Mississippi Code
Subpart 1 - Effectiveness and Attachment
§ 75-9-205. Use or disposition of collateral permissible

A security interest is not invalid or fraudulent against creditors solely because:
Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;
Collect, compromise, enforce, or otherwise deal with collateral;
Accept the return of collateral or make repossessions; or
Use, commingle, or dispose of proceeds; or
This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.

Structure Mississippi Code