59-5-43 - Negotiability of bonds; exemption from taxation. - Mississippi Statutes

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§ 59-5-43. Negotiability of bonds; exemption from taxation.

All bonds and interest coupons issued under the provisions of this chapter shall be and are hereby declared to have all the qualities and incidents of negotiable instruments under the provisions of the Mississippi Uniform Commercial Code and in exercising the powers granted by this chapter, the board and/or state bond commission shall not be required to and need not comply with the provisions of the Uniform Commercial Code. Such bonds and income therefrom shall be exempt from all taxation within the State of Mississippi.

Sources: Codes, 1942, § 7564-16; Laws, 1958, ch. 365, § 16; Laws, 1967, Ex. Sess. ch. 7, § 3, eff from and after passage (approved June 29, 1967).

State Codes and Statutes

Statutes > Mississippi > Title-59 > 5 > 59-5-43

§ 59-5-43. Negotiability of bonds; exemption from taxation.

All bonds and interest coupons issued under the provisions of this chapter shall be and are hereby declared to have all the qualities and incidents of negotiable instruments under the provisions of the Mississippi Uniform Commercial Code and in exercising the powers granted by this chapter, the board and/or state bond commission shall not be required to and need not comply with the provisions of the Uniform Commercial Code. Such bonds and income therefrom shall be exempt from all taxation within the State of Mississippi.

Sources: Codes, 1942, § 7564-16; Laws, 1958, ch. 365, § 16; Laws, 1967, Ex. Sess. ch. 7, § 3, eff from and after passage (approved June 29, 1967).

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State Codes and Statutes

Statutes > Mississippi > Title-59 > 5 > 59-5-43

§ 59-5-43. Negotiability of bonds; exemption from taxation.

All bonds and interest coupons issued under the provisions of this chapter shall be and are hereby declared to have all the qualities and incidents of negotiable instruments under the provisions of the Mississippi Uniform Commercial Code and in exercising the powers granted by this chapter, the board and/or state bond commission shall not be required to and need not comply with the provisions of the Uniform Commercial Code. Such bonds and income therefrom shall be exempt from all taxation within the State of Mississippi.

Sources: Codes, 1942, § 7564-16; Laws, 1958, ch. 365, § 16; Laws, 1967, Ex. Sess. ch. 7, § 3, eff from and after passage (approved June 29, 1967).