679.2051 Use or disposition of collateral permissible.—(1) A security interest is not invalid or fraudulent against creditors solely because:(a) The debtor has the right or ability to:1. Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;2. Collect, compromise, enforce, or otherwise deal with collateral;3. Accept the return of collateral or make repossessions; or4. Use, commingle, or dispose of proceeds; or(b) The secured party fails to require the debtor to account for proceeds or replace collateral.(2) This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.History.—s. 2, ch. 2001-198.
Florida Legal Code