Florida Senate - 2023                                     SB 978
       
       
        
       By Senator Bradley
       
       
       
       
       
       6-00465A-23                                            2023978__
    1                        A bill to be entitled                      
    2         An act relating to secured transactions; amending s.
    3         679.1081, F.S.; providing that a description of
    4         certain accounts and entitlements by a certain type of
    5         collateral is insufficient for the purpose of security
    6         agreements; providing legislative intent; providing an
    7         effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Subsection (5) of section 679.1081, Florida
   12  Statutes, is amended to read:
   13         679.1081 Sufficiency of description.—
   14         (5) A description only by type of collateral defined in
   15  this chapter is an insufficient description of:
   16         (a) A commercial tort claim;
   17         (b) In a consumer transaction, consumer goods, a security
   18  entitlement, a securities account, or a commodity account; or
   19         (c) An account consisting of a right to payment of a
   20  monetary obligation for the sale of real property that is the
   21  debtor’s homestead under the laws of this state; or
   22         (d) Accounts and other entitlements set forth in ss.
   23  222.13-222.16, s. 222.18, and ss. 222.201-222.22.
   24         Section 2. The amendment made by this act to s. 679.1081,
   25  Florida Statutes, is intended to clarify existing law.
   26         Section 3. This act shall take effect upon becoming a law.