CopyCited 19 times | Published | Florida 3rd District Court of Appeal | 35 U.C.C. Rep. Serv. (West) 678
...in interest to the original debtor is likewise without merit. Both sections specifically refer to "whoever" throughout, clearly not limiting their application to an original debtor under a security agreement. Compare sections
818.01 and
818.03 with section
817.562 which makes it actionable fraud to sell or otherwise dispose of secured property, but limits the scope thereof to those persons "having executed a security *640 agreement creating a security interest in personal property." Section
817.562(2), Florida Statutes (1981)....
CopyPublished | Florida 1st District Court of Appeal | 2005 Fla. App. LEXIS 1444, 2005 WL 350321
DAVIS, J. The state appeals the trial court’s dismissal of a second amended information charging the appellee, Jonathon Oscar Moore, with one count of fraud involving a security interest in violation of section 817.562(2), Florida Statutes (2000). Because Moore’s actions do not constitute the charged offense as defined by section 817.562(2), we affirm the trial court’s dismissal of the second amended information....
...he underlying stock. The law firm, which continued to be in physical possession of certificate # 2030, had no knowledge of Moore’s actions. Subsequently, the state charged Moore with one count of fraud involving a security interest in violation of section 817.562(2)....
...s offense because he could not dispose of certificate # 2030, as it was in the law firm’s possession. The trial court granted the motion and this appeal followed. On appeal, the state contends that Moore’s conduct constituted fraud as defined by section 817.562(2) because Moore replaced stock certificate # 2030 with stock certificate #2080 under false pretenses thereby invalidating the instrument that the law firm could use to access the pledged stock. We disagree. Section 817.562, provides in relevant part, (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 inte...
...As a protected purchaser, the law firm’s right to the stock represented by certificate # 2030 is inalienable. Therefore, although Moore may have defrauded the stock issuer or committed some other criminal act, he did not commit fraud in violation of section 817.562(2) because he could not dispose or otherwise withhold the law firm’s right to the stock represented by certificate # 2030....
...Accordingly, we affirm the trial court’s order dismissing the second amended information. HAWKES, J., concurs; ERVIN, J., Dissents with Written Opinion. . Contrary to the assertion made in the dissenting opinion, we have not read the provisions of chapter 678 in pari materia with section 817.562 so as to resolve any inconsistencies in section 817.562. Instead, we looked to chapter 678 to determine whether Moore transferred or disposed of the stock represented by certificate # 2030 within the meaning of section 817.562(2)(b).
