Miss. Code Ann. § 75-9-317 (2026)

• (a) A security interest or agricultural lien is subordinate to the rights of:
  • (1) A person entitled to priority under Section 75-9-322; and
  • (2) Except as otherwise provided in subsection (e), a person that becomes a lien creditor before the earlier of the time:
    • (A) The security interest or agricultural lien is perfected; or
    • (B) One (1) of the conditions specified in Section 75-9-203(b)(3) is met and a financing statement covering the collateral is filed.

• (b) Except as otherwise provided in subsection (e), a buyer, other than a secured party, of tangible chattel paper, documents, goods, instruments, or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.

• (c) Except as otherwise provided in subsection (e), a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.

• (d) A licensee of a general intangible or a buyer, other than a secured party, of collateral other than tangible chattel paper, tangible documents, goods, instruments, or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.

• (e) Except as otherwise provided in Sections 75-9-320 and 75-9-321, if a person files a financing statement with respect to a purchase-money security interest before or within twenty (20) days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditor which arise between the time the security interest attaches and the time of filing.

Former 1972 Code § 75-9-317 [Codes, 1942, § 41A:9-317; Laws, 1966, ch. 316, § 9-317 is now found in comparable provisions enacted at § 75-9-402 by Laws, 2001, ch. 495, § 1. Present § 75-9-317 was derived from 1972 Code § 75-2A-307 [Laws, 1994, ch. 445, § 1 and former 1972 Code § 75-9-301 [Codes, 1942, § 41A:9-301; Laws, 1966, ch. 316, § 9-301; Laws, 1977, ch. 452, § 14; Laws, 1986, ch. 343, § 1; Laws, 1996, ch. 468, § 62 and was enacted by Laws, 2001, ch. 495, § 1; Laws, 2006, ch. 527, § 68, eff. 7/1/2006.

Amended by Laws, 2013, ch. 451, SB 2609, 8, eff. 7/1/2013.