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2017 Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 12 - Savings Associations Law
- § 81-12-1. Citation of chapter
- § 81-12-3. Definitions
- § 81-12-4. Private corporation laws; application to savings and loan associations
- § 81-12-5. Repealed
- § 81-12-6. Department of Savings Institutions and Savings Institution Board abolished; transfer of powers, duties, etc. to other agencies
- § 81-12-7. Rights, powers, privileges and duties of board
- § 81-12-9. Determinations of commissioner final; judicial review
- § 81-12-11. Duties of department
- §§ 81-12-13 and 81-12-15. Repealed
- § 81-12-17. Interests in savings institutions prohibited; confidentiality of information
- § 81-12-19. Repealed
- § 81-12-21. Transfer of books and records; continuation of actions
- § 81-12-23. Commissioner; supervisory and enforcement powers; approvals, orders and instructions
- § 81-12-24. Removal of officers and directors
- § 81-12-25. Incorporation; petition; fee; articles; bylaws; exhibits
- § 81-12-27. Incorporation; examination and investigation of petition
- § 81-12-29. Incorporation; notice of petition; filing notice of opposition; hearing
- § 81-12-31. Incorporation; meeting of board to consider petition; cross-examination of and compelling attendance of witnesses; disposition of petition
- § 81-12-33. Incorporation; proceedings upon approval of incorporation; commencement of corporate existence
- § 81-12-35. Organization of mutual association; subscription by incorporators; bond; expense fund; organization meeting
- § 81-12-37. Capital stock association; minimum required capital; paid-in surplus; determining and maintaining adequate net worth
- § 81-12-39. Capital stock association; statement of compliance; issuance of certificate of authorization; organization meeting
- § 81-12-41. Name of association; enjoining violations; penalty
- § 81-12-43. Change of name or location of home office; hearing
- § 81-12-45. Forfeiture of corporate existence; new corporations; extension of time within which to commence business
- § 81-12-47. Insurance accounts; liquidation of noncomplying existing associations; false representation as to insurance; penalty; injunction
- § 81-12-49. Powers of associations
- § 81-12-51. Additional powers of capital stock associations
- § 81-12-53. Conversion of association organized under state law into federal association
- § 81-12-55. Conversion of federal association into association organized under state law
- § 81-12-57. Conversion of association organized under state law or of federal association into capital stock association
- § 81-12-59. Conversion of association organized under state law or of federal association into capital stock association; hearing on plan of conversion; notice; costs
- § 81-12-61. Conversion of capital stock association organized under state law into federal association
- § 81-12-63. Conversion prohibited; exceptions
- § 81-12-65. Reorganization, merger and consolidation of associations
- § 81-12-66. Ownership by holding company
- § 81-12-67. Acquisition of controlling interest in capital stock association; certificate of approval; definitions; restrictions on ownership or control; reports; examinations
- § 81-12-69. Termination of association; liquidation of assets; surrender of charter
- § 81-12-71. Annual meeting of members of association; voting; quorum
- § 81-12-73. Annual meeting of stockholders of capital stock associations; notice; voting; quorum
- § 81-12-75. Membership fees prohibited
- § 81-12-77. Inspection of books and records of association; confidential nature of certain books and records; access by members; procedure for members to communicate with other members with reference to questions to be presented at annual meeting
- § 81-12-79. Call reports
- § 81-12-81. Board of directors to direct business of association; number and qualifications of members; oath; procedure for filling vacancies
- § 81-12-83. Board of directors to manage business and exercise powers of capital stock association; election of members; term of office; qualifications; oath; vacancies
- § 81-12-85. Bonding of association's officers, attorneys, employees, agents and directors
- § 81-12-87. Fiduciary relationship of directors and officers; disclosure of personal interests; restrictions governing conduct; penalty
- § 81-12-89. Deposit of association funds; approval by directors
- § 81-12-91. Indemnification of director, officer or employee for expenses of action to which he is made a party by reason of his position
- § 81-12-93. Management contracts
- § 81-12-95. Records; minutes of meetings; business transactions
- § 81-12-97. Records; branch offices; agents
- § 81-12-99. Records; maintenance by means of data processing services
- § 81-12-101. Records; forms and accounting principles; closing of books; description of assets
- § 81-12-103. Records; overvaluation of assets
- § 81-12-105. Records; real estate investments; appraisal
- § 81-12-107. Records; loan and investment
- § 81-12-109. Records; membership and stockholder
- § 81-12-111. Records; reproduction by photostatic, photographic or microfilming process
- § 81-12-113. Reserves
- § 81-12-115. Savings liability of association to equal aggregate amount of savings accounts plus earnings; additions to accounts; responsibility of members for losses; assessment of accounts; declaration of earnings; preferences
- § 81-12-117. Savings accounts
- § 81-12-119. Savings accounts; execution of contract by holder
- § 81-12-121. Savings accounts; evidence of ownership
- § 81-12-123. Savings accounts; lost or destroyed account books or certificates
- § 81-12-125. Savings accounts; inducements to open
- § 81-12-127. Savings accounts; adverse claims to accounts
- § 81-12-129. Savings plans at educational institutions
- § 81-12-131. Payroll savings plans
- § 81-12-133. Attorneys authorized to make withdrawals; revocation of authority
- § 81-12-135. Savings accounts issued to minors or persons under disability; payment of withdrawals; powers of parent or guardian; withdrawals on death of holder
- § 81-12-137. Accounts in the name of two (2) or more persons
- § 81-12-139. Accounts of administrators, executors, guardians, trustees, and other fiduciaries
- § 81-12-141. Accounts of deceased nonresidents
- § 81-12-143. Payments to successors without administration
- § 81-12-145. Accounts payable at death
- § 81-12-147. Savings accounts as legal investments and as security for bonds
- § 81-12-149. Payment of earnings on savings accounts
- § 81-12-151. Withdrawals by savings account holders
- § 81-12-153. Redemptions
- § 81-12-155. Securities in which associations may invest
- § 81-12-157. Association may not invest in security or grant loan when liquid assets are less than five percent of savings liability
- § 81-12-159. Loans and other investments in which associations may invest
- § 81-12-161. Real estate loans to be written on approved loan plans
- § 81-12-163. Borrower's right to select attorney and obtain insurance in connection with loan; rules and regulations governing fire, casualty and title insurance
- § 81-12-165. Payment of expenses in connection with closing of loan; borrower to pay only his own attorney's fee; notice of right to select attorney; right of association to require title insurance
- § 81-12-167. Late payment charges
- § 81-12-169. Reinstatement of loan prior to foreclosure sale
- § 81-12-171. Right of association to deal with successor in interest of real estate securing loan
- § 81-12-173. Right to act to avoid loss
- § 81-12-175. Branch offices
- § 81-12-176. Branch offices; additional types of offices
- § 81-12-177. Annual report; annual audit; additional reports and examinations; access to books and papers
- § 81-12-178. Public availability of federal evaluations of banks
- § 81-12-179. Order of discontinuance of violation; enforcement in chancery court
- § 81-12-181. Appointment of conservator; powers and privileges; directors, officers and employees to remain; effect on deposits, withdrawals and loans
- § 81-12-183. Appointment of receiver; powers of receiver; directors, officers and attorneys authorized to contest appointment; surrender of charter
- § 81-12-184. Supervisory merger
- § 81-12-185. Restrictions on appointment of conservator or receiver
- § 81-12-187. Foreign associations; definition; conditions for doing business in state; injunction against foreign association doing business without approval
- § 81-12-189. Foreign associations; activities of federal associations and certain foreign associations not constituting doing of business within state; subjectivity to suit
- § 81-12-191. Federal associations domiciled in state
- § 81-12-193. Fees
- § 81-12-195. Offering and sale of savings accounts exempt from securities regulations
- § 81-12-197. Acknowledgment or proof of written instrument in which association interested; membership or employee status of public officer taking as affecting validity
- § 81-12-199. Untrue, false and malicious statements calculated to injure reputation or business of certain savings associations; penalty for making
- § 81-12-201. Advertising for deposits prohibited; exception as to certain state and federal banks, credit unions and associations
- § 81-12-203. Applicability of chapter to previously incorporated savings associations; enforceability of obligations of such associations
- § 81-12-205. Appeal from final rule, regulation or order of commissioner or board
- § 81-12-207. Solicitation of deposits by association or its representatives without complying with provisions of chapter; penalty
- § 81-12-209. Repealed
- § 81-12-211. Unsafe or unfair practice; notice of charges
- § 81-12-213. Association in violation of provisions or cease and desist order; civil penalty
- § 81-12-215. Director, officer or employee violation of provisions or cease and desist order; civil penalty
- § 81-12-217. Commissioner to issue supervisory control for association
- § 81-12-219. Appeal of cease and desist order
- § 81-12-221. Reimbursement of fines or penalties
- § 81-12-223. Cumulative fines and penalties
- § 81-12-225. Credit allowed; discretion of commissioner
- § 81-12-227. Amount of liability to association for loans
- § 81-12-229. Commissioner to furnish copy of call reports; fee; failure or refusal; misdemeanor
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