7-9A-623
Section 7-9A-623 Right to redeem collateral. (a) Persons that may redeem. A debtor,
any secondary obligor, or any other secured party or lienholder may redeem collateral. (b)
Requirements for redemption. To redeem collateral, a person shall tender: (1) fulfillment
of all obligations secured by the collateral; and (2) the reasonable expenses and attorney's
fees described in Section 7-9A-615(a)(1). (c) When redemption may occur. A redemption
may occur at any time before a secured party: (1) has collected collateral under Section
7-9A-607; (2) has disposed of collateral or entered into a contract for its disposition under
Section 7-9A-610; or (3) has accepted collateral in full or partial satisfaction of
the obligation it secures under Section 7-9A-622. (Act 2001-481, p. 647, §1.)...
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7-9A-614
Section 7-9A-614 Contents and form of notification before disposition of collateral:
Consumer-goods transaction. In a consumer-goods transaction, the following rules apply: (1)
A notification of disposition must provide the following information: (A) the information
specified in Section 7-9A-613(1); (B) a description of any liability for a deficiency
of the person to which the notification is sent; (C) a telephone number from which the amount
that must be paid to the secured party to redeem the collateral under Section 7-9A-623
is available; and (D) a telephone number or mailing address from which additional information
concerning the disposition and the obligation secured is available. (2) A particular phrasing
of the notification is not required. (3) The following form of notification, when completed,
provides sufficient information: Name and address of secured party Date NOTICE OF OUR PLAN
TO SELL PROPERTY Name and address of any obligor who is also a debtor Subject: ___...
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7-9A-602
Section 7-9A-602 Waiver and variance of rights and duties. Except as otherwise provided
in Section 7-9A-624, to the extent that they give rights to a debtor or obligor and
impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated
in the following listed sections: (1) Section 7-9A-207(b)(4)(C), which deals with use
and operation of the collateral by the secured party; (2) Section 7-9A-210, which deals
with requests for an accounting and requests concerning a list of collateral and statement
of account; (3) Section 7-9A-607(c), which deals with collection and enforcement of
collateral; (4) Sections 7-9A-608(a) and 7-9A-615(c) to the extent that they deal with application
or payment of noncash proceeds of collection, enforcement, or disposition; (5) Sections 7-9A-608(a)
and 7-9A-615(d) to the extent that they require accounting for or payment of surplus proceeds
of collateral; (6) Section 7-9A-609 to the extent that it imposes upon a secured party
that...
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7-9A-335
Section 7-9A-335 Accessions. (a) Creation of security interest in accession. A security
interest may be created in an accession and continues in collateral that becomes an accession.
(b) Perfection of security interest. If a security interest is perfected when the collateral
becomes an accession, the security interest remains perfected in the collateral. (c) Priority
of security interest. Except as otherwise provided in subsection (d), the other provisions
of this part determine the priority of a security interest in an accession. (d) Compliance
with certificate-of-title statute. A security interest in an accession is subordinate to a
security interest in the whole which is perfected by compliance with the requirements of a
certificate-of-title statute under Section 7-9A-311(b). (e) Removal of accession after
default. After default, subject to Part 6, a secured party may remove an accession from other
goods if the security interest in the accession has priority over the claims of every...
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11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution,
sale, delivery, redemption, etc.; security for payment of principal or interest; remedies
upon default; liability of municipalities, board, etc., thereupon. (a) Any authority shall
have power to issue from time to time its bonds and notes in such principal amount as its
board shall determine to be necessary to provide sufficient funds for achieving any of its
corporate purposes, including the payment of interest on any of its notes and bonds, the establishment
of reserves to secure any such notes and bonds and all other expenditures of such authority
incident to and necessary or convenient to carry out its corporate purposes and powers. Any
authority shall also have the power to issue from time to time notes to renew notes and bonds
to pay notes, including interest thereon and, whenever it deems refunding expedient, to refund
any bonds by the issuance of new bonds, whether the bonds to be refunded...
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11-81-21
Section 11-81-21 Investment of funds obligation in which sinking funds may be invested.
Any municipal funds or county funds not presently needed for other purposes may be invested
in any obligations in which sinking funds are now authorized to be invested, pursuant to Section
11-81-19, and in addition in any of the following: (1) Direct obligations of (including obligations
issued or held in book entry form on the books of) the Department of the Treasury of the United
States of America; (2) Obligations of any of the following federal agencies, which obligations
represent the full faith and credit of the United States of America: a. Farmers Home Administration.
b. General Services Administration. c. U. S. Maritime Administration. d. Small Business Administration.
e. Government National Mortgage Association (GNMA). f. U. S. Department of Housing and Urban
Development (HUD). g. Federal Housing Administration (FHA). (3) U. S. dollar denominated deposit
accounts and certificates of deposit...
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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-208
Section 7-9A-208 Additional duties of secured party having control of collateral. (a)
Applicability of section. This section applies to cases in which there is no
outstanding secured obligation and the secured party is not committed to make advances, incur
obligations, or otherwise give value. (b) Duties of secured party after receiving demand from
debtor. Within 10 days after receiving an authenticated demand by the debtor: (1) a secured
party having control of a deposit account under Section 7-9A-104(a)(2) shall send to
the bank with which the deposit account is maintained an authenticated statement that releases
the bank from any further obligation to comply with instructions originated by the secured
party; (2) a secured party having control of a deposit account under Section 7-9A-104(a)(3)
shall: (A) pay the debtor the balance on deposit in the deposit account; or (B) transfer the
balance on deposit into a deposit account in the debtor's name; (3) a secured party, other
than a...
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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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7-9A-607
Section 7-9A-607 Collection and enforcement by secured party. (a) Collection and enforcement
generally. If so agreed, and in any event after default, a secured party: (1) may notify an
account debtor or other person obligated on collateral to make payment or otherwise render
performance to or for the benefit of the secured party; (2) may take any proceeds to which
the secured party is entitled under Section 7-9A-315; (3) may enforce the obligations
of an account debtor or other person obligated on collateral and exercise the rights of the
debtor with respect to the obligation of the account debtor or other person obligated on collateral
to make payment or otherwise render performance to the debtor, and with respect to any property
that secures the obligations of the account debtor or other person obligated on the collateral;
(4) if it holds a security interest in a deposit account perfected by control under Section
7-9A-104(a)(1), may apply the balance of the deposit account to the...
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