85-7-183 - Assignments by contractor prohibited. - Mississippi Statutes

§ 85-7-183. Assignments by contractor prohibited.
 

No contractor or master workman except as hereinafter provided, shall have the right to assign, transfer, or otherwise dispose of in any way, the contract or the proceeds thereof, to the detriment or prejudice of the subcontractors, journeymen, laborers, and materialmen as declared hereinbefore and all such assignments, transfers, or dispositions shall be subordinate to the said rights of the subcontractors, journeymen, laborers and materialmen, as well as the owner. Provided, however, that this section shall not apply to any contract or agreement where the contractor or the master workman shall enter into a solvent bond conditioned as provided for in the following section. 
 

Sources: Codes, Hemingway's 1921 Supp. § 2434a; 1930, § 2275; 1942, § 373; Laws,  1918, ch. 128.