7-9A-103
Section 7-9A-103 Purchase-money security interest; application of payments; burden of
establishing. (a) Definitions. In this section: (1) "purchase-money collateral"
means goods or software that secures a purchase-money obligation incurred with respect to
that collateral; and (2) "purchase-money obligation" means an obligation of an obligor
incurred as all or part of the price of the collateral or for value given to enable the debtor
to acquire rights in or the use of the collateral if the value is in fact so used. (b) Purchase-money
security interest in goods. A security interest in goods is a purchase-money security interest:
(1) to the extent that the goods are purchase-money collateral with respect to that security
interest; (2) if the security interest is in inventory that is or was purchase-money collateral,
also to the extent that the security interest secures a purchase-money obligation incurred
with respect to other inventory in which the secured party holds or held a...
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7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In
this article: (1) "Accession" means goods that are physically united with other
goods in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...

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7-9A-324
Section 7-9A-324 Priority of purchase-money security interests. (a) General rule: Purchase-money
priority. Except as otherwise provided in subsection (g), a perfected purchase-money security
interest in goods other than inventory or livestock has priority over a conflicting security
interest in the same goods, and, except as otherwise provided in Section 7-9A-327,
a perfected security interest in its identifiable proceeds also has priority, if the purchase-money
security interest is perfected when the debtor receives possession of the collateral or within
20 days thereafter. (b) Inventory purchase-money priority. Subject to subsection (c) and except
as otherwise provided in subsection (g), a perfected purchase-money security interest in inventory
has priority over a conflicting security interest in the same inventory, has priority over
a conflicting security interest in chattel paper or an instrument constituting proceeds of
the inventory and in proceeds of the chattel paper, if so...
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7-9A-620
Section 7-9A-620 Acceptance of collateral in full or partial satisfaction of obligation;
compulsory disposition of collateral. (a) Conditions to acceptance in satisfaction. Except
as otherwise provided in subsection (g), a secured party may accept collateral in full or
partial satisfaction of the obligation it secures only if: (1) the debtor consents to the
acceptance under subsection (c); (2) the secured party does not receive, within the time set
forth in subsection (d), a notification of objection to the proposal authenticated by: (A)
a person to which the secured party was required to send a proposal under Section 7-9A-621;
or (B) any other person, other than the debtor, holding an interest in the collateral subordinate
to the security interest that is the subject of the proposal; (3) if the collateral is consumer
goods, the collateral is not in the possession of the debtor when the debtor consents to the
acceptance; and (4) subsection (e) does not require the secured party to...
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40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a)
Purchasers, holders of security interests, mechanic's lienors, and judgment lien creditors.
The lien imposed by Section 40-29-20 shall not be valid as against any purchaser, holder
of a security interest, mechanic's lienor, or judgment lien creditor until notice thereof
which meets the requirements of subsection (f) has been filed by the Commissioner of Revenue
or his delegate, and shall not be perfected as against any purchaser, holder of a security
interest, mechanic's lienor, or judgment lien creditor until the date such notice is filed.
(b) Protection for certain interest even though notice filed. Even though notice of a lien
imposed by Section 40-29-20 has been filed, such lien shall not be valid: (1) SECURITIES.
With respect to a security (as defined in subsection (g)(4)): a. As against a purchaser of
such security who at the time of purchase did not have actual notice or knowledge of the...

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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state,
shall execute a compact, in substantially the following form, with the State of Mississippi,
and the Legislature approves and ratifies the compact in the form substantially as follows:
Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states
solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce,
industry, and employment opportunities for the public good and welfare in northeast Mississippi
and northwest Alabama through the establishment of a joint interstate authority to acquire
certain railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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7-9A-309
Section 7-9A-309 Security interest perfected upon attachment. The following security
interests are perfected when they attach: (1) a purchase-money security interest in consumer
goods, except as otherwise provided in Section 7-9A-311(b) with respect to consumer
goods that are subject to a statute or treaty described in Section 7-9A-311(a); (2)
an assignment of accounts or payment intangibles which does not by itself or in conjunction
with other assignments to the same assignee transfer a significant part of the assignor's
outstanding accounts or payment intangibles; (3) a sale of a payment intangible; (4) a sale
of a promissory note; (5) a security interest created by the assignment of a health-care-insurance
receivable to the provider of the health-care goods or services; (6) a security interest arising
under Section 7-2-401, 7-2-505, 7-2-711(3), or 7-2A-508(5), until the debtor obtains
possession of the collateral; (7) a security interest of a collecting bank arising under Section...

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7-9-302
Section 7-9-302 When filing is required to perfect security interest; security interests
to which filing provisions of this article do not apply. THIS SECTION WAS REPEALED
IN THE 2001 REGULAR SESSION, BY ACT 2001-481, EFFECTIVE JAN. 1, 2002. (1) A financing statement
must be filed to perfect all security interests except the following: (a) A security interest
in collateral in possession of the secured party under Section 7-9-305; (b) A security
interest temporarily perfected in instruments, certificated securities, or documents without
delivery under Section 7-9-304 or in proceeds for a 20-day period under Section
7-9-306; (c) A security interest created by an assignment of a beneficial interest in a trust
or a decedent's estate; (d) A purchase money security interest in consumer goods; but filing
is required for a motor vehicle required to be registered; and fixture filing is required
for priority over conflicting interests in fixtures to the extent provided in Section
7-9-313; (e) An...
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7-9A-334
Section 7-9A-334 Priority of security interests in fixtures and crops. (a) Security
interest in fixtures under this article. A security interest under this article may be created
in goods that are fixtures or may continue in goods that become fixtures. A security interest
does not exist under this article in ordinary building materials incorporated into an improvement
on land. (b) Security interest in fixtures under real-property law. This article does not
prevent creation of an encumbrance upon fixtures under real property law. (c) General rule:
Subordination of security interest in fixtures. In cases not governed by subsections (d) through
(h), a security interest in fixtures is subordinate to a conflicting interest of an encumbrancer
or owner of the related real property other than the debtor. (d) Fixtures purchase-money priority.
Except as otherwise provided in subsection (h), a perfected security interest in fixtures
has priority over a conflicting interest of an encumbrancer or...
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7-9A-625
Section 7-9A-625 Remedies for secured party's failure to comply with article. (a) Judicial
orders concerning noncompliance. If it is established that a secured party is not proceeding
in accordance with this article, a court may order or restrain collection, enforcement, or
disposition of collateral on appropriate terms and conditions. (b) Damages for noncompliance.
Subject to subsections (c), (d), and (f), a person is liable for damages in the amount of
any loss caused by a failure to comply with this article. Loss caused by a failure to comply
may include loss resulting from the debtor's inability to obtain, or increased costs of, alternative
financing. (c) Persons entitled to recover damages; statutory damages in consumer-goods transaction.
Except as otherwise provided in Section 7-9A-628: (1) a person that, at the time of
the failure, was a debtor, was an obligor, or held a security interest in or other lien on
the collateral may recover damages under subsection (b) for its loss;...
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