In the case of motor vehicles, trailers, manufactured homes or mobile homes, notwithstanding any other provision of law, a transaction does not create a sale or security interest merely because it provides that the rental price is permitted or required to be adjusted under the agreement either upward or downward by reference to the amount realized upon sale or other disposition of the motor vehicle, trailer, manufactured home or mobile home.
Miss. Code Ann. § 63-21-42
Creation of security interest by transaction involving motor vehicle or trailers which provides for adjustment of rental price
Known as the The Mississippi Motor Vehicle and Manufactured Housing Title Law
The act spans §§ 63–63 (52 sections).
Laws, 1994, ch. 445, § 5; Laws, 1999, ch. 556, § 21, eff from and after July 1, 1999.
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.