Merchants & Farmers Bank of Kosciusko v. State ex rel. Moore

BANKS, Justice,

for the Court:

This is a dispute between the State of Mississippi and Merchants & Farmer’s Bank regarding the rental proceeds in the hands of the bank. The dispositive issue is whether the bank was required to give notice to the borrower before it could take possession of the rental property under the terms of the security agreements. We hold that no notice was required and that the proceeds are therefore not subject to the garnishment. Accordingly, we reverse and render.

*1061I.

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