Bill Text: MS HB908 | 2013 | Regular Session | Engrossed
Bill Title: Crime; create offense of selling timber or minerals on mortgaged property without notifying holder of mortgage.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2013-03-05 - Died In Committee [HB908 Detail]
Download: Mississippi-2013-HB908-Engrossed.html
MISSISSIPPI LEGISLATURE
2013 Regular Session
To: Judiciary B
By: Representative Reynolds
House Bill 908
(As Passed the House)
AN ACT TO PROHIBIT THE SALE OF TIMBER OR MINERALS WHICH ARE SUBJECT TO A MORTGAGE WITHOUT NOTIFYING THE HOLDER OF THE MORTGAGE; TO PROVIDE PENALTIES FOR VIOLATIONS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Any person who shall sell any timber or gravel on owner financed mortgaged property if such timber or gravel are part of the security interest of the mortgage without notifying the holder of the mortgage and receiving their permission shall be guilty of a misdemeanor and, upon conviction, shall be fined One Thousand Dollars ($1,000.00) or imprisoned in the county jail for up to six (6) months, or both. In addition to such fine and imprisonment, any person convicted under this section shall pay restitution for the total costs of the value of such timber or gravel and the restitution shall apply to the outstanding balance on the mortgage. The provisions of this section shall not apply to after-acquired property unless specifically agreed to by the parties.
SECTION 2. This act shall take effect and be in force from and after July 1, 2013.
