MISSISSIPPI LEGISLATURE
2013 Regular Session
To: Judiciary A
By: Representative Holloway
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 commence before the hour of * * * 11:00 a.m. on the day
appointed, nor continue * * * longerlater than * * * 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 such sale on the succeeding day shall commence 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 commence
sooner than 11:00 a.m., nor continue later than * * * 2:00 p.m. of the day on which the
sale is held. All such 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 commence and be conducted at the times specified by the
Chairman of the State Tax Commission or his duly authorized agent. All such
sales shall be by auction to the highest bidder for cash or for cash equivalent
deemed acceptable by the * * * Chairman of the State Tax Commissioncommissioner. 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, 2013.