Miss. Code § 75-9-309

Current through the 2024 Regular Session

Section 75-9-309 - 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 75-9-311(b) with respect to consumer goods that are subject to a statute or treaty described in Section 75-9-311(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 75-2-401, 75-2-505, 75-2-711(3), or 75-2A-508(5), until the debtor obtains possession of the collateral;

(7) A security interest of a collecting bank arising under Section 75-4-210;

(8) A security interest of an issuer or nominated person arising under Section 75-5-118;

(9) A security interest arising in the delivery of a financial asset under Section 75-9-206(c);

(10) A security interest in investment property created by a broker or securities intermediary;

(11) A security interest in a commodity contract or a commodity account created by a commodity intermediary;

(12) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder;

(13) A security interest created by an assignment of a beneficial interest in a decedent's estate; and

(14) A sale by an individual of an account that is a right to payment of winnings in a lottery or other game of chance.

Miss. Code § 75-9-309

Former 1972 Code § 75-9-309 [Codes, 1942, § 41A:9-309; Laws, 1966, ch. 316, § 9-309; Laws, 1990, ch. 384, § 53; Laws, 1996, ch. 468, § 68, eff. 7/1/1996] is now found in comparable provisions enacted at § 75-9-331 by Laws, 2001, ch. 495, § 1. Present § 75-9-309 was derived from former 1972 Code §§ 75-9-115 [Laws, 1996, ch. 468, § 59, eff. 7/1/1996], 75-9-116 [Laws, 1996, ch. 468, § 60, eff. 7/1/1996], and 75-9-302 [Codes, 1942, § 41A:9-302; Laws, 1966, ch. 316, § 9-302; Laws, 1977, ch. 452, § 15; Laws, 1986, ch. 401, § 1; Laws, 1990, ch. 384, § 50; Laws, 1996, ch. 468, § 62, eff. 7/1/1996] and was enacted by Laws, 2001, ch. 495, § 1; Laws, 2002, ch. 453, § 7, eff. 3/20/2002.