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2013 Mississippi Code
Title 81 - BANKS AND FINANCIAL INSTITUTIONS
Chapter 12 - SAVINGS ASSOCIATIONS LAW
§ 81-12-101 - Records; forms and accounting principles; closing of books; description of assets


MS Code § 81-12-101 (2013) What's This?

(1) Every association shall use such forms and observe such accounting principles and practices as the commissioner may require from time to time.

(2) Every association shall close its books annually.

(3) No association by any system of accounting or any device of bookkeeping shall, either directly or indirectly, enter any of its assets upon its books in the name of any other person, partnership, association or corporation or under any title or designation that is not truly descriptive of such assets.

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