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19-1A-2
Section 19-1A-2 (Effective January 1, 2018) Definitions. In this chapter, the following terms
have the following meanings: (1) "Account" means an arrangement under a terms-of-service
agreement in which a custodian carries, maintains, processes, receives, or stores a digital
asset of the user or provides goods or services to the user. (2) "Agent" means a
person granted authority to act for a principal under a power of attorney, whether denoted
an agent, attorney-in-fact, or otherwise. The term includes an original agent, co-agent, successor
agent, and person to which an agent's authority is delegated. (3) "Carries" means
engages in the transmission of an electronic communication. (4) "Catalogue of electronic
communications" means information that identifies each person with which a user has had
an electronic communication, the time and date of the communication, and the electronic address
of the person. (5) "Conservator" means a person appointed by a court to manage the
estate of a...
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35-8A-103
Section 35-8A-103 Definitions. In the declaration and bylaws, unless specifically provided
otherwise or the context otherwise requires, and in this chapter, the following terms are
defined as set forth below: (1) AFFILIATE OF A DECLARANT. Any person who controls, is controlled
by, or is under common control with a declarant. A person "controls" a declarant
if the person (i) is a general partner, officer, director, or employer of the declarant, (ii)
directly or indirectly or acting in concert with one or more other persons, or through one
or more subsidiaries, owns, controls, holds with power to vote, or holds proxies representing
more than 20 percent of the voting interest in the declarant, (iii) controls in any manner
the election of a majority of the directors of the declarant, or (iv) has contributed more
than 20 percent of the capital of the declarant. A person "is controlled by" a declarant
if the declarant (i) is a general partner, officer, director, or employer of the person,...
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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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40-23-4
Section 40-23-4 Exemptions. (a) There are exempted from the provisions of this division and
from the computation of the amount of the tax levied, assessed, or payable under this division
the following: (1) The gross proceeds of the sales of lubricating oil and gasoline as defined
in Sections 40-17-30 and 40-17-170 and the gross proceeds from those sales of lubricating
oil destined for out-of-state use which are transacted in a manner whereby an out-of-state
purchaser takes delivery of such oil at a distributor's plant within this state and transports
it out-of-state, which are otherwise taxed. (2) The gross proceeds of the sale, or sales,
of fertilizer when used for agricultural purposes. The word "fertilizer" shall not
be construed to include cottonseed meal, when not in combination with other materials. (3)
The gross proceeds of the sale, or sales, of seeds for planting purposes and baby chicks and
poults. Nothing herein shall be construed to exempt or exclude from the computation of...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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7-2A-304
Section 7-2A-304 Subsequent lease of goods by lessor. (1) Subject to Section 7-2A-303, a subsequent
lessee from a lessor of goods under an existing lease contract obtains, to the extent of the
leasehold interest transferred, the leasehold interest in the goods that the lessor had or
had power to transfer, and except as provided in subsection (2) and Section 7-2A-527(4), takes
subject to the existing lease contract. A lessor with voidable title has power to transfer
a good leasehold interest to a good faith subsequent lessee for value, but only to the extent
set forth in the preceding sentence. If goods have been delivered under a transaction of purchase,
the lessor has that power even though: (a) the lessor's transferor was deceived as to the
identity of the lessor; (b) the delivery was in exchange for a check which is later dishonored;
(c) it was agreed that the transaction was to be a "cash sale"; or (d) the delivery
was procured through fraud punishable as larcenous under the...
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7-2A-305
Section 7-2A-305 Sale or sublease of goods by lessee. (1) Subject to the provisions of Section
7-2A-303, a buyer or sublessee from the lessee of goods under an existing lease contract obtains,
to the extent of the interest transferred, the leasehold interest in the goods that the lessee
had or had power to transfer, and except as provided in subsection (2) and Section 7-2A-511(4),
takes subject to the existing lease contract. A lessee with a voidable leasehold interest
has power to transfer a good leasehold interest to a good faith buyer for value or a good
faith sublessee for value, but only to the extent set forth in the preceding sentence. When
goods have been delivered under a transaction of lease the lessee has that power even though:
(a) the lessor was deceived as to the identity of the lessee; (b) the delivery was in exchange
for a check which is later dishonored; or (c) the delivery was procured through fraud punishable
as larcenous under the criminal law. (2) A buyer in the...
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19-3A-410
Section 19-3A-410 Liquidating assets. (a) In this section, "liquidating asset" means
an asset whose value will diminish or terminate because the asset is expected to produce receipts
for a period of limited duration. The term includes a leasehold, patent, copyright, royalty
right, and right to receive payments under an arrangement that does not provide for the payment
of interest on the unpaid balance. The term does not include a payment subject to Section
19-3A-409, natural resources subject to Section 19-3A-411, timber subject to Section 19-3A-412,
an activity subject to Section 19-3A-414, an asset subject to Section 19-3A-415, or any asset
for which the fiduciary establishes a reserve for depreciation under Section 19-3A-503. (b)
A fiduciary shall allocate to income ten percent (10%) of the receipts from a liquidating
asset and the balance to principal. (Act 2000-675, p. 1343, ยง1.)...
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8-9A-8
Section 8-9A-8 Defenses, liability, and protection of transferee. (a) A transfer is not voidable
under Section 8-9A-4(a) against a person who took in good faith and for a reasonably equivalent
value or against any subsequent transferee or obligee who took in good faith. (b) Except as
otherwise provided in this section, to the extent a transfer is voidable in an action by a
creditor under Section 8-9A-7(a)(1), the creditor may recover judgment for the value of the
asset transferred, as adjusted under subsection (c), or the amount necessary to satisfy the
creditor's claim, whichever is less, or judgment for conveyance of the asset transferred.
The judgment may be entered against: (1) The first transferee of the asset or the person for
whose benefit the transfer was made; or (2) Any subsequent transferee other than a good faith
transferee who took for value or from any subsequent transferee. (c) If the judgment under
subsection (b) is based upon the value of the asset transferred, the...
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8-9B-9
Section 8-9B-9 Defenses, liability, and protection of transferee. (a) A transfer is not voidable
under Section 8-9B-5(a)(1) against a person that took in good faith and for a reasonably equivalent
value given the debtor or against any subsequent transferee that took in good faith. (b) To
the extent a transfer is avoidable in an action by a creditor under Section 8-9B-8(a)(1),
the following rules apply: (1) Except as otherwise provided in this section, the creditor
may recover judgment for the value of the asset transferred, as adjusted under subsection
(c), or the amount necessary to satisfy the creditor's claim, whichever is less. The judgment
may be entered against: (i) the first transferee of the asset or the person for whose benefit
the transfer was made; or (ii) any subsequent transferee, other than: (A) a good-faith transferee
that took for value; or (B) a subsequent transferee of a person described in clause (A). (2)
Recovery pursuant to Section 8-9B-8(a)(1) or (b) of or from...
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