2000 Florida Code
TITLE XXXIX COMMERCIAL RELATIONS
Chapter 679 Uniform Commercial Code: Secured Transactions
PART I SHORT TITLE, APPLICABILITY, AND DEFINITIONS (ss. 679.101-679.116)
679.107 Definitions; "purchase money security interest."
679.107 Definitions; "purchase money security interest."--A security interest is a "purchase money security interest" to the extent that it is:
(1) Taken or retained by the seller of the collateral to secure all or part of its price; or
(2) Taken by a person who by making advances or incurring an obligation gives value to enable the debtor to acquire rights in or the use of collateral if such value is in fact so used.
History.--s. 1, ch. 65-254.
Note.--s. 9-107, U.C.C.
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