper, electronic documents, general intangibles, or investment
247	property other than tangible chattel paper, tangible documents,
248	goods, instruments, or a certificated security takes free of a
249	security interest if the licensee or buyer gives value without
250	knowledge of the security interest and before it is perfected.
251	Section 7.  Section 679.326, Florida Statutes, is amended
252	to read:
253	679.326  Priority of security interests created by new
254	debtor.-
255	(1)  Subject to subsection (2), a security interest that is
256	created by a new debtor in collateral in which the new debtor
257	has or acquires rights and which is perfected by a filed
258	financing statement that would be ineffective to perfect the
259	security interest but for the application of s. 679.508 or ss.
260	679.508 and 679.3161(9)(a) is effective solely under s. 679.508
261	in collateral in which a new debtor has or acquires rights is
262	subordinate to a security interest in the same collateral which
263	is perfected other than by such a filed financing statement that
264	is effective solely under s. 679.508.
265	(2)  The other provisions of this part determine the
266	priority among conflicting security interests in the same
267	collateral perfected by filed financing statements described in
268	subsection (1) that are effective solely under s. 679.508.
269	However, if the security agreements to which a new debtor became
270	bound as debtor were not entered into by the same original
271	debtor, the conflicting security interests rank according to
272	priority in time of the new debtor's having become bound.
273	Section 8.  Subsection (5) of section 679.4061, Florida
274	Statutes, is amended to read:
275	679.4061  Discharge of account debtor; notification of
276	assignment; identification and proof of assignment; restrictions
277	on assignment of accounts, chattel paper, payment intangibles,
278	and promissory notes ineffective.-
279	(5)  Subsection (4) does not apply to the sale of a payment
280	intangible or promissory note, other than a sale pursuant to a
281	disposition under s. 679.610 or an acceptance of collateral
282	under s. 679.620.
283	Section 9.  Subsection (2) of section 679.4081, Florida
284	Statutes, is amended to read:
285	679.4081  Restrictions on assignment of promissory notes,
286	health-care-insurance receivables, and certain general
287	intangibles ineffective.-
288	(2)  Subsection (1) applies to a security interest in a
289	payment intangible or promissory note only if the security
290	interest arises out of a sale of the payment intangible or
291	promissory note, other than a sale pursuant to a disposition
292	under s. 679.610 or an acceptance of collateral under s.
293	679.620.
294	Section 10.  Subsection (3) of section 679.5021, Florida
295	Statutes, is amended to read:
296	679.5021  Contents of financing statement; record of
297	mortgage as financing statement; time of filing financing
298	statement.-
299	(3)  A record of a mortgage satisfying the requirements of
300	chapter 697 is effective, from the date of recording, as a
301	financing statement filed as a fixture filing or as a financing
302	statement covering as-extracted collateral or timber to be cut
303	only if:
304	(a)  The record of a mortgage indicates the goods or
305	accounts that it covers;
306	(b)  The goods are or are to become fixtures related to the
307	real property described in the record of a mortgage or the
308	collateral is related to the real property described in the
309	mortgage and is as-extracted collateral or timber to be cut;
310	(c)  The record of a mortgage satisfies complies with the
311	requirements for a financing statement in this section,
312	although:
313	1.  The record of a mortgage need not indicate other than
314	an indication that it is to be filed in the real property
315	records; and
316	2.  The record of a mortgage sufficiently provides the name
317	of a debtor who is an individual if it provides the individual
318	name of the debtor or the surname and first personal name of the
319	debtor, even if the debtor is an individual to whom s.
320	679.5031(1)(d) or (e) applies; and
321	(d)  The record of a mortgage is recorded as required by
322	chapter 697.
323	Section 11.  Subsections (1) and (2) of section 679.5031,
324	Florida Statutes, are amended, and subsections (6), (7), and (8)
325	are added to that section, to read:
326	679.5031  Name of debtor and secured party.-
327	(1)  A financing statement sufficiently provides the name
328	of the debtor:
329	(a)  Except as otherwise provided in paragraph (c), if the
330	debtor is a registered organization or the collateral is held in
331	a trust that is a registered organization, only if the financing
332	statement provides the name that is stated to be the registered
333	organization's name of the debtor indicated on the public
334	organic record most recently filed with or issued or enacted by
335	of the registered organization's debtor's jurisdiction of
336	organization that purports to state, amend, or restate the
337	registered organization's name which shows the debtor to have
338	been organized;
339	(b)  Subject to subsection (6), if the collateral is being
340	administered by the personal representative of a decedent debtor
341	is a decedent's estate, only if the financing statement
342	provides, as the name of the debtor, the name of the decedent
343	and, in a separate part of the financing statement, indicates
344	that the collateral is being administered by a personal
345	representative debtor is an estate;
346	(c)  If the collateral debtor is held in a trust that is
347	not a registered organization or a trustee acting with respect
348	to property held in trust, only if the financing statement:
349	1.  Provides, as the name of the debtor:
350	a.  If the organic record of the trust specifies a name, if
351	any, specified for the trust, the in its organic documents or,
352	if no name so is specified; or
353	b.  If the organic record of the trust does not specify a
354	name for the trust, provides the name of the settlor or testator
355	and additional information sufficient to distinguish a debtor
356	from other trusts having one or more of the same settlors; and
357	2.  In a separate part of the financing statement:
358	a.  If the name is provided in accordance with sub-
359	subparagraph 1.a., indicates, in the debtor's name or otherwise,
360	that the collateral debtor is held in a trust or is a trustee
361	acting with respect to property held in trust; or
362	b.  If the name is provided in accordance with sub-
363	subparagraph 1.b., provides additional information sufficient to
364	distinguish the trust from other trusts having one or more of
365	the same settlors or the same testator and indicates that the
366	collateral is held in a trust, unless the additional information
367	so indicates;
368	(d)  Subject to subsection (7), if the debtor is an
369	individual to whom this state has issued a driver license that
370	has not expired or to whom the agency of this state that issues
371	driver licenses has issued, in lieu of a driver license, a
372	personal identification card that has not expired, only if the
373	financing statement provides the name of the individual that is
374	indicated on the driver license or personal identification card;
375	(e)  If the debtor is an individual to whom paragraph (d)
376	does not apply, only if the financing statement provides the
377	individual name of the debtor or the surname and first personal
378	name of the debtor; and
379	(f)(d)  In other cases:
380	1.  If the debtor has a name, only if it provides the
381	individual or organizational name of the debtor; and
382	2.  If the debtor does not have a name, only if it provides
383	the names of the partners, members, associates, or other persons
384	comprising the debtor, in a manner that each name provided would
385	be sufficient if the person named were the debtor.
386	(2)  A financing statement that provides the name of the
387	debtor in accordance with subsection (1) is not rendered
388	ineffective by the absence of:
389	(a)  A trade name or other name of the debtor; or
390	(b)  Unless required under subparagraph (1)(f)2. (1)(d)2.,
391	names of partners, members, associates, or other persons
392	comprising the debtor.
393	(6)  The name of the decedent indicated on the order
394	appointing the personal representative of the decedent issued by
395	the court having jurisdiction over the collateral is sufficient
396	as the name of the decedent under paragraph (1)(b).
397	(7)  If this state has issued to an individual more than
398	one driver license or, if none, more than one identification
399	card, of a kind described in paragraph (1)(d), the driver
400	license or identification card, as applicable, that was issued
401	most recently is the one to which paragraph (1)(d) refers.
402	(8)  As used in this section, the term "name of the settlor
403	or testator" means:
404	(a)  If the settlor is a registered organization, the name
405	of the registered organization indicated on the public organic
406	record filed with or issued or enacted by the registered
407	organization's jurisdiction of organization; or
408	(b)  In other cases, the name of the settlor or testator
409	indicated in the trust's organic record.
410	Section 12.  Subsection (3) of section 679.5071, Florida
411	Statutes, is amended to read:
412	679.5071  Effect of certain events on effectiveness of
413	financing statement.-
414	(3)  If the a debtor so changes its name that a filed
415	financing statement provides for a debtor becomes insufficient
416	as the name of the debtor under s. 679.5031(1) so that the
417	financing statement becomes seriously misleading under the
418	standard set forth in s. 679.5061:
419	(a)  The financing statement is effective to perfect a
420	security interest in collateral acquired by the debtor before,
421	or within 4 months after, the filed financing statement becomes
422	seriously misleading change; and
423	(b)  The financing statement is not effective to perfect a
424	security interest in collateral acquired by the debtor more than
425	4 months after the filed financing statement becomes seriously
426	misleading change, unless an amendment to the financing
427	statement which renders the financing statement not seriously
428	misleading is filed within 4 months after that event the change.
429	Section 13.  Subsection (6) of section 679.515, Florida
430	Statutes, is amended to read:
431	679.515  Duration and effectiveness of financing statement;
432	effect of lapsed financing statement.-
433	(6)  If a debtor is a transmitting utility and a filed
434	initial financing statement so indicates, the financing
435	statement is effective until a termination statement is filed.
436	Section 14.  Subsection (2) of section 679.516, Florida
437	Statutes, is amended to read:
438	679.516  What constitutes filing; effectiveness of filing.-
439	(2)  Filing does not occur with respect to a record that a
440	filing office refuses to accept because:
441	(a)  The record is not communicated by a method or medium
442	of communication authorized by the filing office;
443	(b)  An amount equal to or greater than the applicable
444	processing fee is not tendered;
445	(c)  The filing office is unable to index the record
446	because:
447	1.  In the case of an initial financing statement, the
448	record does not provide an organization's name or, if an
449	individual, the individual's last name and first name;
450	2.  In the case of an amendment or information correction
451	statement, the record:
452	a.  Does not correctly identify the initial financing
453	statement as required by s. 679.512 or s. 679.518, as
454	applicable; or
455	b.  Identifies an initial financing statement the
456	effectiveness of which has lapsed under s. 679.515;
457	3.  In the case of an initial financing statement that
458	provides the name of a debtor identified as an individual or an
459	amendment that provides a name of a debtor identified as an
460	individual which was not previously provided in the financing
461	statement to which the record relates, the record does not
462	identify the debtor's surname last name and first personal name;
463	or
464	4.  In the case of a record filed or recorded in the filing
465	office described in s. 679.5011(1)(a), the record does not
466	provide a sufficient description of the real property to which
467	it relates;
468	(d)  In the case of an initial financing statement or an
469	amendment that adds a secured party of record, the record does
470	not provide an organization's name or, if an individual, the
471	individual's last name and first name and mailing address for
472	the secured party of record;
473	(e)  In the case of an initial financing statement or an
474	amendment that provides a name of a debtor which was not
475	previously provided in the financing statement to which the
476	amendment relates, the record does not:
477	1.  Provide a mailing address for the debtor; or
478	2.  Indicate whether the name provided as the name of the
479	debtor is the name of an individual or an organization; or
480	3.  If the financing statement indicates that the debtor is
481	an organization, provide:
482	a.  A type of organization for the debtor;
483	b.  A jurisdiction of organization for the debtor; or
484	c.  An organizational identification number for the debtor
485	or indicate that the debtor has none;
486	(f)  In the case of an assignment reflected in an initial
487	financing statement under s. 679.514(1) or an amendment filed
488	under s. 679.514(2), the record does not provide an
489	organization's name or, if an individual, the individual's last
490	name and first name and mailing address for the assignee;
491	(g)  In the case of a continuation statement, the record is
492	not filed within the 6-month period prescribed by s. 679.515(4);
493	(h)  In the case of an initial financing statement or an
494	amendment, which amendment requires the inclusion of a
495	collateral statement but the record does not provide any, the
496	record does not provide a statement of collateral; or
497	(i)  The record does not include the notation required by
498	s. 201.22 indicating that the excise tax required by chapter 201
499	had been paid or is not required.
500	Section 15.  Section 679.518, Florida Statutes, is amended
501	to read:
502	679.518  Claim concerning inaccurate or wrongfully filed
503	record.-
504	(1)  A person may file in the filing office an information
505	a correction statement with respect to a record indexed there
506	under the person's name if the person believes that the record
507	is inaccurate or was wrongfully filed.
508	(2)  An information A correction statement under subsection
509	(1) must:
510	(a)  Identify the record to which it relates by the file
511	number assigned to the initial financing statement, the debtor,
512	and the secured party of record to which the record relates;
513	(b)  Indicate that it is an information a correction
514	statement; and
515	(c)  Provide the basis for the person's belief that the
516	record is inaccurate and indicate the manner in which the person
517	believes the record should be amended to cure any inaccuracy or
518	provide the basis for the person's belief that the record was
519	wrongfully filed.
520	(3)  A person may file in the filing office an information
521	statement with respect to a record filed there if the person is
522	a secured party of record with respect to the financing
523	statement to which the record relates and believes that the
524	person that filed the record was not entitled to do so under s.
525	679.509(3).
526	(4)  An information statement under subsection (3) must:
527	(a)  Identify the record to which it relates by file number
528	assigned to the initial financing statement to which the record
529	relates;
530	(b)  Indicate that it is an information statement; and
531	(c)  Provide the basis for the person's belief that the
532	record is inaccurate and indicate the manner in which the person
533	believes the record should be amended to cure any inaccuracy or
534	provide the basis for the person's belief that the record was
535	wrongfully filed.
536	(5)(3)  The filing of an information a correction statement
537	does not affect the effectiveness of an initial financing
538	statement or other filed record.
539	Section 16.  Subsection (2) of section 679.607, Florida
540	Statutes, is amended to read:
541	679.607  Collection and enforcement by secured party.-
542	(2)  If necessary to enable a secured party to exercise
543	under paragraph (1)(c) the right of a debtor to enforce a
544	mortgage nonjudicially outside this state, the secured party may
545	record in the office in which a record of the mortgage is
546	recorded:
547	(a)  A copy of the security agreement that creates or
548	provides for a security interest in the obligation secured by
549	the mortgage; and
550	(b)  The secured party's sworn affidavit in recordable form
551	stating that:
552	1.  A default has occurred with respect to the obligation
553	secured by the mortgage; and
554	2.  The secured party is entitled to enforce the mortgage
555	nonjudicially outside this state.
556	Section 17.  Part VIII of chapter 679, Florida Statutes,
557	consisting of sections 679.801, 679.802, 679.803, 679.804,
558	679.805, 679.806, 679.807, and 679.808, Florida Statutes, is
559	created to read:
560	679.801  Saving clause.-
561	(1)  Except as otherwise provided in this part, this part
562	applies to a transaction or lien within its scope, even if the
563	transaction or lien was entered into or created before July 1,
564	2013.
565	(2)  The amendments to this chapter by this act do not
566	affect an action, case, or proceeding commenced before July 1,
567	2013.
568	679.802  Security interest perfected before effective
569	date.-
570	(1)  A security interest that is a perfected security
571	interest immediately before July 1, 2013, is a perfected
572	security interest under this chapter, as amended by this act, on
573	July 1, 2013, if the applicable requirements for attachment and
574	perfection under this chapter, as amended by this act, are
575	satisfied without further action.
576	(2)  Except as otherwise provided in s. 679.804, if a
577	security interest is a perfected security interest immediately
578	before July 1, 2013, but the applicable requirements for
579	perfection under this chapter, as amended by this act, are not
580	satisfied on July 1, 2013, the security interest remains
581	perfected thereafter only if the applicable requirements for
582	perfection under this chapter, as amended by this act, are
583	satisfied no later than July 1, 2014.
584	679.803  Security interest unperfected before effective
585	date.-A security interest that is an unperfected security
586	interest immediately before July 1, 2013, becomes a perfected
587	security interest:
588	(1)  Without further action, on July 1, 2013, if the
589	applicable requirements for perfection under this chapter, as
590	amended by this act, are satisfied before or at that time; or
591	(2)  When the applicable requirements for perfection are
592	satisfied if the requirements are satisfied after that time.
593	679.804  Effectiveness of action taken before effective
594	date.-
595	(1)  The filing of a financing statement before July 1,
596	2013, is effective to perfect a security interest to the extent
597	the filing would satisfy the applicable requirements for
598	perfection under this chapter, as amended by this act.
599	(2)  The amendments to this chapter by this act do not
600	render ineffective an effective financing statement that was
601	filed before July 1, 2013, and satisfies the applicable
602	requirements for perfection under the law of the jurisdiction
603	governing perfection as provided in this chapter as it existed
604	before July 1, 2013. However, except as otherwise provided in
605	subsections (3) and (4) and s. 679.805, the financing statement
606	ceases to be effective:
607	(a)  If the financing statement is filed in this state, at
608	the time the financing statement would have ceased to be
609	effective had this act not taken effect; or
610	(b)  If the financing statement is filed in another
611	jurisdiction, at the earlier of:
612	1.  The time the financing statement would have ceased to
613	be effective under the law of that jurisdiction; or
614	2.  By June 30, 2018.
615	(3)  The filing of a continuation statement on or after
616	July 1, 2013, does not continue the effectiveness of the
617	financing statement filed before July 1, 2013. However, on the
618	timely filing of a continuation statement on or after July 1,
619	2013, and in accordance with the law of the jurisdiction
620	governing perfection as provided in this chapter, as amended by
621	this act, the effectiveness of a financing statement filed in
622	the same office in that jurisdiction before July 1, 2013,
623	continues for the period provided by the law of that
624	jurisdiction.
625	(4)  Subparagraph (2)(b)2., applies to a financing
626	statement that was filed before July 1, 2013, against a
627	transmitting utility and satisfies the applicable requirements
628	for perfection under the law of the jurisdiction governing
629	perfection as provided in this chapter as it existed before July
630	1, 2013, only to the extent that this chapter, as amended by
631	this act, provides that the law of a jurisdiction other than the
632	jurisdiction in which the financing statement is filed governs
633	perfection of a security interest in collateral covered by the
634	financing statement.
635	(5)  A financing statement that includes a financing
636	statement filed before July 1, 2013, or a continuation statement
637	filed on or after July 1, 2013, is effective only to the extent
638	that it satisfies the requirements of part V, as amended by this
639	act, for an initial financing statement. A financing statement
640	that indicates that the debtor is a decedent's estate indicates
641	that the collateral is being administered by a personal
642	representative within the meaning of s. 679.5031(1)(b), as
643	amended by this act. A financing statement that indicates that
644	the debtor is a trust or is a trustee acting with respect to
645	property held in trust indicates that the collateral is held in
646	a trust within the meaning of s. 679.5031(1)(c), as amended by
647	this act.
648	679.805  When initial financing statement suffices to
649	continue effectiveness of financing statement.-
650	(1)  The filing of an initial financing statement in the
651	office specified in s. 679.5011 continues the effectiveness of a
652	financing statement filed before July 1, 2013, if:
653	(a)  The filing of an initial financing statement in that
654	office would be effective to perfect a security interest under
655	this chapter, as amended by this act;
656	(b)  The financing statement filed before July 1, 2013, was
657	filed in an office in another state; and
658	(c)  The initial financing statement satisfies subsection
659	(3).
660	(2)  The filing of an initial financing statement under
661	subsection (1) continues the effectiveness of the financing
662	statement filed before July 1, 2013, if:
663	(a)  The initial financing statement is filed before July
664	1, 2013, for the period provided in s. 679.515, as it existed
665	before its amendment by this act, with respect to an initial
666	financing statement; and
667	(b)  The initial financing statement is filed on or after
668	July 1, 2013, for the period provided in s. 679.515, as amended
669	by this act, with respect to an initial financing statement.
670	(3)  To be effective for purposes of subsection (1), an
671	initial financing statement must:
672	(a)  Satisfy the requirements of part IV, as amended by
673	this act, for an initial financing statement;
674	(b)  Identify the financing statement filed before July 1,
675	2013, by indicating the office in which the financing statement
676	was filed and providing the dates of filing and file numbers, if
677	any, of the financing statement and of the most recent
678	continuation statement filed with respect to the financing
679	statement; and
680	(c)  Indicate that the financing statement filed before
681	July 1, 2013, remains effective.
682	679.806  Amendment of financing statement filed before July
683	1, 2013.-
684	(1)  On or after July 1, 2013, a person may add or delete
685	collateral covered by, continue or terminate the effectiveness
686	of, or otherwise amend the information provided in, a financing
687	statement only filed before July 1, 2013, in accordance with the
688	law of the jurisdiction governing perfection as provided in this
689	chapter, as amended by this act. However, the effectiveness of a
690	financing statement filed before July 1, 2013, also may be
691	terminated in accordance with the law of the jurisdiction in
692	which the financing statement is filed.
693	(2)  Except as otherwise provided in subsection (3), if the
694	law of this state governs perfection of a security interest, the
695	information in a financing statement filed before July 1, 2013,
696	may be amended after July 1, 2013, only if:
697	(a)  The financing statement filed before July 1, 2013, and
698	an amendment are filed in the office specified in s. 679.5011;
699	(b)  An amendment is filed in the office specified in s.
700	679.5011 concurrently with, or after the filing in that office
701	of, an initial financing statement that satisfies s. 679.805(3);
702	or
703	(c)  An initial financing statement that provides the
704	information as amended and satisfies s. 679.805(3) is filed in
705	the office specified in s. 679.5011.
706	(3)  If the law of this state governs perfection of a
707	security interest, the effectiveness of a financing statement
708	filed before July 1, 2013, may be continued only under s.
709	679.804(3) and (5) or s. 679.805.
710	(4)  Whether or not the law of this state governs
711	perfection of a security interest, the effectiveness of a
712	financing statement filed in this state before July 1, 2013, may
713	be terminated on or after July 1, 2013, by filing a termination
714	statement in the office in which the financing statement filed
715	before July 1, 2013, is filed, unless an initial financing
716	statement that satisfies s. 679.805(3) has been filed in the
717	office specified by the law of the jurisdiction governing
718	perfection as provided in this chapter, as amended by this act,
719	as the office in which to file a financing statement.
720	679.807  Person entitled to file initial financing
721	statement or continuation statement.-A person may file an
722	initial financing statement or a continuation statement under
723	this part if:
724	(1)  The secured party of record authorizes the filing; and
725	(2)  The filing is necessary under this part:
726	(a)  To continue the effectiveness of a financing statement
727	filed before July 1, 2013; or
728	(b)  To perfect or continue the perfection of a security
729	interest.
730	679.808  Priority.-This part and the amendments to this
731	chapter made by this act determine the priority of conflicting
732	claims to collateral. However, if the relative priorities of the
733	claims were established before July 1, 2013, this chapter as it
734	existed before July 1, 2013, determines priority.
735	Section 18.  Paragraph (m) of subsection (3) of section
736	680.1031, Florida Statutes, is amended to read:
737	680.1031  Definitions and index of definitions.-
738	(3)  The following definitions in other chapters of this
739	code apply to this chapter:
740	(m)  "Pursuant to a commitment," s. 679.1021(1)(ppp)
741	679.1021(1)(ooo).
742	Section 19.  The Division of Statutory Revision is directed
743	to replace the phrase "this act" wherever it occurs in sections
744	679.801, 679.802, 679.803, 679.804, 679.805, 679.806, 679.807,
745	and 679.808, Florida Statutes, with the assigned chapter number
746	of this act.
747	Section 20.  This act shall take effect July 1, 2013.

CODING: Words stricken are deletions; words underlined are additions.