31-17-175 - Notes to be fully negotiable and shall be "securities" within the meaning of the Uniform Commercial Code. - Mississippi Statutes

§ 31-17-175. Notes to be fully negotiable and shall be "securities" within the meaning of the Uniform Commercial Code.
 

All notes sold and issued under Sections 31-17-151 through 31-17-181 shall be fully negotiable in accordance with their terms and shall be "securities" within the meaning of Article 8 of the Uniform Commercial Code, subject to the provisions of such notes pertaining to registration. It shall not be necessary to file financing statements or continuation statements to protect the lien and pledge granted by the state to the holders of any notes issued under Sections 31-17-151 through 31-17-181. 
 

Sources: Laws, 2004, 3rd Ex Sess, ch. 1, § 182, eff from and after passage (approved November 24, 2004.)