Mississippi Code
Miss. Code Ann. § 75-9-312 (2026)
Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing
✓ current as of July 2026
- (a) A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing.
- (b) Except as otherwise provided in Section 75-9-315(c) and (d) for proceeds:
- (1) A security interest in a deposit account may be perfected only by control under Section 75-9-314;
- (2) And except as otherwise provided in Section 75-9-308(d), a security interest in a letter-of-credit right may be perfected only by control under Section 75-9-314; and
- (3) A security interest in money may be perfected only by the secured party's taking possession under Section 75-9-313.
- (c) While goods are in the possession of a bailee that has issued a negotiable document covering the goods:
- (1) A security interest in the goods may be perfected by perfecting a security interest in the document; and
- (2) A security interest perfected in the document has priority over any security interest that becomes perfected in the goods by another method during that time.
- (d) While goods are in the possession of a bailee that has issued a nonnegotiable document covering the goods, a security interest in the goods may be perfected by:
- (1) Issuance of a document in the name of the secured party;
- (2) The bailee's receipt of notification of the secured party's interest; or
- (3) Filing as to the goods.
- (e) A security interest in certificated securities, negotiable documents, or instruments is perfected without filing or the taking of possession or control for a period of twenty (20) days from the time it attaches to the extent that it arises for new value given under an authenticated security agreement.
- (f) A perfected security interest in a negotiable document or goods in possession of a bailee, other than one that has issued a negotiable document for the goods, remains perfected for twenty (20) days without filing if the secured party makes available to the debtor the goods or documents representing the goods for the purpose of:
- (1) Ultimate sale or exchange; or
- (2) Loading, unloading, storing, shipping, transshipping, manufacturing, processing, or otherwise dealing with them in a manner preliminary to their sale or exchange.
- (g) A perfected security interest in a certificated security or instrument remains perfected for twenty (20) days without filing if the secured party delivers the security certificate or instrument to the debtor for the purpose of:
- (1) Ultimate sale or exchange; or
- (2) Presentation, collection, enforcement, renewal or registration of transfer.
- (h) After the twenty-day period specified in subsection (e), (f), or (g) expires, perfection depends upon compliance with this article.
Former 1972 Code § 75-9-312 [Codes, 1942, § 41A:9-312; Laws, 1966, ch. 316, § 9-312; Laws, 1977, ch. 452, § 21; Laws, 1986, ch. 343, § 2; Laws, 1990, ch. 384, § 54; Laws, 1996, ch. 468, § 69; is now found in comparable provisions enacted at §§ 75-9-322 through 75-9-324 by Laws, 2001, ch. 495, § 1. Present § 75-9-312 was derived from former 1972 Code §§ 75-9-115 [Laws, 1996, ch. 468, § 59] and 75-9-304 [Codes, 1942, § 41A:9-304; Laws, 1966, ch. 316, § 9-304; Laws, 1977, ch. 452, § 16; Laws, 1990, ch. 384, § 51; Laws, 1996, ch. 460, § 25; Laws, 1996, ch. 468, § 65] and was enacted by Laws, 2001, ch. 495, § 1; Laws, 2006, ch. 527, § 65, eff. 7/1/2006.
Notes of Decisions
Cited in 4
cases, 1985–2004 · leading case: Crosby v. Peoples Bank of Indianola, 472 So. 2d 951 (Miss. 1985).
Crosby v. Peoples Bank of Indianola, 472 So. 2d 951 (Miss. 1985). “If that be so, the first-to-be-perfect rule of Miss.Code Ann. § 75-9-312(5)(a) (1972) comes into play and the bank still loses, viz.”
St. Paul Mercury Ins. Co. v. Merchants & Marine Bank (Miss. 2003). “Miss. Code Ann. § 75-9-312 (5)(a) (1972).”
St. Paul Mercury Ins. Co. v. Merchants & Marine Bank, 882 So. 2d 766 (Miss. 2004). “Miss.Code Ann. § 75-9-312(5)(a) (1972). The Legislature required the filing of a financing statement as a means of implementing a simple procedure which would provide notice.”
Flora Compress & Warehouse Co. v. Virden, 642 F. Supp. 466 (S.D. Miss. 1986). “See generally Miss.Code Ann. §§ 75-9-312(5), 75-9-401(l)(a); United States v.”
— Miss. Code Ann. § 75-9-312(5) — 1 case
Flora Compress & Warehouse Co. v. Virden, 642 F. Supp. 466 (S.D. Miss. 1986). “See generally Miss.Code Ann. §§ 75-9-312(5), 75-9-401(l)(a); United States v.”
— Miss. Code Ann. § 75-9-312(5)(a) — 2 cases
Crosby v. Peoples Bank of Indianola, 472 So. 2d 951 (Miss. 1985). “If that be so, the first-to-be-perfect rule of Miss.Code Ann. § 75-9-312(5)(a) (1972) comes into play and the bank still loses, viz.”
St. Paul Mercury Ins. Co. v. Merchants & Marine Bank, 882 So. 2d 766 (Miss. 2004). “Miss.Code Ann. § 75-9-312(5)(a) (1972). The Legislature required the filing of a financing statement as a means of implementing a simple procedure which would provide notice.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.