reglab/housing_qa huggingface dataset:
MS Code § 81-5-45 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-45. Qualification and oath of directors; meetings; executive and auditing committee

 Every director of every state bank must be the owner, in his or her own right, of unencumbered stock therein to the amount of at least Two Hundred Dollars ($200.00) par value. He shall take and subscribe an annual oath that he will faithfully and diligently perform the duties of his office and will not knowingly violate or permit to be violated any provision of law. Such oath shall be immediately transmitted to the Department of Banking and Consumer Finance and filed in its office. Every executive officer, as defined in Regulation O promulgated by the Board of Governors of the Federal Reserve System, of every bank doing business under the laws of this state shall subscribe to a similar annual oath and immediately transmit the same to the Department of Banking and Consumer Finance. The board of directors of every banking corporation shall meet at least once each quarter in each calendar year and shall at such times consider generally the affairs of the bank. An executive and auditing committee selected by a majority of the board of directors shall meet at least in those months when the board of directors does not meet and shall at such times consider generally the affairs of the bank. However, if the board of directors of any bank meets every month, the executive and auditing committee of that bank shall meet at least two (2) times annually. The Commissioner of Banking and Consumer Finance, in his discretion, may prescribe such forms as he may deem necessary, which, when properly executed, shall reflect the activities of the board of directors or the executive and auditing committee. It shall be the responsibility of the board of directors and the executive and auditing committee at such meetings to complete the forms prescribed and furnished by the Department of Banking and Consumer Finance, and to file same in its office when required by the commissioner.   The results of the examinations by the board of directors and the executive and auditing committee shall be entered in the minutes of the bank.
MS Code § 81-5-47 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-47. Directors may contract to sell stock while continuing to serve

 Any director of a bank or other banking corporation while serving in such capacity may enter into a contract or option providing for the sale of his or her stock at such time as he or she ceases, by death or otherwise, to be a director thereof.
MS Code § 81-5-49 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-49. Interlocking directorates prohibited

 No person shall be permitted to be a director in more than one bank serving the same incorporated town or city doing business in this state. Any person holding a directorship in violation of this section shall be guilty of a misdemeanor, and upon conviction shall be fined not more than $100.00 and be ineligible to hold a directorship in any state bank within two years therefrom. This section shall not apply to savings banks and trust companies operated in connection with commercial banks doing business in the same building.
MS Code § 81-5-53 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-53. Limitation of liability when dealing with agents, trustees, etc.

 A bank dealing, whether to its own benefit or otherwise, with, through or under any person, who is or may be an agent, trustee, guardian, executor, administrator, or other fiduciary, or a corporate officer, agent or employee, or a partnership member or representative, shall not be deemed to have notice of or be obligated to inquire as to any lack of or limitation upon the power of such person by reason in and of itself, either of the fact that such person has executed in his representative capacity and is himself the payee or indorsee of any check, bill, note or other promise or order, or of the use of descriptive words in connection with his deposit account or accounts, or in connection with any transfer, certificate or memorandum thereof, or in connection with any signature or indorsement of such person.
MS Code § 81-5-55 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-55. Name of depositors not to be disclosed

  In no instance shall the name of any depositor, or the amount of his deposit, be disclosed to anyone, except to report to approved parties, such as credit bureaus, account verification services and others, the forcible closure of a deposit account due to misuse, such as fraud, kiting or chronic bad check writing or when required to be done in legal proceedings, for verification of public assistance in cases in which the Department of Human Services or the Division of Medicaid certifies that it has on file an effective written authorization from the depositor authorizing the disclosure of that information, for verification of the financial exploitation of a vulnerable person in cases in which the Attorney General submits a written authorization, or in case of insolvency of banks. The parties referred to in this section must be approved by the Commissioner of Banking and Consumer Finance and must satisfactorily demonstrate their reliability and credibility of their activities. Disclosure of depositor information to any affiliate or agent providing services on behalf of the bank shall not be considered disclosure of depositor information within the meaning of this section. The term "affiliate" means a corporation or business entity that controls, is controlled by or is under common control with the bank. The term "agent" means anyone who has an agreement, arrangement or understanding to transact business for the bank by the authority and on account of the bank, provided that the agreement binds the agent to the same degree of confidentiality of disclosure of bank records as the bank. Any violation of this provision shall be considered a misdemeanor and, upon conviction thereof, in any court of competent jurisdiction, the person shall be punished by a fine of not more than One Thousand Dollars ($1,000.00) or imprisoned in the county jail not more than six (6) months, or both, and in addition thereto, shall be liable upon his bond to any person damaged thereby.   This section shall not be construed to prohibit the disclosure to the State Treasurer, State Auditor, Legislative Budget Office, Joint Legislative Committee on Performance Evaluation and Expenditure Review or the Department of Finance and Administration, of any information about any type of account or investment, including certificates of deposit, owned by any public entity of the State of Mississippi.   This section shall not be construed to prohibit, or to impose liability for, the disclosure of information to:   The Department of Human Services, the Child Support Unit of the Department of Human Services, the Division of Medicaid, or their contractors or agents, pursuant to Chapter 13 or Chapter 19, Title 43, Mississippi Code of 1972; or   The Department of Revenue pursuant to Chapter 13, Title 85.
MS Code § 81-5-56 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-56. Month and year checking account opened to be printed on face of checks

 From and after July 1, 1991, any financial institution offering checking accounts which accepts a new checking account shall require that there be printed on the face of each check for such new account the month and year in which the holder of the checking account first opened such account. Any account five (5) years of age or older may show an opening date of January 1986 if the date of actual opening is unavailable. The provisions of this section shall also apply to any additional checks ordered after July 1, 1991, for checking accounts which were in existence on March 15, 1991.
MS Code § 81-5-57 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-57. Excess deposits; limit and penalty

 No state bank shall receive and hold deposits continuously for more than twelve months in excess of twenty times its paid up capital, surplus, undivided profits and reserves, except by permission of the state comptroller. Such permission of the state comptroller shall be in writing executed in duplicate, and one copy thereof shall be delivered to and held by the bank and the other shall be kept on file in the office of the state comptroller. Any bank violating the provisions of this section shall be liable for $100.00 penalty for each day in which deposits are held contrary to the provisions hereof, payable upon demand by the state comptroller who shall bring suit therefor if not paid within ten days after demand. All penalties collected under this section shall be paid into the department of bank supervision maintenance fund.
MS Code § 81-5-59 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-59. Deposit of minors

 When any minor or other person under disability shall make a deposit in any bank in his or her name such bank may pay such money on a check or order of such person, the same as in other cases, and such payment shall be in all respects valid in law.
MS Code § 81-5-61 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-61. Safe deposit boxes; leasing to minors

 Any bank or other corporation maintaining safe deposit boxes for lease to the public may lease one or more of such boxes to a minor eighteen (18) years of age or older and in connection therewith deal with such minor with the same effect as if leasing to and dealing with a person of full capacity.
MS Code § 81-5-63 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-63. Deposit in name of two or more persons; payments to successors of deceased depositors without administration; "successor" defined

  When a deposit has been made or is hereafter made in the name of two (2) or more persons, payable to any one (1) of those persons, or payable to any one (1) of those persons or the survivor, or payable to any one (1) of those persons or to the survivor or survivors, or payable to the persons as joint tenants, the deposit or any part thereof or interest or dividends thereon may be paid to any one (1) of those persons, without liability whether one or more of those persons is living or not, and the receipt of acquittance of the person so paid shall be a valid and sufficient release and discharge to the bank for any payment so made. The making of a deposit in that form, or the making of additions thereto, shall create a presumption in any action or proceeding to which either the bank or any survivor is a party of the intention of all the persons named on the deposit to vest title to the deposit and the additions thereto and all interest or dividends thereon in the survivor or survivors.     Any bank may pay to the successor of a deceased depositor, without necessity of administration, any sum to the credit of the decedent not exceeding Twelve Thousand Five Hundred Dollars ($12,500.00), without liability to any other persons, relatives or beneficiaries, and the receipt of acquittance of the person so paid shall be a valid and sufficient release and discharge to the bank for any payment so made. This section shall apply to all banking institutions, including national banks and postal savings banks within the state. The term "deposit" as used in this section shall include, but not be limited to, any form of deposit or account, such as a savings account, checking account, time deposit, demand deposit or certificate of deposit, whether negotiable, nonnegotiable or otherwise.   For the purposes of this subsection, "successor" means the decedent's spouse; or, if there is no surviving spouse of the decedent, then the adult with whom any minor children of the decedent are residing; or, if there is no surviving spouse or minor children of the decedent, then any adult child of the decedent; or, if there is no surviving spouse or children of the decedent, then either parent of the decedent; or, if there is no surviving spouse, children or parent of the decedent, then any adult sibling of the decedent.
MS Code § 81-5-65 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-65. Accounts of deceased depositors to be reported; publicity of same

 It shall be the duty of every officer and employee of the department of bank supervision to report to the state comptroller the name of every person not known to be living who appears by the records of the bank to have a sum of money on deposit; provided this section shall only apply to deposits made five years or more prior to such report which have not been added to by further deposits or reduced by withdrawal. The state comptroller shall give publicity to any such fact in such manner as he may prescribe.
MS Code § 81-5-67 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-67. Settlement of adverse claims to deposits

 Notice to any bank doing business in this state of an adverse claim to a deposit standing on its books to the credit of any person shall not be effectual to cause the bank to recognize such adverse claimant unless such adverse claimant shall also either procure a restraining order, injunction or other appropriate process against the bank from a court of competent jurisdiction in a cause therein instituted by him wherein the person to whose credit the deposit stands is made a party and served with summons, or shall execute to the 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 account of the payment of such adverse claim or the dishonor of the check or other order of the person to whose credit the deposit stands on the books of the bank.
MS Code § 81-5-71 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-71. Certifying checks

 No officer, clerk or employee of any bank shall certify to a check unless the amount thereof actually stands to the credit of the drawer on the books of the bank, and any person who shall wilfully violate this provision shall on conviction thereof, be deemed guilty of a misdemeanor and be punished by a fine not exceeding one thousand dollars. The amount of any check certified shall be at once charged to the drawer's account and credited to certified check account, there to remain until said check is retired. Any such check so certified by a duly authorized person shall be a good and valid obligation of the bank in the hands of the holder.
MS Code § 81-5-75 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-75. Authorization for payment of dividend

 No state bank shall declare or pay any dividend upon its common stock unless such bank has received written approval by the Commissioner of Banking and Consumer Finance. Directors declaring a dividend in violation of the provisions of this section shall be personally liable to the full amount of the dividend so declared and it shall be the duty of the commissioner, upon discovering the payment of any such dividend, to forthwith make demand upon the directors that the same be restored to the bank, and upon their failure so to do he shall cause suit to be brought against them in the chancery court of the county in which the bank is located, either in his name or in the name of the bank, to recover the same for the benefit of the bank.
MS Code § 81-5-79 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-79. Small loans

 Any bank or trust company heretofore or hereafter organized under any general or special law of this state and doing a banking business in this state and any national bank doing business in this state shall have power, in addition to such other powers as it may have, to make loans to any borrower or debtor in an amount not exceeding Five Thousand Dollars ($5,000.00) to be repaid in monthly installments and may charge interest thereon at not exceeding twelve percent (12%) per annum for the entire period of the loan, and aggregate the principal and interest for the entire period of the loan and divide same into monthly installments, and may take security therefor as for other loans.   A charge of Ten Dollars (10) in lieu of interest may be made on any loan payable in a single payment, and a charge of Fifteen Dollars ($15.00) in lieu of interest may be made on any loan payable in monthly installments.   No further interest or discount or service charge, or other charge by way of compensation for the use of such money, shall be made directly or indirectly on any such loan or discount by any such bank, trust company or national bank, made under the provisions of this section, in addition to the charges herein expressly provided for.   However, this section shall in no way repeal any of the other present usury statutes.
MS Code § 81-5-81 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-81. Effect of third-party deposits to induce making of unsound loans

 The Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Federal Reserve Bank, or the State Comptroller, Department of Bank Supervision, State of Mississippi, is hereby authorized to freeze any deposit which is made by any third party for the purpose of enticing any bank in the State of Mississippi, whether state or national, into making a loan which is unsafe and unsound and which does not mature prior to any attempt to withdraw such deposit so used to entice the making of said loan. This statute relates to deposits and loans which are not related in the customary function of business but are manipulated and procured by third parties (by whatever name known) for profit and the withdrawal or attempt to withdraw said deposit before said loan is sufficiently satisfied shall be sufficient authority for any state or federal supervising authority to act promptly on evidence presented to it or obtained by said agency. If any bank in the State of Mississippi shall be put into liquidation and such deposit and loan arrangements have made any contribution whatsoever to the insolvency of said bank, then the state or federal agency, the duly appointed liquidating agency or receiver, or the appropriate chancery court in charge of the liquidation of said bank shall have the right and duty to withhold any liquidating dividends or payments for said deposit or deposits until the loan or loans which the deposits have influenced are fully satisfied, and the liquidating agent or receiver shall have the right upon the approval of the chancery court to assign said loan or loans so influenced to the depositor or depositors in satisfaction of said deposit or deposits claimed against the assets of the bank in liquidation.
MS Code § 81-5-83 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-83. Limit of borrowing power of banks

 No bank chartered and doing business under the laws of this state shall issue bills payable or be liable on rediscounts at any time to a total amount in excess of three times its capital and surplus. However, this limit may be exceeded by a bank with the consent and approval in writing, of the state comptroller. Any violation of this provision by a bank shall authorize the state comptroller to deal with it as a bank being operated in violation of the laws, provided, however, that this section shall in no wise impair any obligation of banks for payment of loans and rediscounts in excess of the limit herein provided, nor shall any bank owing money heretofore borrowed in excess of this limit be held to be acting in violation of the law as to such existing loans.
MS Code § 81-5-89 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-89. Limitations upon acceptances

 A state bank may accept drafts or bills of exchange drawn upon it having not more than six (6) months' sight to run, exclusive of days of grace, which grew out of transactions involving the shipment of goods, provided shipping documents conveying or securing title are attached as security at the time of acceptance of such drafts and bills of exchange or which are secured at the time of acceptance by warehouse receipts or other such documents conveying or securing title covering readily marketable staples not subject to rapid deterioration.   No bank shall accept bills for any one person, company, firm or corporation to an amount equal at any time in the aggregate to more than ten per centum of its paid-up and unimpaired capital stock and surplus; and no such bank shall accept such bills to an amount equal at any time in the aggregate to more than one-half of its paid-up and unimpaired capital and surplus.
MS Code § 81-5-93 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 5 - General Provisions Relating to Banks and Banking|General Provisions|§ 81-5-93. Clearinghouse associations authorized

 Banks or banking institutions in any municipality or county or counties in this state may organize and establish clearinghouse associations, composed of such banks and banking institutions as may become members thereof, by voluntary action for the purpose of effecting daily settlements and exchanges by and between the associate banks, the payment or settlements at such clearinghouse of daily balances between such members resulting from exchanges, payment of checks and other orders of money and for the purpose of making provision for the proper conduct and management of the banking operations of such municipality or county or counties, and of the members of such association. Such clearinghouse associations may or may not be incorporated. If incorporated, a clearinghouse association shall be organized as a corporation without capital stock and not organized for profit or gain and the stock thereof may be held by the member banks, each such member bank being entitled to hold not more than one (1) share therein.