MS HB1007

Amends Mississippi's Uniform Commercial Code Articles 2, 4A, and 9 to conform to 2010 revisions adopted by the American Law Institute and National Conference of Commissioners on Uniform State Laws, effective July 1, 2013.

Modifies definitions and rules for secured transactions, including changes to how security interests in electronic chattel paper are perfected and how debtor names must be provided in financing statements.

Updates provisions governing perfection and priority of security interests in collateral, including rules for debtor name changes, transfers between jurisdictions, and continuation of financing statements.

Clarifies protections for account debtors regarding assignment notifications and restrictions on anti-assignment clauses in payment intangibles and general intangibles.

Establishes transition rules for financing statements filed before July 1, 2013, allowing existing filings to continue effectiveness if proper continuation procedures are followed within specified timeframes.