MS HB1419

Defines "consigned motor fuels" as gasoline, diesel, kerosene, and aviation fuels delivered by one merchant (consignor) to another (consignee) for sale, with title remaining with the consignor.

Requires a written agreement between consignor and consignee stating that title to the consigned motor fuels and proceeds from their sale remain vested in the consignor.

Makes it unlawful for any person to take, use, sell, or dispose of consigned motor fuels or their proceeds without the consignor's consent and in violation of the required written agreement.

Establishes that violation of this act constitutes larceny with penalties determined by the value of property taken under Mississippi Code Sections 97-17-41 or 97-17-43.

Effective date: July 1, 2017.