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Mississippi Code, Volume 16, 2012 Supplement PDF

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2012 CUMULATIVE SUPPLEMENT TO CODE MISSISSIPPI ANNOTATED 1972 Issued September, 2012 CONTAINING PERMANENT PUBLIC STATUTES OF MISSISSIPPI ENACTED THROUGH 2012 REGULAR SESSION PUBLISHED BYAUTHORITY OF THE LEGISLATURE SUPPLEMENTING Volume 16 (As Revised 2002) For latest statutes or assistance call 1-800-833-9844 By the Editorial Staffofthe Publisher LexisNexis QUESTIONSABOUT THIS PUBLICATION? ForEDITORIALQUESTIONSconcerningthispublication, orREPRINTPERMISSION,pleasecall: 800-833-9844 ForCUSTOMERSERVICEASSISTANCE concerningreplacementpages, shipments,billingorother matters,pleasecall: CustomerServiceDepartmentat 800-833-9844 OutsidetheUnitedStatesandCanada 518-487-3000 FAX 518-487-3584 ForINFORMATIONONOTHERMATTHEWBENDERPUBLICATIONS, pleasecall: Youraccountmanageror 800-223-1940 OutsidetheUnited States andCanada 518-487-3000 Copyright © 2012 by THE STATE OF MISSISSIPPI All rights reserved. LexisNexis and the Knowledge Burst logo are registered trademarks, and Michie is a trademarkofReed Elsevier Properties, Inc., used underlicense. Matthew Bender is a registered trademark ofMatthew Bender Properties, Inc. 5461823 ISBN 978-0-327-09628-3 (Code set) ISBN 978-0-327-02089-9 (Volume 16) " LexisNexis Matthew Bender & Company, Inc. 701 E. Water Street, Charlottesville, VA22902-5389 www.lexisnexis.com (Pub.44510) User's Guide Inorderto assistboththelegal profession andthelaymaninobtainingthe maximumbenefitfromthe Mississippi Code of1972Annotated, aUser's Guide has been included in the main volume. This guide contains comments and information on the many features found within the Code intended to increase the usefulness ofthe Code to the user. 111 Digitized by the Internet Archive 2013 in http://archive.org/details/govlawmssupp162012 PUBLISHER'S FOREWORD Statutes The 2012 Supplement to the Mississippi Code of 1972 Annotated reflects the statute law of Mississippi as amended by the Mississippi Legislature through the end ofthe 2012 Regular Session. Annotations Case annotations are included based on decisions ofthe State and federal courts in cases arising in Mississippi. Annotations to collateral research references are also included. To better serve our customers by making our annotations more current, LexisNexishas changedthe sources that arereadto create annotations forthis publication. Rather than waiting for cases to appear in printed reporters, we now read court decisions as they are released by the courts. Aconsequence of this more current reading ofcases, as they are posted online on LexisNexis, is thatthemostrecentcases annotatedmaynotyethaveprintreportercitations. These will be provided, as they become available, through later publications. This publication contains annotations taken from decisions ofthe Missis- sippi Supreme Court andthe CourtofAppeals and decisions ofthe appropriate federal courts. These cases will be printed in the following reporters: Southern Reporter, 3rd Series United States Supreme Court Reports Supreme Court Reporter United States Supreme Court Reports, Lawyers' Edition, 2nd Series Federal Reporter, 3rd Series Federal Supplement, 2nd Series Federal Rules Decisions Bankruptcy Reporter Additionally, annotations have been taken from the following sources: American Law Reports, 6th Series American Law Reports, Federal Series Mississippi College Law Review Mississippi Law Journal Finally, published opinions of the Attorney General and opinions of the Ethics Commission have been examined for annotations. Amendment Notes Amendment notes detail how the new legislation affects existing sections. Editor's Notes Editor's notes summarize subject matter and legislative history of re- pealed sections, provide information as to portions oflegislative acts thathave not been codified, or explain other pertinent information. Publisher's Foreword Joint Legislative Committee Notes Joint Legislative Committee notes explain codification decisions and corrections ofCode errors made by the Mississippi Joint Legislative Commit- tee on Compilation, Revision, and Publication ofLegislation. Tables The StatutoryTablesvolume adds tables showingdisposition oflegislative acts through the 2012 Regular Session. Index The comprehensive Index to the Mississippi Code of 1972 Annotated is replaced annually, and we welcome customer suggestions. The foreword to the Index explains our indexing principles, suggests guidelines for successful index research, and provides methods for contacting indexers. Acknowledgements The publisher wishes to acknowledge the cooperation and assistance rendered by the Mississippi Joint Legislative Committee on Compilation, Revision, and Publication ofLegislation, as well as the offices ofthe Attorney General and Secretary ofState, in the preparation ofthis supplement. User Information Visit the LexisNexis website at http://www.lexisnexis.com for an online bookstore, technical support, customer support, and other company informa- tion. For further information or assistance, please call us toll-free at (800) 833-9844, fax us toll-free at (800) 643-1280, e-mail us at [email protected], or write to: Mississippi Code Editor, LexisNexis, 701 E. Water Street, Charlottesville, VA 22902-5389. September 2012 LexisNexis VI SCHEDULE OF NEW SECTIONS Added in this Supplement TITLE 75. REGULATION OF TRADE, COMMERCEAND INVESTMENTS — CHAPTER 1. Uniform Commercial Code RevisedArticle 1. General Provisions PART 1. General Provisions Sec. 75-1-101. Short title. 75-1-102. Scope ofarticle. 75-1-103. Construction ofUniform Commercial Code to promote its purposes and policies; applicability ofsupplemental principles oflaw. 75-1-104. Construction against implied repeal. 75-1-105. Severability. 75-1-106. Use ofsingular and plural; gender. 75-1-107. Section captions. 75-1-108. RelationtoElectronicSignaturesinGlobalandNationalCommerceAct. PART 2. General Definitions and Principles ofInterpretation 75-1-201. General definitions. 75-1-202. Notice; knowledge. 75-1-203. Lease distinguished from security interest. 75-1-204. Value. 75-1-205. Reasonable time; seasonableness. 75-1-206. Presumptions. PART 3. TerritorialApplicability and General Rules 75-1-301. Territorial application of the code; parties' power to choose applicable law. 75-1-302. Variation by agreement. 75-1-303. Course ofperformance, course ofdealing, and usage oftrade. 75-1-304. Obligation ofgood faith. 75-1-305. Remedies to be liberally administered. 75-1-306. Waiver or renunciation ofclaim or right after breach. 75-1-307. Prima facie evidence by third-party documents. 75-1-308. Performance or acceptance under reservation ofrights. 75-1-309. Option to accelerate at will. 75-1-310. Subordinated obligations. 2012 Supplement CODE MISSISSIPPI 1972 ANNOTATED VOLUME SIXTEEN TITLE 75 REGULATION OF TRADE, COMMERCE AND INVESTMENTS — Chapter 1. Uniform Commercial Code Revised Article 1. General Provisions — 75-1-101 Chapter 2. Uniform Commercial Code — Sales 75-2-101 Chapter 2A. Uniform Commercial Code — Leases 75-2A-101 Chapter 3. Uniform Commercial Code Negotiable Instruments 75-3-101 CHAPTER 1 — Uniform Commercial Code RevisedArticle 1. General Provisions Part 1. General Provisions 75-1-101 Part 2. General Definitions and Principles ofInterpretation 75-1-201 Part 3. TerritorialApplicability and General Rules 75-1-301 — Editor's Note Section 44 of Chapter 506, Laws of2010, effective July 1, 2010, repealedthe sections formerlycodified as Uniform Commercial CodeArticle 1, General Provisions [Chapter 1 ofTitle 75]. Section 3 ofChapter 506, Laws of2010, enacted a revised Uniform Commercial Code RevisedArticle 1, General Provisions [Chapter 1 of Title 75], effective July 1, 2010. Thefollowingtables ofdispositionlisttheprovisions ofUCCArticle 1 astheyexisted prior to July 1, 2010, and the corresponding provisions in UCC Revised Article 1, effectiveJuly 1, 2010. These tables are intendedto assistthe userwho is familiarwith the former Article 1 in finding comparable new provisions in Revised Article 1. In addition, where appropriate, the Source lines from the former provisions have been retained in the new provisions. Where appropriate, notes tojudicial decisions have been moved from their location under former provisions to the comparable new provisions. TABLE OF DISPOSITION OF SECTIONS IN FORMERARTICLE 1 FORMERARTICLE REVISEDARTICLE 1 1 75-1-101 75-1-101 75-1-102(1), (2) 75-1-103 75-1-102(3), (4) 75-1-302 75-1-102(5) 75-1-106 75-1-103 75-1-103 2012 Supplement 3 Trade, Commerce, Investments FORMERARTICLE 1 REVISEDARTICLE 1 75-1-104 75-1-104 75-1-105 75-1-301 75-1-106 75-1-305 75-1-107 75-1-306 75-1-108 75-1-105 75-1-109 75-1-107 75-1-110 None 75-1-20K1M20), (22)-(24), (28)-(30), (32)- 75-1-201 (36), (38M40), (42H43) and (45)-(46) 75-1-201(21) ("honor"), (41)("telegram") Omitted 75-l-201(25)-(27) 75-1-202 75-1-201(31) 75-1-206 75-1-201(37) 75-1-203 75-1-201(44) 75-1-204 75-1-202 75-1-307 75-1-203 75-1-304 75-1-204(1) 75-l-302(b) 75-1-204(2), (3) 75-1-205 75-1-205 75-1-303 75-1-206 None 75-1-207 75-1-308 75-1-208 75-1-309 TABLE INDICATING SOURCES ORDERIVATIONS OF REVISEDARTICLE 1 SECTIONS NEWARTICLE OLD ARTICLE 1 1 75-1-101 75-1-101 75-1-102 (New) No corresponding provision 75-1-103 75-1-102(1), (2) and 75-1-103 75-1-104 75-1-104 75-1-105 75-1-108 75-1-106 75-1-102(5) 75-1-107 75-1-109 75-1-108 (New) No corresponding provision 75-1-201 75-1-20K1M20), (22M24), (28)-(30), (32)- (36), (38M40), (42M43) and (45)-(46) 75-1-202 75-1-201 (25M27) 75-1-203 75-1-201(37) 75-1-204 75-1-201(44) 75-1-205 Derived from 75-1-204(2), (3) 75-1-206 75-1-201(31) 75-1-301 75-1-105 75-1-302 75-1-102(3), (4) 75-1-303 Integration offormer 75-2-208 and 75- 2A-207 into principles offormer 75-1-205 75-1-304 75-1-203 75-1-305 75-1-106 75-1-306 75-1-107 75-1-307 75-1-202 75-1-308 75-1-207 75-1-309 75-1-208 2012 Supplement

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