MS HB1367

Prohibits contracts for purchasing goods from containing provisions that allow repossession of property other than the collateral subject to the contract.

Requires repossessing parties to return any property not subject to the contract within three (3) days of repossession.

Amends Mississippi Code Section 75-9-609 to make repossession subject to the restrictions in Section 1 of this bill.

Amends Mississippi Code Section 75-9-610 to make collateral disposal subject to the restrictions in Section 1 of this bill.

Takes effect July 1, 2011.