59-9-45 - Negotiability and taxation of bonds issued under §§ 59-3-37 and 59-9-41.
§ 59-9-45. Negotiability and taxation of bonds issued under §§ 59-3-37 and 59-9-41.
Any bonds, interest coupons, interim certificates or other obligations issued under the provisions of Sections 59-9-37 and 59-9-41 shall have all the qualities and incidents of negotiable instruments under the provisions of the Mississippi Uniform Commercial Code, provided that it shall not be necessary to file any financing statements or continuation statements to perfect or protect the security of the holders of such bonds or to give notice to third parties of the existence of such security. Such bonds and income therefrom shall be exempt from all taxation within the State of Mississippi.
Sources: Codes, 1942, § 7605-14; Laws, 1956, ch. 199, § 14; Laws, 1958, ch. 226, § 8; Laws, 1962, ch. 395, § 1; Laws, 1976, ch. 416, § 4, eff from and after passage (approved May 2, 1976).