Florida District Courts of Appeal, 1998

City of Tamarac v. State, Department of Banking & Finance, Division of Securities & Investor Protection

City of Tamarac v. State, Department of Banking & Finance, Division of Securities & Investor Protection
Florida District Courts of Appeal · Decided June 3, 1998 · Gunther, Shahood, Stone
711 So. 2d 638; 1998 Fla. App. LEXIS 8839; 1998 WL 281291 (Southern Reporter, Second Series)

City of Tamarac v. State, Department of Banking & Finance, Division of Securities & Investor Protection

Opinion of the Court

PER CURIAM.

We affirm the hearing officer’s order limiting Appellants’ recovery against the Securities Guaranty Fund to $10,000 per claimant. Fla. Stat. § 517.141 (1989). Appellants filed multiple claims in excess of $10,000 for losses that arose out of the same transaction, conduct, or occurrence. We apply a 1992 amendment to section 517.141 retroactively to aid in clarifying the legislative intent that recovery on multiple claims against the fluid which arise out of the same transaction, conduct, or occurrence, is limited to $10,000 per claimant. Fla. Stat. § 517.141(4)(Supp.l992); see also In re: First Park Equities, Inc., Administrative Proceeding No. 823-S-1/88 (Fla.Dep’t.Bank.Fin. May 3, 1988); In re Michelin & Co., Administrative Proceeding No. 1471-S-3/91 (Fla.Dep’t.Bank.Fin. October 9, 1991).

STONE, C.J., and GUNTHER and SHAHOOD, JJ., concur.

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