SB 2856
Motor vehicles; prevent perfection of security interest in when subject to statutory possessory lien.
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
An act to amend section 63-21-43, mississippi code of 1972, to provide that a security interest IN a motor vehicle may not be perfected while the vehicle is subject to a valid statutory possessory lien; To require a secured party seeking to perfect a security interest to certify to the department of revenue that no such possessory lien exists OR obtain written consent from the holder of such a lien; To provide that any security interest filed IN violation of this act shall be unperfected against the holder of the possessory lien and subordinate IN priority to that lien; To bring forward sections 63-21-16, 75-9-333, 85-7-107 and 85-7-251, mississippi code of 1972, for the purpose of possible amendment; And for related purposes.
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