reglab/housing_qa huggingface dataset:
MS Code § 81-14-201 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-201. Cease and desist orders

  If any person or savings bank is engaging in, or has engaged in, or is about to engage in, any unsafe or unsound practice, or unfair and discriminatory practice, in conducting the savings bank's business, or violation of any other law, rule, regulation, order or condition imposed in writing by the commissioner, the commissioner may issue a notice of charges to such person or institution. A notice of charges shall specify the acts alleged to sustain a cease and desist order, and state the time and place at which a hearing shall be held. A hearing before the commissioner on the charges shall be held no earlier than seven (7) days, and no later than fifteen (15) days, after issuance of the notice. The charged institution is entitled to a further extension of seven (7) days upon filing a request with the commissioner. The commissioner may also issue a notice of charges if he has reasonable grounds to believe that any person or savings bank is about to engage in any unsafe or unsound business practice, or any violation of this chapter, or any other law, rule, regulation or order. If, by a preponderance of the evidence, it is shown that any person or savings bank is engaged in, or has been engaged in, or is about to engage in, any unsafe or unsound business practice, or unfair and discriminatory practice or any violation of this chapter, or any other law, rule, regulation or order, a cease and desist order shall be issued which shall be permanently binding upon the person or institution until terminated by the commissioner.   If any person or state savings bank is engaging in, has engaged in, or is about to engage in any unsafe or unsound practice, or unfair and discriminatory practice, in conducting the savings bank's business, or any violation of the act or of any other law, rules, regulation, order or condition imposed in writing by the commissioner, and the commissioner has determined that immediate corrective action is required, the commissioner may issue a temporary cease and desist order without prior notice. A temporary cease and desist order shall be effective immediately upon issuance for a period of fifteen (15) days, and may be extended once for a period of fifteen (15) days. Such an order shall state its duration on its face and the words "Temporary Cease and Desist Order." A hearing before the commissioner shall be held within the time that the order remains effective, at which time a temporary order may be dissolved or made permanent.
MS Code § 81-14-203 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-203. Civil penalties; state savings banks

  Except as otherwise provided in this article, any savings bank which is found to have violated any provision of this article may be ordered to pay a civil penalty not to exceed Twenty Thousand Dollars ($20,000.00). Any savings bank which is found to have violated or failed to comply with any cease and desist order issued under the authority of this article may be ordered to pay a civil penalty not to exceed Twenty Thousand Dollars ($20,000.00) for each day that the violation or failure to comply continues.   To enforce the provisions of this section, the commissioner is authorized to assess such penalty and to appear in a court of competent jurisdiction and to move the court to order payment of the penalty. Prior to the assessment of the penalty, a hearing shall be held by the commissioner.   Nothing in this section shall prevent anyone damaged by a state savings bank from bringing a separate cause of action in a court of competent jurisdiction.
MS Code § 81-14-205 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-205. Civil penalties; directors, officers and employees

  Any person, whether a director, officer or employee, who is found to have violated any provision of this article, whether willfully, or as a result of gross negligence, gross incompetency or recklessness, may be ordered to pay a civil penalty not to exceed Five Thousand Dollars ($5,000.00) per violation. Any person who is found to have violated or failed to comply with any cease and desist order issued under the authority of this article may be ordered to pay a civil penalty not to exceed Five Thousand Dollars ($5,000.00) per violation for each day that the violation or failure to comply continues.   To enforce the provisions of this section, the commissioner is authorized to assess such penalty, to appear in a court of competent jurisdiction and to move the court to order payment of the penalty. Prior to the assessment of the penalty, a hearing shall be held by the commissioner.   Nothing in this section shall prevent anyone damaged by a director, officer or employee of a state savings bank from bringing a separate cause of action in a court of competent jurisdiction.
MS Code § 81-14-207 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-207. Supervisory control

  Whenever the commissioner determines that a solvent savings bank is conducting its business in an unsafe or unsound manner, or in any fashion which threatens the financial integrity or sound operation of the savings bank, the commissioner may serve a notice of charges on the savings bank, requiring it to show why it should not be placed under supervisory control. Such notice of charges shall specify the grounds for supervisory control, and set the time and place for a hearing. A hearing before the commissioner pursuant to such notice shall be held within fifteen (15) days after issuance of the notice of charges.   If, after the hearing provided above, the commissioner determines that supervisory control of the savings bank is necessary to protect the savings bank's members, customers, stockholders or creditors, or the general public, the commissioner shall issue an order taking supervisory control of the savings bank.   If the order taking supervisory control becomes final, the commissioner may appoint an agent to supervise and monitor the operations of the savings bank during the period of supervisory control. During the period of supervisory control, the savings bank shall act in accordance with such instructions as may be given by the commissioner, directly or through his supervisory agent, and shall not fail to act, except when to do so would violate an outstanding cease and desist order.   Within one hundred eighty (180) days of the date the order taking supervisory control becomes final, the commissioner shall issue an order approving a plan for the termination of supervisory control. The plan may provide for:   The issuance by the savings bank of capital stock;   The appointment of one or more officers and/or directors;   The reorganization, merger or consolidation of the savings bank;   The dissolution and liquidation of the savings bank;   Other such measures as determined by the commissioner.  The order approving the plan shall not take effect until thirty (30) days after issuance during which time period an appeal may be filed in accordance with the provisions of Section 81-14-175.      All costs of this proceeding shall be paid by the savings bank.   For the purpose of this section, an order shall be deemed final if:   No appeal is filed within the specific time allowed for the appeal; or   All judicial appeals are exhausted.     If a savings bank is insolvent, the provisions of Section 81-14-211 shall apply.
MS Code § 81-14-209 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-209. Removal of directors, officers and employees

  If, in the commissioner's opinion, any director, officer or employee of any savings bank has participated in, or consented to, any violation of this chapter, or any other law, rule, regulation or order, or any unsafe or unsound business practice in the operation of any savings bank, or any insider loan not specifically authorized by or pursuant to this chapter, or any repeated violation of, or failure to comply with, any savings bank's bylaws, the commissioner may serve a written notice of charges upon such director, officer or employee and the savings bank, stating his intent to remove such director, officer or employee. Such notice shall specify the alleged conduct of such director, officer or employee and shall state the place for a hearing before the commissioner. A hearing shall be held no earlier than fifteen (15) days, but no later than thirty (30) days, after the notice of charges is served. If, after the hearing, the commissioner determines that the charges asserted have been proven by a preponderance of the evidence, the commissioner may issue an order removing the director, officer or employee in question. Such an order shall be effective upon issuance and may include the entire board of directors or all of the officers of the savings bank.   If it is determined that any director, officer or employee of any savings bank has knowingly participated in, or consented to, any violation of this chapter, or any other law, rule, regulation or order, or engaged in any unsafe or unsound business practice in the operation of any savings bank, or any repeated violation of, or failure to comply with, any savings bank's bylaws, and that as a result, a situation exists requiring immediate corrective action, the commissioner may issue an order temporarily removing such person or persons pending a hearing. Such an order shall state its duration on its face and the words "Temporary Order of Removal" and shall be effective upon issuance for a period of fifteen (15) days. Such order may be extended once for a period of fifteen (15) days. A hearing must be held within ten (10) days of the expiration of a temporary order, or any extension thereof, at which time a temporary order may be dissolved or converted to a permanent order.   Any removal pursuant to subsection (1) or (2) of this section shall be effective in all respects as if such removal has been made by the board of directors and the members or stockholders of the savings bank in question.   Without the prior written approval of the commissioner, no director, officer or employee permanently removed pursuant to this section shall be eligible to be elected, reelected or appointed to any position as a director, officer or employee of that savings bank, nor shall such director, officer or employee be eligible to be elected to or retain a position as a director, officer or employee of any other state savings bank.
MS Code § 81-14-213 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-213. Judicial review

 Any person or state savings bank against whom a cease and desist order is issued or a fine is imposed may have such order or fine reviewed by a court of competent jurisdiction. Except as otherwise provided, an appeal may be made only within thirty (30) days of the issuance of the order or the imposition of the fine, whichever is later.
MS Code § 81-14-215 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-215. Indemnity

 No person who is fined or penalized for a violation of any criminal provision of this article shall be reimbursed or indemnified in any fashion by the savings bank for such fine or penalty.
MS Code § 81-14-217 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-217. Cumulative penalties

 All penalties, fines and remedies provided by this article shall be cumulative.
MS Code § 81-14-219 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 5 - Enforcement|§ 81-14-219. Emergency limitations

 The commissioner, with the approval of the Governor, may impose a limitation upon the amounts withdrawable or payable from deposit accounts of savings banks during any specifically defined period when such limitation is in the public interest and welfare.
MS Code § 81-14-251 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 6 - Corporate Administration|§ 81-14-251. Membership of a mutual institution

 The membership of a mutual state savings bank shall consist of:   Any person who holds deposit accounts in a savings bank; or   Any person who borrows funds and becomes obligated on a loan from the savings bank, for such time as the loan remains unpaid, or the borrower remains liable to the savings bank for the payment thereof.   Any person in his own right, or in a trust or other fiduciary capacity, or any partnership, association, corporation, political subdivision or public or government unit or entity may become a member of a mutual savings bank. Members shall possess such voting rights and other rights as provided by a savings bank's certificate of incorporation and bylaws. Such members shall be considered the owners of a mutual savings bank.
MS Code § 81-14-253 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 6 - Corporate Administration|§ 81-14-253. Directors

  The directors of a mutual savings bank shall be elected by the members at an annual meeting, held pursuant to the terms of Section 81-14-261, for such terms as the bylaws of the savings bank may provide. Director's terms may be specified in the certificate of incorporation. Voting for directors by deposit account holders shall be weighted according to the total amount of deposit accounts held by such members, subject to any maximum number of votes per member which a savings bank may choose to prescribe in its bylaws. Voting rights for borrowers shall be as prescribed in the bylaws. Such requirements shall be fully prescribed in a detailed manner in the bylaws of the savings bank.   Each director of a state savings bank shall, in his own name, own capital stock in, or have a deposit relationship with the state savings bank on an unencumbered basis as follows:   For stock savings banks under Fifty Million Dollars ($50,000,000.00) in assets, stock ownership in the institution or its holding company of Two Thousand Five Hundred Dollars ($2,500.00) in market value at time of purchase; or   For mutual savings banks under Fifty Million Dollars ($50,000,000.00) in assets, a Two Thousand Five Hundred Dollar ($2,500.00) deposit relationship; or   For stock savings banks over Fifty Million Dollars ($50,000,000.00) in assets, stock ownership in the institution or its holding company of Five Thousand Dollars ($5,000.00) in market value at the time of purchase; or   For mutual savings banks over Fifty Million Dollars ($50,000,000.00) in assets, a Five Thousand Dollar ($5,000.00) deposit relationship. For savings banks that cross the Fifty Million Dollar ($50,000,000.00) threshold, the commissioner shall allow a reasonable period for the directors to comply with the ownership interest requirement.     Every state savings bank shall have no less than five (5) directors, two-thirds (2/3) of which shall be residents of this state. In addition, not more than two (2) of the directors may be members of the same immediate family, nor may there be more than one (1) director who is an attorney with a particular law firm.   A majority of the directors must not be salaried officers or employees of the savings bank or of any subsidiary or, except in the case of a savings bank having eighty percent (80%) or more of any class of voting shares owned by a holding company, any holding company affiliate thereof.
MS Code § 81-14-257 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 6 - Corporate Administration|§ 81-14-257. Amendments to charter of incorporation and bylaws

 Any amendments to the charter of incorporation or bylaws of a savings bank shall be certified by the appropriate corporation official and submitted to the commissioner for his approval before they may become effective.
MS Code § 81-14-259 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 6 - Corporate Administration|§ 81-14-259. Voting rights

 Voting rights in the affairs of a state savings bank may be exercised by members and stockholders by voting either in person or by proxy. The commissioner shall promulgate rules and regulations governing forms of proxies, holders of proxies and proxy solicitation.
MS Code § 81-14-261 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 6 - Corporate Administration|§ 81-14-261. Annual meetings notice required

  Each savings bank shall hold an annual meeting of its members or stockholders. The annual meeting shall be held at a time and place as provided in the bylaws or determined by the board of directors.   The board of directors of a mutual savings bank shall publish once a week for two (2) weeks preceding such meeting, in a newspaper of general circulation in the county where such savings bank has its principal office, a notice of the annual meeting. Such notice shall be signed by the savings bank's secretary and shall state the time and place where it is to be held. In addition to the foregoing notice, each savings bank shall disseminate additional notice of any annual meeting to all members entering the premises of any office or branch of the savings bank in the regular course of business by posting therein, in full view of the public and such members, one or more conspicuous signs or placards announcing the time, date and place of the meeting and the availability of additional information. Printed matter shall be freely available to such members containing any information as prescribed in rules and regulations issued by the commissioner. Such additional notice shall be given at any time within the period of sixty (60) days prior to and fourteen (14) days prior to the meeting and shall continue through the time of the meeting.   The board of directors of a stock savings bank shall cause a written or printed notice signed by the savings bank's secretary, and stating the time and place of the annual meeting to be delivered not less than ten (10) days nor more than fifty (50) days before the date of the meeting, either personally or by mail to each stockholder of record entitled to vote at the meeting. If mailed, such notice shall be deemed to be delivered when deposited in the United States Postal Service addressed to the stockholder at his address as it appears on the records of the corporation, with postage thereon prepaid.
MS Code § 81-14-263 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 6 - Corporate Administration|§ 81-14-263. Special meetings; notice required

 Special meetings of members or stockholders of a savings bank may be called by the president or the board of directors or by such other officers or persons as provided in the charter or bylaws of the savings bank. Notice of any special meeting of members or stockholders shall be given in the same manner as provided for annual meetings under Section 81-14-261.
MS Code § 81-14-265 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 6 - Corporate Administration|§ 81-14-265. Quorum

 Unless otherwise provided in the savings bank's charter or bylaws, fifty (50) holders of deposit accounts in a mutual savings bank, or fifty (50) stockholders or a majority of shares eligible to vote in a stock savings bank, present in person or represented by proxy, shall constitute a quorum at any annual or special meeting.
MS Code § 81-14-267 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 6 - Corporate Administration|§ 81-14-267. Bonding

  A savings bank shall maintain a blanket indemnity bond of at least a minimum amount as prescribed by the commissioner.   A savings bank which employs collection agents, who for any reason are not covered by the bond as herein required, shall provide for the bonding of each agent in an amount equal to at least twice the average monthly collections of such agent. Such agents shall be required to make settlement with the institution at least once monthly. No such coverage by bond will be required of any agent which is an institution insured by the Federal Deposit Insurance Corporation. The amount and form of such bonds and the sufficiency of the surety thereon shall be approved by the board of directors and the commissioner before such bonds are valid. All such bonds shall provide that a cancellation thereof, either by the surety or by the insured, shall not become effective until thirty (30) days' notice in writing has been given to the commissioner.
MS Code § 81-14-305 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 7 - Loans and Investments|§ 81-14-305. Prohibited security

 No savings bank, or subsidiary thereof, may accept its own capital stock or its own mutual capital certificates as security for any loan made by such savings bank. Further, no loans of any type shall be made, either directly or indirectly, for purposes relating to its own stock.
MS Code § 81-14-307 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 7 - Loans and Investments|§ 81-14-307. Loan conditioned on certain transactions prohibited

  No savings bank, or subsidiary thereof, shall require as a condition of making a loan that the borrower contract with any specific person or organization for particular goods or services.   A savings bank, or subsidiary thereof, must notify borrowers at or prior to the loan commitment of their right to select the attorney or law firm rendering legal services in connection with the loan, and the person or organization rendering insurance services in connection with the loan. Notwithstanding the notice requirement, a savings bank, or subsidiary thereof, may refuse to make any loan if it believes on reasonable grounds that the services provided by the person or organization selected by the borrower will afford insufficient protection to such institution or subsidiary.   A savings bank, or subsidiary thereof, may require borrowers to reimburse such savings bank for legal services rendered by its own attorney only when the fee is limited to legal services required by the making of such loan and the borrower has selected the savings bank's attorney in the manner provided by subsection (2) of this section.
MS Code § 81-14-309 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 7 - Loans and Investments|§ 81-14-309. Loan expense and fees

  A savings bank may require borrowers to pay all reasonable expenses incurred by the savings bank in connection with making, closing, disbursing, extending, adjusting or renewing loans.   A savings bank may require a borrower to pay reasonable charges for late payments made during the course of repayment of a loan. Such payments may be levied only upon such terms and conditions as fixed by the savings bank's board of directors and agreed to by the borrower in the loan contract. Such payments shall not be considered interest under the usury laws of this state.
MS Code § 81-14-311 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 7 - Loans and Investments|§ 81-14-311. Methods of loan repayment

 Subject to such rules and regulations as the commissioner may prescribe, a savings bank shall agree in writing with borrowers as to the method or plan by which an indebtedness shall be repaid.