MS SB2873

Defines "open account" as any commercial transaction involving sale of goods and provision of services based on an oral promise or written terms not agreed to in writing by the account debtor.

Requires account creditors to send written demand for payment to a current address of the account debtor using: registered/certified mail, priority mail/express mail, commercial delivery service, email with delivery receipt, or hand delivery with affidavit.

Allows account creditors to satisfy the current address requirement by sending demand to an entity's address or registered agent address on file with a state's Secretary of State.

Permits account debtors who fail to pay within 30 days of receiving written demand to be liable for reasonable attorney's fees, expenses, and costs set by the court.

Takes effect July 1, 2020.