69V-160.012. Deed or Other Conveyance as Collateral

Effective on Monday, September 1, 1975

1A licensee shall not permit a borrower to execute and deliver to licensee a deed or other unconditional conveyance transferring ownership or borrower’s real or personal property as security or collateral for a loan. Any collateral or security shall be evidenced by an appropriate mortgage or other security instrument. A deed or other conveyance transferring ownership of real or personal property to the borrower shall not be held or kept as collateral or security by a licensee.

78Rulemaking Authority 80516.22(1), 81516.23(3) FS. 83Law Implemented 85516.16 FS. 87History–Amended 10-20-73, Renumbered from 3-2.12 to 3D-160.12 on 8-11-75, Amended 9-1-75, Formerly 3D-160.12, 3D-160.012.

Related Statutes:

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        var href = decodeURIComponent(window.location.href);
                        var url = decodeURIComponent(escape(href.split("#")[0]));
                        url = decodeURIComponent(escape(url.split(",")[0]));
                        art.dialog.defaults.title = url;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');