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MERCHANTS & FARMERS BANK OF KOSCIUSKO v. STATE EX REL. MOORE

No. 92-CA-00019-SCT.

651 So.2d 1060 (1995)

MERCHANTS AND FARMERS BANK OF KOSCIUSKO, MISSISSIPPI v. STATE of Mississippi ex rel. Mike MOORE, Attorney General, and Pete Johnson, Auditor of Public Accounts, for the Use and Benefit of Rankin County, Mississippi.

Supreme Court of Mississippi.

March 9, 1995.

Attorney(s) appearing for the Case

George Dorrill, Thornton Guyton Dorrill & Pettit, Kosciusko, for appellant.

Michael C. Moore, Atty. Gen., Larry E. Clark, Asst. Atty. Gen., Jackson, for appellee.

Before DAN M. LEE, P.J., and SULLIVAN and BANKS, JJ.

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...

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