2010 Mississippi Code
TITLE 57 - PLANNING, RESEARCH AND DEVELOPMENT
Chapter 10 - Small Business Assistance.
57-10-117 - Supplementary security requirement for corporate borrower.
§ 57-10-117. Supplementary security requirement for corporate borrower.
If there is a corporate borrower, the committee shall require the personal guarantee or endorsement of any principal or entity owning at least twenty percent (20%) of the corporation that is borrowing money from any lender under the provisions of this article, and the committee may also require any other guarantees it deems appropriate.
Sources: Codes, 1942, § 8940-139; Laws, 1972, ch. 441, § 9; Laws, 1995, ch. 548, § 3, eff from and after passage (approved April 6, 1995).
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