SEC. 79-12-5. Interpretation of "knowledge" and "notice."

(1) A person has "knowledge" of a fact within the meaning of this chapter not only when he has actual knowledge thereof, but also when he has knowledge of such other facts as in the circumstances shows bad faith.

(2) A person has "notice" of a fact within the meaning of this chapter when the person who claims the benefit of the notice:

(a) States the fact to such person, or

(b) Delivers through the mail, or by other means of communication, a written statement of the fact to such person or to a proper person at his place of business or residence.

SOURCES: Laws, 1976, ch. 407, Sec. 3, eff from and after April 1, 1977.

 1997 Amendment:

 SECTION 9. Section 79-12-5, Mississippi Code of 1972, is amended as follows:

 79-12-5. (1) A person has "knowledge" of a fact within the meaning of this chapter not only when he has actual knowledge thereof, but also when he has knowledge of such other facts as in the circumstances shows bad faith.

 (2) A person has "notice" of a fact within the meaning of this chapter when the person who claims the benefit of the notice:

 (a) States the fact to such person, or

 (b) Delivers * * * a written statement of the fact to such person or to a proper person at his place of business or residence, or

 (c) By other method of delivery or by telephone, voice mail or other electronic means at his place of business or residence.

SOURCE: 1997 Laws, Chapter 418, Sec. 9, HB1313, Effective July 1, 1997.