When partial payments are made, the interest that has accrued to the time of payment, if any, shall be first paid, and the residue of such partial payment shall be placed to the payment of the principal, except that the parties may agree in writing that such partial payment, or any portion thereof, shall be applied first to the payment of principal, in which case the residue shall be applied to the payment of interest that has accrued to the time of payment.
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 17 - Interest, Finance Charges, and Other Charges
§ 75-17-3. Evasion of six percent interest law; interest forfeited if higher rate secretly exacted
§ 75-17-5. Discount, interest, bank issues
§ 75-17-7. Interest on judgments and decrees
§ 75-17-9. Partial payments applied
§ 75-17-17. Law governing loans made or credit extended prior to July 1, 1974
§ 75-17-23. Maximum finance charges in connection with sales of factory manufactured moveable homes
§ 75-17-27. Late payment charges
§ 75-17-29. Prohibition against use of multiple agreements to obtain excessive finance charge
§ 75-17-31. Limitations on prepayment penalties with respect to loans for certain real estate
§ 75-17-35. Computation of interest on refunds of excess rates by public utilities