Mississippi § 71-5-377 - Priorities under legal dissolutions or distributions.
Full text of Mississippi Mississippi Code of 1972 Annotated § 71-5-377 — Priorities under legal dissolutions or distributions., with citation guidance and answers to common questions.
§ 71-5-377. Priorities under legal dissolutions or distributions.
In the event of any distribution of an employer’s assets pursuant to an order of any court under the laws of this state, including any receivership, assignment for benefit of creditors, adjudicated insolvency, composition, or similar proceedings, contributions then or thereafter due shall be paid in full prior to all other claims except taxes, but on a parity with claims for wages of not more than Two Hundred and Fifty Dollars ($250.00) to each claimant, earned within six (6) months of the commencement of the proceedings. In the event of an employer’s adjudication in bankruptcy, judicially confirmed extension proposals, or composition under the Federal Bankruptcy Act of 1898, as amended, contributions then or thereafter due shall be entitled to such priority as is provided therein for taxes due and owing this state.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 71-5-377
What does Mississippi Code of 1972 Annotated § 71-5-377 cover?
Section 71-5-377 ("Priorities under legal dissolutions or distributions.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 71-5-377?
A common citation format is "Mississippi Code of 1972 Annotated § 71-5-377" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 71-5-377 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.