SB2119

Revises Mississippi's Uniform Commercial Code to align with 2018 and 2022 amendments, including definitions and rules on security interests.

Mississippi SB2119 revises the Uniform Commercial Code to incorporate the 2018 and 2022 amendments. It updates definitions and provisions regarding security interests, electronic records, and the priority of claims. Key changes include clarifying when a security interest does not attach under an after-acquired property clause, specifying rules for perfecting security interests in electronic records, and establishing the priority of claims when certain conditions are met. The bill also repeals existing provisions that conflict with these updates.