The buyer may transfer his equity in the motor vehicle at any time to another person upon agreement by the holder, and, in such event, the holder of the contract shall be entitled to charge and collect a transfer of equity fee which shall not exceed fifteen dollars ($15.00). No transfer of equity fee shall be charged or collected unless the holder of the contract shall, in writing, release the transferor from all further liability under such contract.
Structure Mississippi Code
Title 63 - Motor Vehicles and Traffic Regulations
Chapter 19 - Motor Vehicle Sales Finance Law
§ 63-19-7. Requirement of license
§ 63-19-9. Application for license
§ 63-19-15. Specification as to location of office in license; display of license
§ 63-19-19. Liability of licensee for acts of agents
§ 63-19-21. Procedure for denial, suspension or revocation of license; judicial review
§ 63-19-23. Investigations and examinations of licensees
§ 63-19-25. Filing and examination of complaints against licensees
§ 63-19-27. Payment of expenses of examination by licensee
§ 63-19-29. Issuance of subpoenas; administration of oaths; enforcement of subpoenas, etc.
§ 63-19-31. Execution, terms and delivery of retail installment contract
§ 63-19-33. Purchase of insurance pursuant to retail installment contract
§ 63-19-35. Delinquency and collection charges; court costs and attorneys' fees
§ 63-19-37. Transfer of equity in motor vehicle; transfer fee
§ 63-19-41. Restriction of remedies of buyer against holder
§ 63-19-45. Assignment of retail installment contract
§ 63-19-47. Payment of debt in full prior to maturity
§ 63-19-51. Administration of chapter
§ 63-19-52. Administration of chapter; issuance of rules and regulations