Florida Statutes 516.27 – Preexisting contracts
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 516.27
- Contract: A legal written agreement that becomes binding when signed.
- License: means a permit issued under this chapter to make and collect loans in accordance with this chapter at a single place of business. See Florida Statutes 516.01
- Licensee: means a person to whom a license is issued. See Florida Statutes 516.01
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
This chapter or any part thereof may be modified, amended, or repealed so as to effect a cancellation or alteration of any license or right of a licensee hereunder, provided that such cancellation or alteration shall not impair or affect the obligation of any preexisting lawful contract between any licensee and any obligor, provided further, that nothing contained herein shall be construed so as to impair or affect the obligation of any contract of loan which was lawfully entered into prior to the effective date of this law.