Opinion
No. 97-0017
Opinion filed June 3, 1998 JANUARY TERM 1998
Appeal from the State of Florida, Department of Banking and Finance Division of Securities and Investor Protection; L.T. No. 1113-S-7/89.
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).
STONE, C.J., GUNTHER and SHAHOOD, JJ., concur.