Florida Statutes
Part III - Perfection and Priority (Ss. 679.3011-679.342)
679.3161 - Continued perfection of security interest following change in governing law.


(1) A security interest perfected pursuant to the law of the jurisdiction designated in s. 679.3011(1) or s. 679.3051(3) remains perfected until the earliest of:
(a) The time perfection would have ceased under the law of that jurisdiction;
(b) The expiration of 4 months after a change of the debtor’s location to another jurisdiction; or
(c) The expiration of 1 year after a transfer of collateral to a person who thereby becomes a debtor and is located in another jurisdiction.

(2) If a security interest described in subsection (1) becomes perfected under the law of the other jurisdiction before the earliest time or event described in that subsection, it remains perfected thereafter. If the security interest does not become perfected under the law of the other jurisdiction before the earliest time or event, it becomes unperfected and is deemed never to have been perfected as against a purchaser of the collateral for value.
(3) A possessory security interest in collateral, other than goods covered by a certificate of title and as-extracted collateral consisting of goods, remains continuously perfected if:
(a) The collateral is located in one jurisdiction and subject to a security interest perfected under the law of that jurisdiction;
(b) Thereafter the collateral is brought into another jurisdiction; and
(c) Upon entry into the other jurisdiction, the security interest is perfected under the law of the other jurisdiction.

(4) Except as otherwise provided in subsection (5), a security interest in goods covered by a certificate of title which is perfected by any method under the law of another jurisdiction when the goods become covered by a certificate of title from this state remains perfected until the security interest would have become unperfected under the law of the other jurisdiction had the goods not become so covered.
(5) A security interest described in subsection (4) becomes unperfected as against a purchaser of the goods for value and is deemed never to have been perfected as against a purchaser of the goods for value if the applicable requirements for perfection under s. 679.3111(2) or s. 679.3131 are not satisfied before the earlier of:
(a) The time the security interest would have become unperfected under the law of the other jurisdiction had the goods not become covered by a certificate of title from this state; or
(b) The expiration of 4 months after the goods had become so covered.

(6) A security interest in deposit accounts, letter-of-credit rights, or investment property which is perfected under the law of the bank’s jurisdiction, the issuer’s jurisdiction, a nominated person’s jurisdiction, the securities intermediary’s jurisdiction, or the commodity intermediary’s jurisdiction, as applicable, remains perfected until the earlier of:
(a) The time the security interest would have become unperfected under the law of that jurisdiction; or
(b) The expiration of 4 months after a change of the applicable jurisdiction to another jurisdiction.

(7) If a security interest described in subsection (6) becomes perfected under the law of the other jurisdiction before the earlier of the time or the end of the period described in that subsection, it remains perfected thereafter. If the security interest does not become perfected under the law of the other jurisdiction before the earlier of that time or the end of that period, it becomes unperfected and is deemed never to have been perfected as against a purchaser of the collateral for value.
(8) The following rules apply to collateral to which a security interest attaches within 4 months after the debtor changes its location to another jurisdiction:
(a) A financing statement filed before the change of the debtor’s location pursuant to the law of the jurisdiction designated in s. 679.3011(1) or s. 679.3051(3) is effective to perfect a security interest in the collateral if the financing statement would have been effective to perfect a security interest in the collateral if the debtor had not changed its location.
(b) If a security interest that is perfected by a financing statement that is effective under paragraph (a) becomes perfected under the law of the other jurisdiction before the earlier of the time the financing statement would have become ineffective under the law of the jurisdiction designated in s. 679.3011(1) or s. 679.3051(3) or the expiration of the 4-month period, it remains perfected thereafter. If the security interest does not become perfected under the law of the other jurisdiction before the earlier time or event, it becomes unperfected and is deemed never to have been perfected as against a purchaser of the collateral for value.

(9) If a financing statement naming an original debtor is filed pursuant to the law of the jurisdiction designated in s. 679.3011(1) or s. 679.3051(3) and the new debtor is located in another jurisdiction, the following rules apply:
(a) The financing statement is effective to perfect a security interest in collateral in which the new debtor has or acquires rights before or within 4 months after the new debtor becomes bound under s. 679.2031(4), if the financing statement would have been effective to perfect a security interest in the collateral if the collateral had been acquired by the original debtor.
(b) A security interest that is perfected by the financing statement and that becomes perfected under the law of the other jurisdiction before the earlier of the expiration of the 4-month period or the time the financing statement would have become ineffective under the law of the jurisdiction designated in s. 679.3011(1) or s. 679.3051(3) remains perfected thereafter. A security interest that is perfected by the financing statement but that does not become perfected under the law of the other jurisdiction before the earlier time or event becomes unperfected and is deemed never to have been perfected as against a purchaser of the collateral for value.

History.—s. 3, ch. 2001-198; s. 5, ch. 2012-59.

Structure Florida Statutes

Florida Statutes

Title XXXIX - Commercial Relations

Chapter 679 - Uniform Commercial Code: Secured Transactions

Part III - Perfection and Priority (Ss. 679.3011-679.342)

679.3011 - Law governing perfection and priority of security interests.

679.3021 - Law governing perfection and priority of agricultural liens.

679.3031 - Law governing perfection and priority of security interests in goods covered by a certificate of title.

679.3041 - Law governing perfection and priority of security interests in deposit accounts.

679.3051 - Law governing perfection and priority of security interests in investment property.

679.3061 - Law governing perfection and priority of security interests in letter-of-credit rights.

679.3071 - Location of debtor.

679.3081 - When security interest or agricultural lien is perfected; continuity of perfection.

679.3091 - Security interest perfected upon attachment.

679.3101 - When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.

679.3111 - Perfection of security interests in property subject to certain statutes, regulations, and treaties.

679.3121 - Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without...

679.3131 - When possession by or delivery to secured party perfects security interest without filing.

679.3141 - Perfection by control.

679.3151 - Secured party’s rights on disposition of collateral and in proceeds.

679.3161 - Continued perfection of security interest following change in governing law.

679.3171 - Interests that take priority over or take free of security interest or agricultural lien.

679.3181 - No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.

679.319 - Rights and title of consignee with respect to creditors and purchasers.

679.320 - Buyer of goods.

679.321 - Licensee of general intangible and lessee of goods in ordinary course of business.

679.322 - Priorities among conflicting security interests in and agricultural liens on same collateral.

679.323 - Future advances.

679.324 - Priority of purchase-money security interests.

679.325 - Priority of security interests in transferred collateral.

679.326 - Priority of security interests created by new debtor.

679.327 - Priority of security interests in deposit account.

679.328 - Priority of security interests in investment property.

679.329 - Priority of security interests in letter-of-credit right.

679.330 - Priority of purchaser of chattel paper or instrument.

679.331 - Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under chapter 678.

679.332 - Transfer of money; transfer of funds from deposit account.

679.333 - Priority of certain liens arising by operation of law.

679.334 - Priority of security interests in fixtures and crops.

679.335 - Accessions.

679.336 - Commingled goods.

679.337 - Priority of security interests in goods covered by certificate of title.

679.338 - Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.

679.339 - Priority subject to subordination.

679.340 - Effectiveness of right of recoupment or set-off against deposit account.

679.341 - Bank’s rights and duties with respect to deposit account.

679.342 - Bank’s right to refuse to enter into or disclose existence of control agreement.