Mississippi Code Title 75. Regulation of Trade, Commerce and Investments § 75-9-113

(a) No security agreement is necessary to make the security interest enforceable; and

(b) No filing is required to perfect the security interest; and

(c) The rights of the secured party on default by the debtor are governed (i) by the chapter on Sales (Chapter 2) in the case of a security interest arising solely under such chapter or (ii) by the chapter on Leases (Chapter 2A) in the case of a security interest arising solely under such chapter.