Fla. Stat. 687.04
Penalty for usury; not to apply in certain situations

(1)

To a bona fide endorsee or transferee of negotiable paper purchased before maturity, unless the usurious character should appear upon its face, or unless the said endorsee or transferee shall have had actual notice of the same before the purchase of such paper, but in such event double the amount of such usurious interest may be recovered after payment, by action against the party originally exacting the same, in any court of competent jurisdiction in this state, together with an attorney’s fee, as provided in s. 687.06; or

(2)

If, prior to the institution of an action by the borrower or the filing of a defense under this chapter by the borrower or receipt of written notice by the lender from the borrower that usury has been charged or collected, the lender notifies the borrower of the usurious overcharge and refunds the amount of any overcharge taken, plus interest on the overcharge taken at the maximum lawful rate in effect at the time the usurious interest was taken, to the borrower and makes whatever adjustments in the appropriate contract or account as are necessary to ensure that the borrower will not be required to pay further interest in excess of the amount permitted by s. 687.03.

Source: Section 687.04 — Penalty for usury; not to apply in certain situations, https://www.­flsenate.­gov/Laws/Statutes/2024/0687.­04 (accessed Aug. 7, 2025).

Current through Fall 2025

§ 687.04. Penalty for usury; not to apply in certain situations's source at flsenate​.gov