reglab/housing_qa huggingface dataset:
MS Code § 57-10-115 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-115. Loan guaranty fee; loan limitations and restrictions

  On every loan, the borrower shall pay a nonrefundable guaranty fee of two percent (2%) of the guaranteed portion, to be paid at the time of disbursement of loan proceeds. Upon collection, the committee shall remit all such guaranty fees to a special fund for such fees created by the State Treasurer.   No loan guaranty made by the committee shall exceed seventy-five percent (75%) of the principal of the loan.   The amount of all outstanding loan guaranties shall not exceed five (5) times the combined total amount in the Small Businessman's Loan Fund, plus the guaranty fee fund and accrued interest on both funds, provided the liability of the two (2) funds shall not exceed Fifteen Million Seven Hundred Fifty Thousand Dollars ($15,750,000.00).   No guaranty made under the provisions of this article shall be an amount exceeding Three Hundred Seventy-five Thousand Dollars ($375,000.00) principal, and the term thereof shall not exceed twenty (20) years.   More than one (1) loan may be outstanding to any one (1) borrower at any one (1) time; provided, however, that the aggregate amount of all loan guaranties to any one (1) borrower shall not exceed Three Hundred Seventy-five Thousand Dollars ($375,000.00).   The total amount of a loan secured by any real and/or personal property, including any previous indebtedness incurred against real and/or personal property offered as security for such loan, shall not exceed ninety percent (90%) of the market value as determined by an appraisal made by the lender. In determining the amount of indebtedness to be incurred against any real or personal property securing such a loan, the lender may consider the enhanced value of the real property and any other additional capital assets accruing to the borrower through loans provided under this article.
MS Code § 57-10-117 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 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.
MS Code § 57-10-119 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-119. Advancement of loan in installments

 If the loan is approved and the lender so desires, the loan, where feasible, may be advanced in installments under such rules and regulations as the committee may establish.
MS Code § 57-10-121 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-121. Proceedings by lender upon default on loan; assignment of unsatisfied judgment to state

 If the borrower defaults in the payment of any loan or any installments thereof, fails to follow his plan and applies any installment or installments of his loan to purposes other than those in his plan as certified by the committee, violates any of the covenants and conditions contained in the instrument securing the loan, or fails to comply with any other provision of this article, the lender shall proceed to collect the entire amount due under the loan.   In the event the lender proceeds to collect the loan, he shall be required to follow the procedures as established by the committee and shall not have a claim against either the guaranty fee fund or the small businessman's loan fund in the state treasury unless or until he has first exhausted his legal rights and remedies in aid of the collection of the loan which include, but are not limited to, his rights under the following: (a) promissory note or notes and signers or endorsers thereon; (b) deeds of trust and mortgages; (c) security agreements; and (d) any set-offs or counterclaims which include the right to foreclose the deeds of trust or mortgages and to sell, or cause to be sold, the property secured thereby and obtain a judgment or decree for any balance remaining due on the loan after such foreclosures and sale of the property given as security.   When the lender has obtained a judgment or decree against the borrower for any deficiency in the amount of the principal of the loan and interest not realized in the sale of the mortgaged property or otherwise, the lender must have execution issued on any such judgment or decree. If the judgment is not satisfied following execution, the lender shall then assign the judgment or decree to the State of Mississippi, using such form of assignment as may be prescribed by regulation promulgated by the committee, before either of the two (2) said funds in the state treasury may be liable in anywise for the benefit of the lender; however, the committee may determine that it is economically or legally infeasible for the lender to obtain a judgment or decree against the borrower, such determination and the reasons therefor to be reflected in the minutes of the committee. Upon the making of such a determination, the committee will succeed to whatever rights the lender may possess in place of a judgment or decree.
MS Code § 57-10-123 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-123. Filing of claim for payment of loan from state funds

 If the requirements appearing heretofore in Section 57-10-121 have been met by the lender and any sum of money remains due on the principal of the loan, the lender must file with the manager, on the form prescribed by the committee, the lender's claim for the amount of principal remaining due and outstanding under the loan. The claim shall be accompanied by papers showing that the lender has exhausted his legal rights and remedies in an effort to collect the loan, or that such requirement was waived by the committee, and must include an assignment of the judgment from the lender to the State of Mississippi, or an assignment of rights that the lender may possess in the event requirement of judgment has been waived. In the event that the borrower has declared bankruptcy, then the lender must submit a final order of the bankruptcy court in that cause or such other documents that prove to the satisfaction of the committee that the lender has first exhausted his legal rights and remedies in aid of his collection of the loan. The committee shall review these papers and the claim by the lender and if the committee is satisfied that the same are in due form and meet the requirements under this article, the full committee shall allow the claim and issue its requisition according to law to the state auditor against the guaranty fee fund in the State Treasury for the balance of the principal under the loan. The state auditor shall, after determination of the legal validity of the claim, issue a warrant therefor which shall be honored by the State Treasurer by payment out of said guaranty fee fund in the State Treasury.   If the balance remaining in the guaranty fee fund of the state treasury is insufficient to pay the amount of the principal of the loan remaining due, as shown by the written certificate of the State Treasurer to the manager, then the committee shall issue its requisition according to law, for the amount of the principal remaining due under the loan against the small businessman's loan fund on which the state auditor shall issue his warrant, which shall be honored by the State Treasurer to the limit of the funds allowable in the small businessman's loan fund.
MS Code § 57-10-125 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-125. Collection of debt to state

  If either the guaranty fee fund or the small businessman's loan fund becomes liable for any principal due under any loan and any payment is made from either fund to the lender in payment of the balance of the principal remaining due under such loan, the amount thus paid shall become a debt due the State of Mississippi in favor of the fund from which said balance for the principal of the loan was paid, or prorate with the balance of the principal that was paid from the guaranty fee fund and the small businessman's loan fund, which debt shall bear interest at the legal rate. It shall be the duty of the attorney, selected pursuant to subsection (2) of this section, to collect said debt with interest and the attorney shall also collect the balance of the loan, representing interest due the lender over and above the principal which will likewise bear interest at the legal rate after the judgment is obtained. The committee may authorize the attorney to settle and compromise any debt due under the provisions of this section.   In order to effect a collection pursuant to subsection (1) of this section, the committee is authorized and empowered, subject to the approval of the attorney general, to hire an attorney and compensate him on either a fixed or contingent fee basis.
MS Code § 57-10-127 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-127. Distribution of collections by state

 Methods of distribution of all of the collections made by the district attorney or county attorney, where either or both of the funds in the state treasury have become liable for the principal due under any such loan and payment of the remaining balance due on the principal of the loan have been paid from either the guaranty fee fund or small businessman's loan fund, shall be as follows: (a) first, the amount of the principal of the loan which has been paid out of either the guaranty fee fund or the small businessman's loan fund shall be deposited to the fund from which it was withdrawn, or on a pro rata basis; (b) next, the interest due the lender on the loan unpaid up to and including the date of the assignment of the judgment from the lender to the State of Mississippi shall be paid to the lender; (c) then, the remainder of the proceeds, if any, shall be applied to the payment of interest to the guaranty fee fund or small businessman's loan fund, at the legal rate from the date that said fund was called upon to indemnify the lender.
MS Code § 57-10-129 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-129. Extent of liability of state funds

 The extent of the liability of either the guaranty fee fund or the small businessman's loan fund to the lender shall be seventy-five percent (75%) of the principal remaining due and unpaid after the lender has fully exhausted all remedies for recovery as provided herein, and neither of these funds shall be liable for interest which the borrower owes the lender under any such loan.
MS Code § 57-10-131 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-131. Investment of moneys in state funds

 The small businessman's loan fund and at least three-fourths (3/4) of the guaranty fee fund shall be invested in interest-bearing notes or savings accounts for the highest possible yield as determined by the committee. However, not more than ten percent (10%) of the combined total of the two (2) funds shall be invested in interest-bearing notes or savings accounts of the banks from which the two (2) executive bank officers are chosen to be members of the small businessman's loan committee according to Section 57-10-107.
MS Code § 57-10-133 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-133. Acceptance of federal and private grant funds

 The committee is hereby authorized and empowered to accept federal and private grant funds and to use same for all purposes. The committee may use any such federal or private grant funds to establish a supplemental loan guaranty fund with the state treasury and may make additional loan guaranties on the basis of such fund; provided that the aggregate amount of such additional loan guaranties shall not at any time exceed five (5) times the amount on deposit in such supplemental loan guaranty fund; provided further, that the aggregate of the liability for such supplemental loan guaranty fund and the liability authorized by Section 57-10-115(3) shall not exceed seventeen million five hundred thousand dollars ($17,500,000.00) at any one (1) time.
MS Code § 57-10-135 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-135. Liability of state and subdivisions for obligations and guarantees assumed by state funds

 Obligations and guarantees assumed by the small businessman's loan fund and the guaranty fee fund under the provisions of the guaranty program shall not be in any way an obligation, loan, debt or liability of the State of Mississippi or of any political subdivision thereof other than the small businessman's loan fund and the guaranty fee fund. They shall not create or constitute any obligation, liability or indebtedness of the state or of any political subdivision, or be or constitute a pledge of the faith and credit of the state or of any political subdivision, and all indebtedness or obligations shall be payable solely from revenues or funds available for their payment as authorized herein.
MS Code § 57-10-137 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 3 - Small Businessman's Loan Assistance Law of 1972|§ 57-10-137. Transfer of moneys to general fund upon termination of program

 If the program provided by this article is terminated or discontinued for any reason in the future, all monies in the guaranty fee fund and small businessman's loan fund in the state treasury shall, after payment of all outstanding indebtedness, be transferred to the general fund.
MS Code § 57-10-151 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 5 - Comprehensive Small Business Act of 1983|§ 57-10-151. Short title

 This article shall be known and may be cited as "The Comprehensive Small Business Act of 1983."
MS Code § 57-10-153 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 5 - Comprehensive Small Business Act of 1983|§ 57-10-153. Legislative intent

 In order to stimulate the expansion of existing small businesses and to encourage the formation of new economically sound small business enterprises in this state, it is the intent of the legislature to create a consortium of state agencies and educational institutions which provide services to the state's non-agricultural small businesses for the purpose of coordinating delivery and avoiding duplication of such services to the small business community.
MS Code § 57-10-155 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 5 - Comprehensive Small Business Act of 1983|§ 57-10-155. Definitions

 Whenever the following terms are used herein they shall have the following meanings, unless the context clearly indicates otherwise:   "Small business" means a non-agricultural business as defined by the small business administration's most current declaration of small business size standards.   "Non-agricultural business" means businesses classified by the Standard Industrial Classification Code (SIC code) as Major Groups 10 through 79. Agricultural production and services, forestry and fisheries (Major Groups 01 through 09) are excluded from the provisions of this article.   "Consortium" means the state agencies or educational institutions which provide services to small businesses and are so designated by this article.   "Consortium board" means the governing body of the consortium formed to set policy and ensure that there is a coordinated program of assistance to the state's small businesses.   "Coordinator" means a staff member of the consortium designated by the consortium board to coordinate delivery of services to small businesses.   "Certified Development Company of Mississippi, Inc." means the corporation organized pursuant to Section 57-10-167 as a not-for-profit and non-share public corporation organized and chartered for the purpose of furthering the economic development of the state.
MS Code § 57-10-157 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 5 - Comprehensive Small Business Act of 1983|§ 57-10-157. Composition of Small Business Consortium

 Member agencies and institutions which are included in the Small Business Consortium are as follows:   Department of Economic Development;   Governor's Office of Federal-State Programs;   All state-supported universities; and   All public junior colleges.   Other agencies or institutions serving small business may be added or deleted from the consortium by a two-thirds (2/3) vote of the consortium board.
MS Code § 57-10-159 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 5 - Comprehensive Small Business Act of 1983|§ 57-10-159. Small Business Consortium Board created; composition; compensation and expenses of members; meetings

 There is hereby created the Small Business Consortium Board which shall be the policymaking body for the state's program of services to nonagricultural small businesses. The consortium board will be composed of the following seven (7) members: The Executive Director of the Department of Economic and Community Development; the Director of the University Research Center; the Director of the Department of Finance and Administration; the Director of the Enterprise Development Division of the Department of Economic and Community Development; the president of a public junior college appointed by the Mississippi Junior College Association; the President of the Certified Development Company of Mississippi, Inc.; and the District Director of the Small Business Administration.   Members of the consortium board shall receive no compensation for their services as members of the board. All consortium board members who are employees of the state or any entity thereof may receive reimbursement for actual and necessary traveling and subsistence expenses incurred, such reimbursement to be in the manner provided for in Section 25-3-41.   A majority of the consortium board shall constitute a quorum, but less than a quorum may adjourn the meeting from time to time. The consortium board shall hold its meetings on at least a semiannual basis by call of the coordinator or a majority of the consortium board, and such meetings may be held at any place within the State of Mississippi acceptable to a majority of the board.
MS Code § 57-10-161 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 5 - Comprehensive Small Business Act of 1983|§ 57-10-161. General duties and responsibilities of consortium board; review of certain assistance proposals

 The duties and responsibilities of the consortium board shall be to set policy regarding delivery, and to implement delivery, of services to the state's non-agricultural small businesses, which services are provided by the consortium members or other state-supported agencies or institutions.   In order to ensure that existing delivery systems for services to small businesses are utilized whenever possible and to avoid duplication of services, any proposals for programs, grants or funding intended to provide services to small business in the general population or targeted areas of the state which are under consideration by state agencies or institutions, not members of the consortium, shall be reviewed by the consortium board. The board shall determine whether to include a program within one of the member agencies or delivery systems; include the agency or institution within the consortium; or disapprove the proposal. Excluded from this review process shall be any site-specific studies or fee-paid services provided by faculty members within the state university system and fee-paid services to small businesses provided by other state agencies or departments within the state university system.
MS Code § 57-10-163 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 5 - Comprehensive Small Business Act of 1983|§ 57-10-163. Coordinator of small business consortium

  It shall be the responsibility of the coordinator of the small business consortium to preside at meetings of the consortium board and to bring to the attention of the board the changing and evolving problems and needs of Mississippi small businesses; the need for addition, modification, or deletion of particular services; the existence of duplication of effort; the need for coordination; and any other situations relative to the effective delivery of state-supported services to small businesses of the state.   The coordinator shall be required to maintain current descriptions of and familiarity with the technical service programs provided by the consortium members to small businesses. These programs include but are not limited to: providing direct counseling assistance to business people in the areas of management, marketing, finance, and production as it relates to establishing a new or operating an existing small business in the state; providing business data and information necessary to make informed management decisions; and conducting training seminars and workshops on topics vital to the small business community of the state. The coordinator shall advise the consortium board of the need for addition, modification or deletion of particular services; the existence of duplication of effort; and the need for coordination. It shall be the responsibility of the consortium board to implement such changes in technical assistance programs as it deems necessary to comply with the intent of this article.   The coordinator shall be selected by a two-thirds (2/3) majority vote of the consortium board and shall serve at the will and pleasure of the consortium board. The coordinator shall be a full-time staff member of one of the consortium agencies or institutions or of the small business administration, and shall be located in Jackson, Mississippi. The coordinator may from time to time call special meetings of the consortium board as needed.