Bill > HB1219

This bill amends the Small Loan Regulatory Law in Mississippi to allow lenders, who are licensed under this law, to charge a fee for nonfiling or nonrecording insurance as an alternative to the actual cost of recording a security instrument for a loan, with the fee capped at the amount charged by the Secretary of State to file an initial financing statement, commonly known as a UCC1 form. This change provides lenders with a more streamlined and potentially less expensive way to secure loans by using insurance to protect their interest in collateral instead of going through the formal recording process, which can involve actual costs.

Business and Industry

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1219.xml