STATE OF FLORIDA, APPELLANT,

v.

MARLON HAYES AND TERRY C. WILLIAMS, APPELLEES

Fla. 1st DCA | 1975-01-06

Nos. V-334 to V-337

RAWLS, C. J., JOHNSON, J., and SPECTOR, SAM, Associate Judge (Retired), concur.

305 So. 2d 822 Florida District Court of Appeal, First District (1975) Positive Treatment

Cited by 4 cases

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Holding

The court held that the delivery of securities to a bank is an exempt transaction under Florida Statute 517.06(5), regardless of whether the securities are sold to the bank for its own use.

Facts & Procedural History

The State charged appellees with violating the Florida Securities Act. The trial court dismissed the informations, finding that delivery of securities…

The full statement of facts, procedural history, and disposition for this case are member content.

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Topics

Violation Of Florida Securities Act Florida Securities And Investor Protection Act Criminal Statutes Strict Construction Of Penal Statutes

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Opinion of the Court

PER CURIAM.

As best this Court can determine, the State is attempting to challenge the lower court’s dismissal of four informations filed against appellees alleging that appellees have violated Chapter 517, Florida Securities Act. This Court was not favored by appellant with the record of the proceedings below, but as best we can ascertain after having reviewed the briefs in this cause and the records of a companion case, State of Florida v. Hayes and Williams, 305 So. 2d 819, the trial court dismissed the informations in question on the basis that the securities had been delivered to a bank, and thus the transaction would not require appellees to be registered salesmen or dealers.

Florida Statute 517.06(5),1 1971, provides that delivery of securities to a bank is an exempt transaction. This statute specifically states that delivery of securities to a bank results in the transaction being exempt. It does not require, as the State urges, that the securities be sold to the bank in the bank’s name for the bank’s use. While the Legislature may have intended such an interpretation, the statute is criminal, and it is elementary and without need of citation that criminal laws are to be strictly construed.

Judgment appealed affirmed.

RAWLS, C. J., JOHNSON, J., and SPECTOR, SAM, Associate Judge (Retired), concur. . F.S. 517.06(5), 1971 — “The sale, transfer or delivery of securities to a bank, savings institution, trust company, insurance company, corporation, pension plan, or to a broker or dealer.”

Cases With Similar Vibessemantic neighbors from the corpus

Citator

Cited By

McFADDEN v. State, 15 So. 3d 755 (Fla. 4th DCA 2009)

…v. Viacom Inc., 760 So. 2d 276 (Fla. 4th DCA 2000) (in context includes is unambiguously one of limitation not enlargement). It is elementary in the interpretation of criminal law that ambiguities are construed in defendant's favor. State v. Hayes, 305 So. 2d 822 (Fla. 1st DCA 1975), cert. denied, 317 So. 2d 764 (Fla.1975) (criminal laws are to be strictly construed). . See Rotstein v. Dep’t of Prof. & Occ. Reg., 397 So. 2d 305, 311 (Fla. 1st DCA 1980) (construing statutory term include to favor licensee in…
State of Florda v. Hayes, 317 So. 2d 764 (Fla. 1975)

…Certiorari denied. 305 So. 2d 822. ADKINS, C. J., and ROBERTS, BOYD, OVERTON, and ENGLAND, JJ., concur.…

Authorities Cited

State v. Hayes, 305 So. 2d 819 (Fla. 1st DCA 1975)

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