reglab/housing_qa huggingface dataset:
MS Code § 81-14-315 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 7 - Loans and Investments|§ 81-14-315. Rule-making power of commissioner

 The commissioner shall, from time to time, promulgate such rules and regulations in respect to loans permitted to be made by state savings banks as necessary to assure that such loans are keeping with sound lending practices and to promote the purpose of this chapter.
MS Code § 81-14-317 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 7 - Loans and Investments|§ 81-14-317. Nonconforming loans and investments

 Unless otherwise provided, every loan or other investment made in violation of this chapter shall be due and payable according to its terms and the obligation thereof shall not be impaired; provided, however, that such violation consists only of the lending of an excessive sum on authorized security or of investing in an unauthorized investment.
MS Code § 81-14-319 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 7 - Loans and Investments|§ 81-14-319. Limitation on loans to one (1) borrower

 The liability to a savings bank by a person, company, corporation or firm for money loaned, including in the liability of such person, company or firm, where a partnership, the liabilities of the several members thereof, shall not exceed twenty percent (20%) of the aggregate unimpaired capital and unimpaired surplus of said savings bank.   The following shall not be restricted to or considered as coming within the limitations of twenty percent (20%) herein prescribed:   Loans and discounts secured by warehouse receipts or shippers' order bills of lading representing actual existing values, provided the amount of such loans and discounts shall not exceed eighty-five percent (85%) of the market value of the commodities representing the actual existing values.   Loans and discounts secured by bonds, certificates or notes constituting direct obligations of the United States government, or bonds fully guaranteed by the United States government, or by full faith and credit obligations of the State of Mississippi; provided, however, the commissioner shall from time to time determine and fix the maximum percentage of the par value of all such securities that may be loaned.   Loans and discounts to the extent that they are secured or covered by guaranties, or by commitments, or agreements to take over or purchase the same, made by any federal reserve bank, or by the United States, or any department, bureau, board, commission or establishment of the United States, including any corporation wholly owned directly or indirectly by the United States; provided that such guaranties, agreements or commitments are unconditional and are to be performed by payment within sixty (60) days after demand; provided, further, that the commissioner is hereby authorized to define the terms herein used and may by regulation control the making of loans under this paragraph (c).   Loans and discounts secured in full by funds on deposit in time or savings accounts with the lending savings bank to the credit of the borrower.   Any officer or director who shall approve or make loans prohibited in this section shall be liable individually for the full amount of the principal and interest of any such loan. If the commissioner shall discover, in any examination of any open savings bank that there is a loss on any loan made in violation of this section, he shall make demand of all directors and officers approving or making such loan for payment of the entire unpaid balance on any such loan.   Like demand shall be made and suit brought by the receiver of any savings bank in liquidation. Provided, however, this section shall not apply to loans to the State of Mississippi, or to any political subdivision thereof, nor to any levee district.
MS Code § 81-14-321 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 7 - Loans and Investments|§ 81-14-321. General parity provision

 State savings banks shall have and possess the rights, powers, privileges, immunities, duties and obligations of thrift institutions organized and operating under the laws of this state or the federal government as may be prescribed by the board by general regulation under the circumstances and conditions set out therein. In the event of a conflict between the provisions of this paragraph and any other provision of this chapter, the provisions of this paragraph shall control.
MS Code § 81-14-351 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-351. Generally accepted accounting principles

 Savings banks shall maintain their books and records in accordance with generally accepted accounting principles.
MS Code § 81-14-353 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-353. Liquidity

 Savings banks shall maintain cash and readily marketable investments in an amount that may be established in the rules and regulations of the commissioner, but such amount shall not be less than ten percent (10%) of the assets of the savings bank. Upon receipt of a duly certified copy of a resolution by the board of directors of any savings bank requesting a temporary suspension, the commissioner may suspend the liquidity requirement for a period not longer than six (6) months.
MS Code § 81-14-355 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-355. Net worth maintenance requirement

 Each savings bank shall maintain an adequate net worth appropriate for the conduct of its business and the protection of its savings account holders. The net worth adequacy of a savings bank shall be determined by the commissioner on a regular basis, but not less than one (1) time per year after evaluating the character of management, the quality of assets, history of earnings and the retention thereof, the potential volatility of the deposit structure and the institution's capacity to furnish the broadest service to the public. A written report of such finding and determination shall be made and filed by the commissioner.
MS Code § 81-14-357 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-357. Deposit accounts

  Every savings bank shall be authorized to solicit deposits from any person, natural or corporate, except as restricted or limited by law, or by such regulations as the commissioner may prescribe.   Savings banks may receive deposits of funds upon such terms as the contract of deposit shall provide to establish methods of withdrawals.
MS Code § 81-14-359 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-359. Joint accounts

  Accounts may be in the name of two (2) or more persons, whether minor or adult, in such form that the money in the accounts are payable to either adult, or their survivors, and such money due under such accounts, and all additions thereto, shall be the property of such persons as joint tenants with the right of survivorship. The money due under such accounts may be paid to, or on the order of, any one of such persons during his lifetime or to, or on the order of, any one of the survivors of such persons. The opening of the account in such form shall be conclusive evidence with regard to the liability of the savings bank of the intention of all of the parties to the account to vest title to money due under the account and the additions thereto in such survivor or survivors. By written instructions given to the savings bank by all parties to the account, the signatures of more than one (1) of such persons during their lifetime, or of more than one (1) of the survivors after the death of any one of them, may be required for withdrawal, in which case the savings bank shall pay the money in the account only in accordance with such instructions. However, no such instructions shall limit the right of the survivor or survivors to receive the money in the account. By written agreement with the savings bank, any person may create a joint account with other persons as joint tenants with the right of survivorship and such agreement may be signed only by the persons creating the account.   The savings bank, unless instructed in writing to the contrary, may loan money to any one or more persons constituting a single membership or account as joint tenants with the right of survivorship, and any person authorized to make withdrawals as provided in this section may pledge, hypothecate or assign all, or any part of, the money due, or to become due, under such account. Any such pledge, hypothecation or assignment, or any increase to, or withdrawal from, the account shall not destroy the joint tenancy with the right of survivorship.   Payment of all or any of the money in such account, as provided in this section, shall discharge the savings bank from liability with respect to the money so paid, prior to receipt by the savings bank of a court order. After receipt of such court order, a savings bank may refuse, without liability, to honor any withdrawal on the account pending determination of the rights of the parties. No savings bank paying any survivor in accordance with the provisions of this section shall thereby be liable for any estate, inheritance or succession taxes which may be owed to this state.
MS Code § 81-14-361 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-361. Accounts of administrators, executors, guardians, trustees and other fiduciaries

 Any savings bank may accept accounts in the name of any administrator, executor, guardian, trustee or other fiduciary in trust for a named beneficiary or beneficiaries. Such fiduciary shall have the authority to vote as a member of the savings bank as if any membership account were held absolutely, and to make payments upon, and withdraw from, any such account in whole or in part. The withdrawal value of any such account, or other rights relating thereto, may be paid or delivered, in whole or in part, to such fiduciary without regard to any notice as long as such fiduciary is living. The payment or delivery to any such fiduciary or a receipt of acquittance signed by any such fiduciary to whom any such payment or any such delivery or rights is made shall be valid and sufficient release and discharge of any savings bank for the payment or delivery so made. Whenever a person holding an account in a fiduciary capacity dies and no written notice of the revocation or termination of the trust relationship has been given to a savings bank and the savings bank has no notice of any other disposition of the trust estate, the withdrawal value of such account, or other rights relating thereto, may at the option of a savings bank be paid or delivered, in whole or in part, to the beneficiary or beneficiaries of such trust. Whenever an account is opened by any person describing himself as trustee for another and there is no further notice of the existence and terms of a legal and valid trust, then such description shall be given in writing to such savings bank. In the event of the death of the person so described as trustee, the withdrawal value of such account, or any part thereof, may be paid to the person for whom the account was thus stated to have been opened. Such account, and all additions thereto, shall be the property of such person, unless prior to payment the trust agreement is presented to the savings bank showing a contrary interest. When made in accord with this section, the payment or delivery to any such beneficiary, beneficiaries or designated person, or a receipt or acquittance signed by any such beneficiary, beneficiaries or designated person for any such payment or delivery shall be a valid and sufficient release and discharge of a savings bank for the payment or delivery so made. Trust accounts permitted by this chapter shall not be required to be acknowledged and recorded. When an account is opened in a form described in this section, the right set forth in Section 81-14-363 shall apply. No savings bank paying any beneficiary in accordance with the provisions of this section shall thereby be liable for any estate, inheritance or succession taxes which may be owed to this state.
MS Code § 81-14-365 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-365. Collection of processing fee for returned checks

 Notwithstanding any other provision of law, a processing fee may be charged and collected by any savings bank for checks on which payment has been refused by the payor depository institution. A savings bank may also collect such fee for checks drawn on that savings bank with respect to an account with insufficient funds.
MS Code § 81-14-367 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-367. Right of setoff on deposit account

  A savings bank shall have a right of setoff, without further agreement or pledge, upon all deposit accounts owned by any member or customer to whom or upon whose behalf the savings bank has made an unsecured advance of money by loans. Upon default in the repayment of satisfaction thereof, the savings bank may cancel on its books all or any part of the deposit accounts owned by such member or customer and apply the value of such accounts in payment of such obligation.   A savings bank which exercises the right of setoff provided in this section shall first give a thirty-day notice to the member or customer that such right will be exercised. Such accounts may be held or frozen, with no withdrawals permitted, during the thirty-day notice period. Such accounts may not be canceled and the value thereof may not be applied to pay such obligation until the thirty-day period has expired without the member or customer having cured the default on the obligation. The amount of any member's or customer's interest in a joint account or other account held in the names of more than one (1) person shall be subject to the right of setoff provided in this section.   If a savings bank shall proceed in good faith as provided in this section, but it is later determined that the savings bank was not entitled to have held or set off funds, then the savings bank's sole obligation shall be to return the funds to the member's or customer's account, together with interest at the rate that would have applied if the account had not been held or set off. The savings bank shall not otherwise be liable for any costs or damages. This section is not exclusive, but shall be in addition to contract, common law and other rights of setoff. Such other rights shall not be governed in any fashion by this section.
MS Code § 81-14-369 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-369. Savings accounts issued to minors or persons under disability; payment of withdrawals; powers of parent or guardian; withdrawals on death of holder

 A savings bank and any federal savings bank may issue savings accounts to any minor or other person under disability as the sole and absolute owner of such savings account. Such savings bank may receive payments by or for such owner, pay withdrawals, accept pledges to the savings bank, and act in any other manner with respect to such account on the written instruction of such savings account holder in accord with this chapter. Any payment or delivery of rights to any minor or other person under a disability, or a receipt or acquittance signed by a minor or other person under a disability, who holds a savings account, shall be a valid and sufficient release of such savings bank for any payment so made or delivery of rights to such minor or person. The receipt, acquittance, pledge or other action required by the savings bank to be taken by such minor or person shall be binding upon such minor or person as if he were of full age and legal capacity. The parent or guardian of such minor or person shall not in his capacity as parent or guardian have the power to attach or to transfer any savings account issued to, or in the name of, such minor or person; provided, however, that in the event of the death of such minor or person, the receipt or acquittance of either parent, a person standing in loco parentis, guardian or conservator of such minor or person shall be a valid and sufficient discharge of such savings bank for any sum not exceeding One Thousand Dollars ($1,000.00), unless the minor or person has given written notice to the savings bank not to accept the signature of such person.
MS Code § 81-14-371 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-371. Deposit accounts as deposit of securities

 Notwithstanding any restrictions or limitations contained in any law of this state, the deposit accounts of any state savings bank or of any federal savings bank having its principal office in this state, may be accepted by any agency, department or official of this state in any case wherein such agency, department or official acting in its or his official capacity requires that securities be deposited with such agency, department or official.
MS Code § 81-14-373 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-373. New account books

 Upon the filing with a savings bank by the holder of records as shown by the books of the savings banks, or by his legal representative, of an affidavit to the effect that the account book, certificate or other evidence of ownership of his savings account with the savings bank has been lost or destroyed, and that such account book or certificate has not been pledged or assigned in whole or in part, such savings bank shall issue a new account book or certificate in the name of the holder of record. Such savings bank shall in no way be liable thereafter for the original account book or certificates, unless the board of directors requires a bond in an amount sufficient to indemnify the savings bank against any loss which might result from the issuance of such new account book or certificate.
MS Code § 81-14-375 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-375. Transfer of deposit accounts

 The owner of a deposit account may transfer his rights therein absolutely or conditionally to any other person eligible to hold such rights, but such transfer may be made on the books of the savings bank and accompanied by the proper application for transfer by the transferor and transferee. Such transferor and transferee shall accept such account subject to the terms and conditions of the account contract, the bylaws of the savings bank, the provisions of its certificate of incorporation, and all rules and regulations of the commissioner. Notwithstanding the effectiveness of such a transfer between the parties thereto, the savings bank may treat the holder of record of a deposit account as the owner thereof for all purposes, including payment and voting, until such transfer and assignment has been recorded by the savings bank.
MS Code § 81-14-377 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-377. Authority of power of attorney

 A savings bank may continue to recognize the authority of an individual holding a power of attorney in writing to manage or to make withdrawals, either in whole or in part, from the deposit account of a customer or member until it receives written or actual notice of death, or of adjudication of incompetency of such member, or revocation of the authority of such individual holding such power of attorney. Payment by the savings bank to an individual holding a power of attorney prior to receipt of such notice shall be a total discharge of the savings bank's obligation as to the amount so paid.
MS Code § 81-14-379 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-379. Adverse claims to accounts

 Notice to any savings bank doing business in this state of an adverse claim to an account on its books in the name of any savings account holder shall not cause the savings bank to recognize such adverse claimant, unless: (a) such adverse claimant either procures a restraining order, injunction or other appropriate process against the savings bank from a court of competent jurisdiction wherein the savings account holder, in whose name the account appears, is made a party and served with summons; or (b) such adverse claimant executes to the savings bank, in form and with sureties acceptable to it, a bond indemnifying it from any and all liability, loss, damage, costs and expenses for and on the account of the payment of such adverse claim.
MS Code § 81-14-381 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-381. Accounts of deceased nonresidents

 When an account is held in any savings bank by a person residing in another state or country, the account, or any part thereof, not in excess of Two Thousand Five Hundred Dollars ($2,500.00), may be paid to the administrator or executor appointed in the state or country where the account holder resides at the time of death; provided, however, that such administrator or executor has furnished the savings bank with (a) authenticated copies of his letters and of the order of the court which issued the letters to him authorizing him to collect, receive and remove the personal estate, and (b) an affidavit by the administrator or executor stating that to his knowledge no letters are then outstanding in this state and no petition for letters by an heir, legatee, devisee or creditor of the decedent is pending on the estate in this state, and that there are no creditors of the estate in this state. Upon payment or delivery to such representative after receipt of the affidavit and authenticated copies, the savings bank is released and discharged to the same extent as if the payment or delivery had been made to a legally qualified resident executor or administrator. Such savings bank is not required to see to the application or disposition of the property. No action at law or in equity shall be maintained against the savings bank for payment made in accordance with the above provisions.
MS Code § 81-14-383 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 14 - Savings Bank Law|Article 8 - Operations|§ 81-14-383. Payments to successors without administration

 Any savings bank may pay to the successor of a deceased depositor, as defined in Section 91-7-322(2), without necessity of administration, any sum to the credit of the deceased not exceeding Twelve Thousand Five Hundred Dollars ($12,500.00) upon affidavit that the deceased died leaving no will and testament and bond signed by each of the successors guaranteeing payment of any lawful debts of the deceased to the extent of that withdrawal. The receipt of acquittance of the person or persons so paid shall be a valid and sufficient release and discharge to the savings bank against all other persons and claimants for any payment so made; however, the bond is made available to any creditor for suit against the makers of the bond.