Mississippi Administrative Code
Title 12 - Finance and Administration
Part 6 - Office of Purchasing, Travel and Fleet Management
Chapter 3 - Source Selection and Contract Formation
Sec2 12-6-3.117 - Lease Contracts
Section 12-6-3.117.01 - Description
Universal Citation: MS Code of Rules 12-6-3.117.01
Current through September 24, 2024
A lease is a contract for the use of equipment or other commodities under which title will not pass to the State at any time. Subsection 3.117.03, Option Provisions, applies to a lease with purchase option where title may pass to the State.
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