CITY OF TAMARAC v. STATE DEPARTMENT OF BANKING AND FINANCE DIVISION OF SECURITIES AND INVESTOR PROTECTION (1998)

District Court of Appeal of Florida,Fourth District.

The CITY OF TAMARAC, Florida, The City of Beaumont, Texas, The City of Allentown, Pennsylvania, and Board of Education, Memphis City Schools, Appellants, v. STATE of Florida, DEPARTMENT OF BANKING AND FINANCE, DIVISION OF SECURITIES AND INVESTOR PROTECTION, Charles W. Streicher, Timothy R. Murphy, George G. Mead, Ronald R. Ewton, and Nicholas B. Wallace, Appellees.

No. 97-0017.

Decided: June 03, 1998

Stephen T. Maher of Stephen T. Maher, P.A., Miami, for appellants. Robert F. Milligan, Comptroller, State of Florida, and Deborah Guller, Chief Appellate Counsel, Fort Lauderdale, for Appellee State of Florida Department of Banking and Finance Division of Securities and Investor Protection.

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 fund which arise out of the same transaction, conduct, or occurrence, is limited to $10,000 per claimant. Fla. Stat. § 517.141(4)(Supp.1992); 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).

PER CURIAM.

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

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