37-101-311 - Negotiability of bonds and coupons; tax exemption. - Mississippi Statutes

§ 37-101-311. Negotiability of bonds and coupons; tax exemption.
 

All bonds and interest coupons issued under the provisions of Sections 37-101-301 through 37-101-331 shall be and are hereby declared to have all the qualities and incidents of negotiable instruments under the provisions of the Uniform Commercial Code and in exercising the powers granted by Sections 37-101-301 through 37-101-331, the State Bond Commission shall not be required to and need not comply with the provisions of the Uniform Commercial Code. Such bonds and income therefrom shall be exempt from all taxation within the State of Mississippi. 
 

Sources: Laws,  1988, ch. 510, § 6, eff from and after passage (approved May 12, 1988).