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Can you summarize 75 MSCO Chapter 9?
Regulation of Trade, Commerce and Investments > Uniform Commercial CodeSecured Transactions
Short Summary
The provided legal document, Mississippi Code 1972, Regulation of Trade, Commerce and Investments, specifically focuses on the Uniform Commercial CodeSecured Transactions. It governs the rules and regulations related to secured transactions, including the creation, perfection, and enforcement of security interests in personal property. The document applies to all parties involved in secured transactions, including creditors, debtors, and other interested parties. It provides guidelines for the creation, perfection, and enforcement of security interests in personal property, as well as covering various aspects such as agricultural liens, conditional sales, leases, real estate contracts, and the sale of accounts or chattel paper. The document also includes tables indicating sources or derivations of revised Article 9 sections and conforming amendments. It is important for entities involved in trade, commerce, and investments in Mississippi to be aware of the changes and updates in the Uniform Commercial CodeSecured Transactions as outlined in this document.
Whom does it apply to?
The Uniform Commercial CodeSecured Transactions applies to all parties involved in secured transactions, including creditors, debtors, and other interested parties.
What does it govern?
The Uniform Commercial CodeSecured Transactions governs the rules and regulations related to secured transactions, including the creation, perfection, and enforcement of security interests in personal property.
What are exemptions?
Exemptions to the applicability of Article 9 of the Mississippi Code 1972 include situations where federal law preempts it or when another state or foreign country has specific statutes governing security interests. Additionally, there are exemptions for consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Mississippi