Mississippi Senate Bill 2856: Motor vehicles; prevent perfection of security interest in when subject to statutory possessory lien.

Mississippi · 2026 Regular Session

What it does

An Act To Amend Section 63-21-43, Mississippi Code Of 1972, To Provide That A Security Interest In A Motor Vehicle May Not Be Perfected While The Vehicle Is Subject To A Valid Statutory Possessory Lien; To Require A Secured Party Seeking To Perfect A Security Interest To Certify To The Department Of Revenue That No Such Possessory Lien Exists Or Obtain Written Consent From The Holder Of Such A Lien; To Provide That Any Security Interest Filed In Violation Of This Act Shall Be Unperfected Against The Holder Of The Possessory Lien And Subordinate In Priority To That Lien; To Bring Forward Sections 63-21-16, 75-9-333, 85-7-107 And 85-7-251, Mississippi Code Of 1972, For The Purpose Of Possible Amendment; And For Related Purposes.

Latest action

Died In Committee (2026-02-03)

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