Mississippi Code
Part 4 - . Rights of Third Parties
§ 75-9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest

Except as otherwise provided in subsection (b), a term in a lease agreement is ineffective to the extent that it:
Except as otherwise provided in Section 75-2A-303(7), a term described in subsection (a)(2) is effective to the extent that there is:
A transfer by the lessee of the lessee's right of possession or use of the goods in violation of the term; or
A delegation of a material performance of either party to the lease contract in violation of the term.
The creation, attachment, perfection, or enforcement of a security interest in the lessor's interest under the lease contract or the lessor's residual interest in the goods is not a transfer that materially impairs the lessee's prospect of obtaining return performance or materially changes the duty of or materially increases the burden or risk imposed on the lessee within the purview of Section 75-2A-303(4) unless, and then only to the extent that, enforcement actually results in a delegation of material performance of the lessor.

Structure Mississippi Code