The buyer may transfer his equity in the motor vehicle at any time to another person upon agreement by the holder, and, in such event, the holder of the contract shall be entitled to charge and collect a transfer of equity fee which shall not exceed fifteen dollars ($15.00). No transfer of equity fee shall be charged or collected unless the holder of the contract shall, in writing, release the transferor from all further liability under such contract.
Miss. Code Ann. § 63-19-37
Transfer of equity in motor vehicle; transfer fee
Known as the The Motor Vehicle Sales Finance Law
The act spans §§ 63–63 (31 sections).
Codes, 1942, § 8075-13; Laws, 1958, ch. 495, § 26, eff from and after 90 days after passage (approved April 22, 1958
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.