SB 1666 Florida Senate · 2025 Regular Session

Uniform Commercial Code

Summary

Uniform Commercial Code; Creating the “Uniform Commercial Code—Controllable Electronic Records”; specifying when a purchaser of a controllable account or controllable payment intangible is a qualifying purchaser; specifying when a person has control of a controllable electronic record; authorizing account debtors on a controllable account or controllable payment intangible to discharge obligations under certain circumstances; specifying requirements for perfecting security interests that are enforceable and perfected before a specified date, etc.

Bill status in committee 3 of 5 stages cleared

Introduction

Mar 2025

Committee Review

Apr 2025

Senate Passage

Apr 2025

House Passage

Governor

Introduced Mar 10, 2025 Last action Apr 23, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

S 1666 c1 → S 1666 c2 · 6 edits

MODERATE

This bill updates Florida's Uniform Commercial Code to modernize rules for electronic records, digital assets, and digital payments. It creates new sections specifically governing controllable electronic records (distinct from traditional digital assets like cryptocurrency) and clarifies how security interests in these records are created, perfected, and enforced. The changes ensure legal clarity for businesses and financial institutions using modern electronic transaction systems.

Scope change

The bill expands the scope of the Uniform Commercial Code to explicitly cover controllable electronic records, controllable accounts, and controllable payment intangibles as distinct categories from traditional electronic documents of title and electronic chattel paper. It also adds transitional provisions for transactions occurring before the effective date.

DEFINITION

Created new definitions for 'controllable electronic record,' 'controllable account,' and 'controllable payment intangible' to distinguish these from other electronic assets.

Revised existing definitions in chapters 670, 671, 672, 673, 675, 677, 678, and 679 to incorporate new electronic record terminology and cross-references.

REQUIREMENT

Established new rules for determining when a person has 'control' of an electronic record, including specific criteria for acknowledgment and duty obligations.

Created new sections requiring account debtors to follow specific notification procedures when control of electronic records is transferred.

ENFORCEMENT

Added provisions specifying how security interests in electronic records are perfected and the priority rules for conflicting claims.

TIMELINE

Set July 1, 2025 as the effective date and July 1, 2026 as the adjustment date for transitional provisions affecting pre-existing transactions.

Floor votes · Senate Apr 8, 2025

How they voted

24–0

Passed · 1 other

Total votes 25

Apr 8, 2025

D Democratic5

5 Yea

100% Yea

I Independent1

1 Yea

100% Yea

R Republican19

18 Yea 1

94% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 10, 2025

Upper · Passed

Pending reference review -under Rule 4.7(2) - (Committee Substitute)

upper

Apr 8, 2025

Senate · Passed

Senate Vote: pass (24-0-1)

senate

Apr 3, 2025

Upper · Passed

On Committee agenda-- Rules, 04/08/25, 9:00 am, 412 Knott Building

upper

Apr 1, 2025

Upper · Passed

Favorable by Judiciary; YEAS 11 NAYS 0

upper

Mar 27, 2025

Upper · Passed

On Committee agenda-- Judiciary, 04/01/25, 4:00 pm, 110 Senate Building

upper

Mar 18, 2025

Upper · Passed

Pending reference review under Rule 4.7(2) - (Committee Substitute)

upper

Mar 12, 2025

Upper · Passed

On Committee agenda-- Commerce and Tourism, 03/17/25, 1:30 pm, 110 Senate Building

upper

Mar 10, 2025

Introduced

upper

Mar 7, 2025

Committee

Referred to Commerce and Tourism; Judiciary; Rules

upper

1 primary · 0 co-sponsors