Bill Text: MS HB840 | 2010 | Regular Session | Introduced
Bill Title: Sales under execution; reduce time period during which those sales may be held.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2010-02-02 - Died In Committee [HB840 Detail]
Download: Mississippi-2010-HB840-Introduced.html
MISSISSIPPI LEGISLATURE
2010 Regular Session
To: Judiciary A
By: Representative Holloway (By Request)
House Bill 840
AN ACT TO AMEND SECTIONS 11-5-99 AND 13-3-169, MISSISSIPPI CODE OF 1972, TO REDUCE THE TIME PERIOD DURING WHICH SALES OF REAL ESTATE BY COURT ORDER AND SALES UNDER EXECUTION MAY BE HELD; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 11-5-99, Mississippi Code of 1972, is amended as follows:
11-5-99. A sale of real estate shall not begin before the hour of eleven o'clock (11:00 a.m.) on the day appointed, nor continue later than two o'clock (2:00 p.m.) of the same day. However, if the time is insufficient to complete the sale, it may be continued from day to day until completed, by giving public notice to the company present at the conclusion of each day's sale; and the sale on the succeeding days shall begin and end as directed for the first day.
SECTION 2. Section 13-3-169, Mississippi Code of 1972, is amended as follows:
13-3-169. (1) Except as otherwise provided in this section, sales under execution shall not begin before the hour of eleven o'clock (11:00 a.m.), nor continue later than two o'clock (2:00 p.m.) of the day on which the sale is held. All those sales shall be by auction, to the highest bidder for cash, and only so much of the property levied on shall be sold as will satisfy the execution and costs.
(2) Sales under execution conducted by a special agent of the Department of Revenue pursuant to a warrant, jeopardy warrant or alias warrant issued by * * * the Commissioner of Revenue, shall begin and be conducted at the times specified by the commissioner or his duly authorized agent. All those sales shall be by auction to the highest bidder for cash or for cash equivalent deemed acceptable by the commissioner. Only so much of the property levied on shall be sold as will satisfy the execution and costs.
SECTION 3. This act shall take effect and be in force from and after July 1, 2010.
