FL H0519

Amends Florida Statutes sections 679.4061 and 679.4081 to clarify restrictions on assignment of accounts, promissory notes, health-care-insurance receivables, and general intangibles under the Uniform Commercial Code

Exempts security interests in ownership interests of general partnerships, limited partnerships, and limited liability companies from restrictions that would otherwise prohibit or impair assignment or creation of security interests

Makes ineffective any contractual terms or legal rules that prohibit, restrict, or require consent for assignment or creation of security interests in the specified assets (with limited exceptions)

Prevents terms and regulations that would trigger default, breach, or other remedies solely based on assignment or creation of security interests in the covered assets

Takes effect January 1, 2023