79-4-1.23. Effective time and date of document.

MISSISSIPPI CODE OF 1972 As Amended

SEC. 79-4-1.23. Effective time and date of document.

(a) Except as provided in subsection (b) and Section 79-4-1.24 (c), a document accepted for filing is effective:

(1) At the time of filing on the date it is filed, as evidenced by the Secretary of State's date and time endorsement on the original document; or

(2) At the time specified in the document as its effective time on the date it is filed.

(b) A document may specify a delayed effective time and date, and if it does so the document becomes effective at the time and date specified. If a delayed effective date but no time is specified, the document is effective at the close of business on that date. A delayed effective date for a document may not be later than the ninetieth day after the date it is filed.

(c) Notwithstanding subsections (a) and (b) of this section, any document that has a delayed effective time and date shall not become effective if, prior to the effective time and date, a statement of withdrawal is filed with the Secretary of State.

SOURCES: Laws, 1987, ch. 486, Sec. 1.23; 1994, ch. 417 Sec. 5, eff from and after July 1, 1994.

1997 Amendment:

SECTION 2. Section 79-4-1.23, Mississippi Code of 1972, is amended as follows:

79-4-1.23. (a) Except as provided in subsection (b) and Section 79-4-1.24(c), a document accepted for filing is effective:

(1) At the date and time of filing * * *, as evidenced by such means as the Secretary of State may use for the purpose of recording the date and time of filing; or

(2) At the time specified in the document as its effective time on the date it is filed.

SOURCE: 1997 Laws, Chapter 418, Sec. 2, HB1313, Effective July 1, 1997.

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