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MS SB2712

Bill

Official Source

Status

Engrossed

2/12/2026

Primary Sponsor

Chris Johnson

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Authorizes small loan licensees to charge borrowers a fee for nonfiling or nonrecording insurance instead of the actual cost of recording a security instrument
  • Caps the nonrecording insurance fee at the amount charged by the Secretary of State for filing an initial financing statement (UCC1 form)
  • Applies to loans of $100 or more under Mississippi's Small Loan Regulatory Law
  • Amends Section 75-67-121 of the Mississippi Code of 1972
  • Takes effect July 1, 2026

Legislative Description

Small Loan Regulatory Law; authorize licensee to charge fee for nonrecording insurance in lieu of recording cost.

Last Action

Concurred in Amend From House

3/13/2026

Committee Referrals

Judiciary A2/16/2026
Business and Financial Institutions1/19/2026

Full Bill Text

No bill text available