Florida statute

Fla. Stat. § 817.562 — Fraud involving a security interest

Current through 2025 Florida Statutes

Part of Part I: False Pretenses and Frauds,generally, Florida Statutes.

Criminal charges under this statute

Fraud involving a security interest

Full text of Fla. Stat. § 817.562

Statutory text current through the 2025 Florida Statutes. This publication reproduces the official statutory text; it is not the official statutes of the State of Florida.

Fla. Stat. § 817.562Primary source, current through the 2025 Florida Statutes

(1) As used in this section, the terms “proceeds,” “security agreement,” “security interest,” and “secured party” shall be given the meanings prescribed for them in chapter 679. (2) A person is guilty of fraud involving a security interest when, having executed a security agreement creating a security interest in personal property, including accounts receivable, which security interest secures a monetary obligation owed to a secured party, and:(a) Having under the security agreement both the right of sale or other disposition of the property and the duty to account to the secured party for the proceeds of disposition, he or she sells or otherwise disposes of the property and wrongfully and willfully fails to account to the secured party for the proceeds of disposition; or(b) Having under the security agreement no right of sale or other disposition of the property, he or she knowingly secretes, withholds, or disposes of such property in violation of the security agreement. (3) Any person who knowingly violates this section shall be punished as follows:(a) If the value of the property sold, secreted, withheld, or disposed of or the proceeds from the sale or disposition of the property is $300 or more, such person is guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.(b) If the value of the property sold, secreted, withheld, or disposed of or the proceeds obtained from the sale or disposition of the property is less than $300, such person is guilty of a misdemeanor of the first degree, punishable as provided in s. 775.082 or s. 775.083.

Official sources

Legal terms used in this section

Questions this section answers

Is fraud involving a security interest a felony or a misdemeanor in Florida?

It depends on the circumstances: fraud involving a security interest ranges from a Misdemeanor of the First Degree to a Felony of the Third Degree in Florida under Fla. Stat. § 817.562.

Fraud involving a security interest ($300 or more): Felony of the Third Degree (Fla. Stat. § 817.562(3)(a)) · Fraud involving a security interest (less than $300): Misdemeanor of the First Degree (Fla. Stat. § 817.562(3)(b))

Which Florida statute covers fraud involving a security interest?

Fraud involving a security interest is governed by Fla. Stat. § 817.562 (Fraud involving a security interest).

This reference is informational and is not legal advice.