MS SB2861

Adds definitions to self-storage lien laws including "electronic mail," "late fee," "sale," and "verified mail" to clarify procedures for enforcing liens on stored personal property

Authorizes owners to charge a reasonable late fee of no more than $20 or 20% of monthly rental amount (whichever is greater) for failure to timely pay rent

Revises notice procedures to allow owners to deliver default notices by verified mail or electronic mail instead of certified mail only, and permits electronic mail notices if occupant elects this method in rental agreement

Expands sale advertisement methods from newspaper publication to "any commercially reasonable manner" likely to attract at least three independent bidders, including online sales platforms

Permits owners to have vehicles, watercraft, or trailers towed after 60 days of unpaid rent without releasing the lien, requiring 10 days' notice to occupant before towing

Takes effect July 1, 2020