reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 104 - STATE FISCAL AFFAIRS (§§ 27-104-1 — 27-104-373) › MISSISSIPPI ACCOUNTABILITY AND TRANSPARENCY ACT (§§ 27-104-151 — 27-104-167) › Section 27-104-167 - Certain required annual reports of agencies, boards, commissions, departments and institutions to be published on the searchable website of the Department of Finance and Administration website

The Department of Finance and Administration shall publish on its searchable website the annual report of each agency, board, commission, department and institution required to be prepared by Section
27-101-1
. The Department of Finance and Administration shall have the authority to establish the forms, processes, procedures and timelines to furnish the annual report. All such agencies, boards, commissions, departments and institutions shall fully cooperate with the Department of Finance and Administration in providing the information necessary to comply with the requirements of this section.
Added by Laws, 2017, ch. 363, SB 2275, 1, eff. 3/20/2017.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 104 - STATE FISCAL AFFAIRS (§§ 27-104-1 — 27-104-373) › MISSISSIPPI BUDGET TRANSPARENCY AND SIMPLIFICATION ACT OF 2016 (§§ 27-104-201 — 27-104-231) › Section 27-104-201 - Short title

This act [Chapter 459, Laws of 2016] shall be known and may be cited as the "Mississippi Budget Transparency and Simplification Act of 2016."
Added by Laws, 2016, ch. 459, SB 2362, 1, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 104 - STATE FISCAL AFFAIRS (§§ 27-104-1 — 27-104-373) › MISSISSIPPI BUDGET TRANSPARENCY AND SIMPLIFICATION ACT OF 2016 (§§ 27-104-201 — 27-104-231) › Section 27-104-231 - Deficit Prevention Act; required notification by state agencies, departments, institutions of likelihood of deficit for current fiscal year; development of plan to avoid or limit deficit

(1)
This section shall be known and may be cited as the "Deficit Appropriation Prevention Act."
(2)
It is the responsibility of each state agency, department and institution to operate within the limits of its annual appropriations by the Legislature and any other approved expenditures of monies. A state agency, department or institution shall not operate in a manner that results in the need for an additional, deficit, or supplemental appropriation, except as provided in this section.
(3)
If it is determined by a state agency, department or institution that the likelihood of needing an additional, deficit, or supplemental appropriation for the current fiscal year exists, the state agency, department or institution shall use a standardized request form promulgated by the Legislative Budget Office and the Department of Finance and Administration to notify the Governor, Lieutenant Governor, Speaker of the House, and Chairs of the House and Senate Appropriations Committees, the Legislative Budget Office and the Department of Finance and Administration within fifteen (15) days of this determination. The standardized request form must include a description of the need, an explanation of why the agency cannot cover the expenses with their existing appropriation, the impact of disapproval and a plan to avoid or limit any additional deficit or supplemental appropriation. The agency shall also include in the report a listing of all funds the entity is authorized to expend, the amount appropriated from each fund, the amount of funds expended at the time of the request and the current cash balance of the fund.
(4)
The Legislative Budget Office and the Department of Finance and Administration shall approve, recommend changes, or create new plans to avoid or limit the need for any additional, deficit or supplemental appropriations for each state agency, department or institution based on the information provided in the standardized request forms.
(5)
For purposes of this section, the term "state agency" shall have the same meaning as provided in Section
27-103-103
.
Amended by Laws, 2024, ch. 358, HB 1037,§ 1, eff. 7/1/2024.
Added by Laws, 2023, ch. 463, SB 2053,§ 1, eff. 7/1/2023.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 104 - STATE FISCAL AFFAIRS (§§ 27-104-1 — 27-104-373) › CORONAVIRUS FISCAL RECOVERY FUNDS (§§ 27-104-321 — 27-104-325) › Section 27-104-321 - Coronavirus State Fiscal Recovery Fund created; funding sources

(1)
All funds received by or on behalf of the State of Mississippi through the Coronavirus State Fiscal Recovery Fund in Section 9901 of the American Rescue Plan Act of 2021 (Public Law No. 117-2) shall be deposited into the Coronavirus State Fiscal Recovery Fund created in subsection (2) of this section.
(2)
There is created in the State Treasury a special fund to be designated as the "Coronavirus State Fiscal Recovery Fund." The special fund shall consist of funds required to be deposited into the special fund by subsection (1) of this section, funds appropriated or otherwise made available by the Legislature in any manner, and funds from any other source designated for deposit into the special fund. Monies in the fund shall only be spent upon appropriation by the Legislature and shall only be used as provided in the Coronavirus State Fiscal Recovery Fund in Section 9901 of the American Rescue Plan Act of 2021 (Public Law No. 117-2) or as authorized by federal rule or regulation or guidelines.
(3)
Unexpended amounts remaining in the special fund at the end of a fiscal year shall not lapse into the State General Fund but shall remain in the Coronavirus State Fiscal Recovery Fund. Any investment earnings or interest earned on amounts in the special fund shall be deposited to the credit of the special fund.
Added by Laws, 2021, ch. 472, HB 109,§ 16, eff. 4/19/2021.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 104 - STATE FISCAL AFFAIRS (§§ 27-104-1 — 27-104-373) › CORONAVIRUS FISCAL RECOVERY FUNDS (§§ 27-104-321 — 27-104-325) › Section 27-104-323 - Coronavirus Local Fiscal Recovery Fund created; funding sources

(1)
All funds received by or on behalf of the State of Mississippi through the Coronavirus Local Fiscal Recovery Fund in Section 9901 of the American Rescue Plan Act of 2021 (Public Law No. 117-2) for distribution to nonentitlement units of local government shall be deposited into the Coronavirus Local Fiscal Recovery Fund created in subsection (2) of this section.
(2)
There is created in the State Treasury a special fund to be designated as the "Coronavirus Local Fiscal Recovery Fund" to be administered by the Department of Finance and Administration. The special fund shall consist of funds required to be deposited into the special fund by subsection (1) of this section, funds appropriated or otherwise made available by the Legislature in any manner, and funds from any other source designated for deposit into the special fund. The Department of Finance and Administration shall distribute the funds to the nonentitlement units of local government in accordance with the Coronavirus Local Fiscal Recovery Fund in Section 9901 of the American Rescue Plan Act of 2021 (Public Law No. 117-2) and any applicable federal guidelines. Such funds shall only be used as provided in the Coronavirus Local Fiscal Recovery Fund in Section 9901 of the American Rescue Plan Act of 2021 (Public Law No. 117-2) or as authorized by federal rule or regulation or guidelines.
(3)
Unexpended amounts remaining in the special fund at the end of a fiscal year shall not lapse into the State General Fund but shall remain in the Coronavirus Local Fiscal Recovery Fund. The State Fiscal Officer shall transfer to the Coronavirus State Fiscal Recovery Fund the full amount of any investment earnings or interest earned on amounts in the Coronavirus Local Fiscal Recovery Fund that are remaining in the Coronavirus Local Fiscal Recovery Fund on July 1, 2024. Any investment earnings or interest earned on amounts in the Coronavirus Local Fiscal Recovery Fund after July 1, 2024, shall be deposited to the credit of the Coronavirus State Fiscal Recovery Fund created in Section
27-104-321
.
(4)
The State Fiscal Officer is authorized, in his or her discretion, to transfer to the federal government any funds in the Coronavirus Local Fiscal Recovery Fund that have not been used for the purpose for which they were received.
Amended by Laws, 2024, ch. 509, SB 2848,§ 1, eff. 5/13/2024.
Added by Laws, 2021, ch. 472, HB 109,§ 17, eff. 4/19/2021.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 104 - STATE FISCAL AFFAIRS (§§ 27-104-1 — 27-104-373) › CORONAVIRUS FISCAL RECOVERY FUNDS (§§ 27-104-321 — 27-104-325) › Section 27-104-325 - Coronavirus State Fiscal Recovery Lost Revenue Fund created; funding sources

There is created in the State Treasury a special fund to be designated as the "Coronavirus State Fiscal Recovery Lost Revenue Fund," which shall consist of funds calculated based on a reduction in the state's general revenue due to the coronavirus public health emergency, made available through the Coronavirus State Fiscal Recovery Fund established by the American Rescue Plan Act of 2021, and transferred into the fund by act of the Legislature. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used by the Department of Finance and Administration, upon appropriation by the Legislature, for the purpose of providing government services.
Added by Laws, 2022, ch. 482, SB 2780,§ 7, eff. 7/1/2022.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 104 - STATE FISCAL AFFAIRS (§§ 27-104-1 — 27-104-373) › 2022 - LOCAL IMPROVEMENTS PROJECTS FUND (§§ 27-104-371 — 27-104-373) › Section 27-104-373 - 2023 Local Improvements Projects Fund created; use of monies

(1)
A special fund, to be designated as the "2023 Local Improvements Projects Fund," is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Monies in the fund shall be disbursed by the Department of Finance and Administration as provided in Section 28 of this act. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.
(2)
Contracts or purchases for projects funded with monies disbursed from the 2023 Local Improvements Projects Fund under Section 28 of Chapter 549, 2023 Regular Session, as amended by Section 1 of this act, that involve expenditures that are more than Five Thousand Dollars ($5,000.00) but not more than Seventy-five Thousand Dollars ($75,000.00), exclusive of freight and shipping charges, must be made from the lowest and best bidder without publishing or posting advertisements for bids after obtaining at least two (2) competitive written bids. Any such contracts or purchases that involve expenditures that are more than Seventy-five Thousand Dollars ($75,000.00), exclusive of freight and shipping charges, must be made from the lowest and best bidder after advertising for competitive bids and obtaining at least three (3) competitive written bids. "Competitive" means that the bids are developed based upon comparable identification of the needs and are developed independently and without knowledge of other bids or prospective bids. This provision of this subsection shall supersede any other provision of law to the contrary.
Amended by Laws, 2024, ch. 510, HB 1707,§ 3, eff. 5/13/2024.
Added by Laws, 2023, ch. 549, HB 603,§ 2, eff. 4/21/2023.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-1 - State Depository Commission to mean State Treasurer; depositories for state funds

Wherever the term "State Depository Commission" appears in any law, the same shall mean the State Treasurer. All funds deposited or invested by and through the State Treasurer shall be deposited in the manner prescribed in Section
27-105-33
. All such deposits shall be subject to payment when demanded by the State Treasurer, except time deposits as provided by Section
27-105-33
. Such time deposits shall be subject to payment as specified by the contract or certificate of deposit. All deposits made by the State Treasurer shall also be subject to such regulations as are imposed by law and by rules promulgated by the State Treasurer for such deposits. The State Treasurer, a state institution or a state agency may compensate depositories for the expense in maintaining deposit accounts and in handling items related thereto, subject to approval by the State Treasurer and Executive Director of the Department of Finance and Administration.
The Commissioner of Banking and Consumer Finance shall serve to advise the State Treasurer as to the condition and safety as a state depository of any financial institution, especially as to any impairment of capital or surplus. Such information or recommendation shall be considered confidential information and shall not be disclosed.
Codes, Hemingway's 1917, § 4191; 1930, § 4324; 1942, § 9126; Laws, 1908, ch. 96; Laws, 1938, ch. 182; Laws, 1969 Ex. Sess. ch. 53, § 5; Laws, 1982, ch. 343; Laws, 1985, ch. 312, § 1; Laws, 1988, ch. 473, § 1; Laws, 1989, ch. 544, § 162; Laws, 1992, ch. 367, § 1; Laws, 1994, ch. 622, § 156, eff. 7/1/1994.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-3 - Banks defined

The words "bank" or "banks," whenever used in this chapter, shall include trust companies.
Codes, Hemingway's 1917, § 4209; 1930, § 4325; 1942, § 9127; Laws, 1908, ch. 97.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-7 - Bonds offered for security; how dealt with

The Governor, Attorney General and auditor are authorized to cancel any coupon state bonds payable to bearer and to issue registered bonds in lieu thereof whenever such state bonds are offered as security for deposit. They shall make a full report of all such cancellations and issuance of new bonds, describing fully the bonds cancelled and the new bonds issued, and report same to the next succeeding legislative session.
Codes, Hemingway's 1917, § 4193; 1930, § 4327; 1942, § 9129; Laws, 1908, ch. 96.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-11 - Commission issued depository

After a bank has in every respect complied with the law and shall have placed security as required, the governor, attorney general and treasurer shall issue to such depository a commission. The term of office of the depository shall be one year from the date of the issuance of its commission.
Codes, Hemingway's 1917, § 4195; 1930, § 4329; 1942, § 9131; Laws, 1908, ch. 96.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-13 - Commission form

The State Depository Commission shall design and stipulate the wording of the form of commission to be issued to each and every duly approved depository for public funds and the form of commission, when so approved, shall be spread on the minutes of the State Depository Commission showing its approval, and the form of commission shall recite the terms and conditions of the depository contract based on the law and the regulations. The State Depository Commission is authorized to amend and/or rewrite the form of commission to be used from time to time as the need arises. The form of commission, when issued to a duly qualified and approved depository, shall be signed by the Secretary of the State Depository Commission and a copy of the approvals shall be kept for a period of three (3) years before being destroyed.
Codes, Hemingway's 1917, § 4196; 1930, § 4330; 1942, § 9132; Laws, 1908, ch. 96; Laws, 1938, ch. 182; Laws, 1969 Ex. Sess., ch. 53, § 8; Laws, 2000, ch. 408, § 4, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-15 - Record of proceedings

The commission shall keep a written record in a well bound book of all its actions, and the record shall show the vote of each member on all matters. The governor and one other member of the commission shall constitute a quorum for the transaction of any and all business of the commission.
Codes, 1942, § 9133; Laws, 1938, ch. 182.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-17 - Employees; regulations

The commission hereby created shall have authority to adopt and promulgate such rules and regulations as may be reasonable and proper to properly and effectively carry out the purpose of this article. The commission shall elect a secretary from its membership, or otherwise, who shall also be bookkeeper for the commission, and it shall be the duty of the secretary to keep the minutes of said commission, and to keep such books, accounts and records with the various depositories as the commission may direct. The secretary shall also, from time to time, as may be ordered by the commission, make report showing the true and complete condition of all depository accounts, and he shall also report to the commission, at any time, any and all important matters which, in his judgment, should receive special action. The secretary shall receive a salary of six hundred dollars ($600.00) per annum for this service, in addition to any other compensation he may be entitled to.
Codes, 1942, § 9134; Laws, 1938, ch. 182.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-19 - All moneys received to be receipted for in triplicate

When any payment shall be made into the state depository in pursuance of this article, the depository shall give the person making such payment triplicate receipts specifying the account on which the payment is made, one of which shall be immediately mailed to the state treasurer and one of which shall be mailed to the auditor of public accounts.
Codes, Hemingway's 1917, § 4197; 1930, § 4431; 1942, § 9135; Laws, 1908, ch. 96.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-21 - Deposits at interest of certain funds with state depositories; reports

All institutions and departments which withdraw funds from the State Treasury, all agencies and departments of the state government whose funds are not deposited in the State Treasury, and all agencies and departments of the state government which maintain imprest funds are hereby authorized, empowered and directed to deposit their funds, except and less an amount approved by the auditor which shall be sufficient to cover disbursements for current operations, at interest with any qualified depository of the state at a rate of interest numerically equal to or greater than one-half of one percent (1/2 of 1%) below the bank discount rate on United States Treasury bills of comparable maturity as determined by the State Depository Commission. Such institutions and departments may, to the extent that they are unable to invest in certificates of deposit for periods of fourteen (14) days or longer at a rate numerically equal to or greater than one-half of one percent (1/2 of 1%) below the treasury bill rate, deposit funds in sums of less than One Hundred Thousand Dollars ($100,000.00) in such other type of interest-bearing account as may be now or hereafter authorized by law. Interest earned on funds withdrawn from the General Fund shall be deposited in the General Fund; interest earned on other funds shall be deposited to the fund from which the investment was made, unless otherwise required by law. Any agency not reporting through the State Treasurer's office shall file with the Legislature an annual report showing monthly balances, monthly investments and interest earned for the preceding fiscal year or part thereof. A depository holding funds pursuant to this section shall be eligible to hold such funds to the extent that it is qualified as a depository for state funds.
Codes, 1942, § 9126.5; Laws, 1969 Ex. Sess., ch. 53, § 4; Laws, 1979, ch. 417, § 11; Laws, 1981, ch. 481, § 1; Laws, 1988, ch. 473, § 4, eff. 12/1/1988.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-23 - How tax collectors may make settlements

In making settlements with the auditor of public accounts, the tax collector of each county shall pay the amount due the state over to a state depository in his county, if there be one in his county, otherwise he shall make payment in some other state depository, most convenient and authorized to receive same, and if none convenient, he shall pay the same to the state treasurer as now provided by law. The tax collector in making deposits shall receive triplicate receipts for the same and shall mail the auditor of public accounts and the treasurer each a copy thereof.
Codes, Hemingway's 1917, § 4198; 1930, § 4332; 1942, § 9136; Laws, 1908, ch. 96.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-27 - Loan of state funds unlawful or removal of same a felony

The making of profit, directly or indirectly, by the State Treasurer, tax collector, treasurer of any board of trustees, or any officers whatsoever, out of any money belonging to the state, with the custody of which the state treasurer is charged, by loaning or otherwise using it, or depositing the same in any manner contrary to law, or a removal by the State Treasurer, or by his consent, of such money or a part thereof, and placing it elsewhere than as provided by law, shall constitute a felony, and, on conviction thereof, shall subject the treasurer or other officer to imprisonment in the state penitentiary for a term not exceeding two (2) years or a fine not exceeding five thousand dollars ($5,000.00), or by both such fine and imprisonment; and the treasurer or other officer offending shall be liable upon his official bond for all profits realized from such unlawful use of such funds.
Codes, Hemingway's 1917, § 4202; 1930, § 4335; 1942, § 9138; Laws, 1908, ch. 96.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-29 - Failure to perform duty under this article a misdemeanor

If any officer, treasurer of board of trustees, or other custodian of the state's money shall wilfully fail or refuse, at any time, to do or perform any act required of him by this article, he shall be guilty of a misdemeanor and, upon conviction thereof, shall be sentenced to pay a fine not exceeding five thousand dollars ($5,000.00).
Codes, Hemingway's 1917, § 4203; 1930, § 4336; 1942, § 9139; Laws, 1908, ch. 96.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-31 - Governor and treasurer to count depository receipts as cash

When the Governor of the State of Mississippi and the State Treasurer are each individually performing their respective duties as required by Article 5, Section 137 of the Mississippi Constitution of 1890 [Section 137 repealed], each shall recognize, treat, and count receipts of all duly qualified state depositories for demand, general and special funds of the State Treasury, interest-bearing time certificates of deposit issued by duly qualified state depositories, and safekeeping trust receipts representing investments in direct United States Treasury obligations, as cash funds in the treasury.
Codes, Hemingway's 1917, § 4204; 1930, § 4337; 1942, § 9140; Laws, 1908, ch. 96; Laws, 1969 Ex. Sess., ch. 53, § 2, eff. 12/31/1969.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-35 - Commission meetings and duties

The state depository commission, composed of the Governor, Attorney General, and State Treasurer, shall meet annually in the month of February, and more often, if necessary, on call of any member of the commission. The commission shall keep a full and correct record of its proceedings, and is authorized and required to:
(a)
Approve, upon proper application, the depositories for the State of Mississippi that are qualified to receive and hold, subject to demand, the public funds of the state or any subdivision of the state;
(b)
Approve the bonds and securities pledged by the depositories to secure public funds deposits and to approve the exchange or substitution of bonds and securities pledged in lieu of the bonds and securities formerly pledged. The bonds and securities so pledged and held shall be such as are specifically authorized by law for security of public funds deposits;
(c)
Approve and fix the margin of security to be maintained by public funds depositories, but in no instance shall the security be less than is specifically required by law;
(d)
Approve surety bonds, issued by solvent insurance companies authorized to do business in Mississippi, filed by the depositories to secure public funds deposits, and to approve lawful substitutions in lieu thereof; and
(e)
Approve the return and release of excess bonds and securities or surety bonds, due to the withdrawal of public funds from the depositories.
The State Treasurer may be authorized by the commission to:
(i)
Receive, transfer, exchange and/or substitute bonds and securities pledged by the depositories to secure public funds deposits; and to accept bonds and securities pledged by the depositories as security for public funds deposits in lieu of any surety bond so held by the commission. However, no bond or security shall be received or accepted as security for public funds deposits unless specifically authorized by law and the marginal requirements of the State Depository Commission.
(ii)
Return and release excess bonds and securities and/or surety bonds that are excess over the marginal requirements due to withdrawal of public funds deposits; and
(iii)
Make a detailed report of all matters and transactions relating to the depository bonds and securities at such times and as often as may be required by the State Depository Commission. Exchanges and substitutions of bonds and securities shall not be made but once for each depository during any consecutive three-month period; however, called or matured bonds and securities may be exchanged, substituted or released if marginal requirements are maintained, at the pleasure of the State Treasurer and the depository.
Codes, 1942, § 9142; Laws, 1932, ch. 255; Laws, 1946, ch. 303, § 1; Laws, 2000, ch. 408, § 6, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 1 - STATE DEPOSITORIES (§§ 27-105-1 — 27-105-37) › Section 27-105-37 - Acceptance by banks of checks payable to state agency

All banks in this state are required to accept all checks and drafts that are payable to any state department, agency, board or commission, only for deposit to the credit of the particular payee to which such checks or drafts are payable, or to issue cashier's checks, certified checks and similar exchange in the name of and on behalf of the particular payee.
Laws, 1974, ch. 372, eff. 3/18/1974.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-301 - Levee district depositories

The adoption of this code shall not be construed as repealing any law or laws providing for deposits by and loans of the board of commissioners for the Yazoo-Mississippi delta levee district and the board of Mississippi levee commissioners.
Codes, 1930, § 4339; 1942, § 9143.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-303 - Establishment of county depositories

The amount of money belonging to the several funds in the county treasury of each county in the state which is required to meet the current needs and demands of no more than seven (7) business days shall be kept on deposit in or through qualified financial institutions whose accounts are insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or in or through some of them doing business in the several counties, provided that where there is no such financial institution in a county qualifying as a depository, some such financial institution in an adjoining county may qualify as a depository. All such deposits shall be subject to payment when demanded on warrant issued by the clerk of the board of supervisors on the order of the said board or on the allowance of a court authorized to allow the same. Each financial institution qualifying as such county depository shall not be required to pay interest to the county for the privilege of holding the deposits unless federal law permits the payment of interest on such deposits, in which case the maximum permitted interest rate shall be paid on such deposits. Where more than one (1) financial institution in a county offers to qualify as a depository, the board of supervisors may allocate such money to each qualified financial institution as nearly as practicable in proportion to their respective net worth, and may adopt the rules for receiving such deposits.
Codes, Hemingway's 1917, § 4234; 1930, § 4340; 1942, § 9144; Laws, 1912, ch. 194; Laws, 1946, ch. 422, § 1; Laws, 1985, ch. 514, § 17; Laws, 1988, ch. 473, § 6; Laws, 2007, ch. 426, § 3, eff. 3/22/2007.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-307 - When no bids submitted; board to readvertise

When no bid is made by any qualified financial institution in the county or in the adjoining county to qualify as a depository at the January meeting, the board of supervisors shall readvertise at some subsequent meeting for a depository and select same, in the manner provided by law.
Codes, Hemingway's 1917, § 4236; 1930, § 4342; 1942, § 9146; Laws, 1914, ch. 257; Laws, 1916, ch. 208; Laws, 1985, ch. 514, § 18, eff. 10/1/1985.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-309 - When banks in county fail to respond

Any county failing to secure a county depository by the advertisement to the qualified financial institutions of the county and of the adjoining counties, shall readvertise at any subsequent meeting of the board of supervisors, and as soon as possible, for bids for a county depository. Such notice shall be published once a week for three (3) weeks in some newspaper published in the county, and in a daily newspaper in Jackson, Mississippi, and shall state that the proposal is open to any qualified financial institution in the state, and that financial institutions outside of the county shall have preference over county financial institutions.
Codes, Hemingway's 1917, § 4237; 1930, § 4343; 1942, § 9147; Laws, 1916, ch. 208; Laws, 1985, ch. 514, § 19, eff. 10/1/1985.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-311 - State Treasurer to aid in selection

The clerk of the board of supervisors shall mail a copy of the notice provided for in Section
27-105-309
to the State Treasurer, who shall make efforts to have some qualified financial institution in the state submit bids for such depository.
Codes, Hemingway's 1917, § 4238; 1930, § 4344; 1942, § 9148; Laws, 1916, ch. 208; Laws, 1985, ch. 514, § 20, eff. 10/1/1985.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-313 - Obstructing bids; penalty for

It shall be unlawful for any officer in any financial institution, or any other person, to make an agreement of any kind with the intent and purpose of keeping any financial institution from bidding for county deposits, whether such agreement be express or implied, and any person violating this provision shall, upon conviction, be fined not less than Five Hundred Dollars ($500.00), nor more than One Thousand Dollars ($1,000.00) and shall be imprisoned in the county jail for not less than thirty (30) days, nor more than six (6) months.
Codes, Hemingway's 1917, § 4239; 1930, § 4345; 1942, § 9149; Laws, 1914, ch. 257; Laws, 1985, ch. 514, § 21, eff. 10/1/1985.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-315 - Qualification as depository

(1)
Any financial institution in a county, or in an adjoining county where there is no financial institution in the county qualifying, whose accounts are insured by the Federal Deposit Insurance Corporation or any successors to that insurance corporation may qualify as a county depository, if the institution qualifies as a public funds depository under Section
27-105-5
or a public funds guaranty pool member under Sections
27-105-5
and
27-105-6
. The qualified financial institution shall secure those deposits by placing qualified securities on deposit with the State Treasurer as provided in Section
27-105-5
.
(2)
Notwithstanding the foregoing, any financial institution whether or not meeting the prescribed ratio requirement whose accounts are insured by the Federal Deposit Insurance Corporation or any successors to that insurance corporation, may receive county funds in an amount not exceeding the amount that is insured by that insurance corporation and may qualify as a county depository to the extent of that insurance.
(3)
For purposes of the foregoing subsection (2), a deposit or investment shall be within the amount that is insured by that insurance corporation if the deposit or investment is made on the following conditions:
(a)
The financial institution arranges for the investment of the funds in interest-bearing accounts in one or more banks or savings and loan associations wherever located in the United States, for the account of the public depositor;
(b)
The full amount of the principal and accrued interest of each such interest-bearing account is insured by the Federal Deposit Insurance Corporation;
(c)
The financial institution acts as custodian for the public depositor with respect to the funds invested in the public depositor's account; and
(d)
At the same time that such interest-bearing accounts are invested, the financial institution receives an amount of deposits from customers of other financial institutions located in the United States equal to or greater than the amount of the funds invested by the public depositor through the financial institution.
Codes, Hemingway's 1917, § 4240; 1930, § 4346; 1942, § 9150; Laws, 1912, ch. 194; Laws, 1918, ch. 187; Laws, 1934, chs. 211, 212; Laws, 1936, ch. 168; Laws, 1948, ch. 463, § 1; Laws, 1980, ch. 367; Laws, 1985, ch. 312, § 3; Laws, 1985, ch. 514, § 10; Laws, 1988, ch. 473, § 8; Laws, 2000, ch. 408, § 7; Laws, 2007, ch. 426, § 7; Laws, 2012, ch. 413, § 2, eff. 7/1/2012.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-317 - Commission of depository

A county depository must be issued a commission under Section
27-105-11
before receipt of county deposits.
Codes, Hemingway's 1917, § 4241; 1930, § 4347; 1942, § 9151; Laws, 1912, ch. 194; Laws, 1985, ch. 514, § 22; Laws, 2000, ch. 408, § 8, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-319 - [Repealed]

Repealed by Laws, 2000, ch. 408, § 16, eff. 7/1/2001.
Codes, Hemingway's 1917, § 4242; 1930, § 4348; 1942, § 9152; Laws, 1912, ch. 194; Laws, 1946, ch. 422, § 2; Laws, 1985, ch. 514, § 23; Laws, 2000, ch. 408, § 16, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-321 - Receipts in triplicate to be issued for deposits; disposition of same

When any payment of county funds shall be made into a county depository in pursuance of this article, the depository shall give the person making such payment triplicate receipts, specifying the accounts on which the payment is made, one of which shall be immediately mailed to the chancery clerk of the county. Any person paying money into the county depositories shall, before paying same, receive a pay warrant from the chancery clerk allowing him to make such deposit, and no county depository shall receive any money unless accompanied by such pay warrant.
Codes, Hemingway's 1917, § 4243; 1930, § 4349; 1942, § 9153; Laws, 1912, ch. 194.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-323 - Detailed reports made to supervisors of receipts and disbursements by depositories

In any county where a county depository or depositories shall qualify as herein provided, every such depository, at the regular January, April, July and October meetings of the board of supervisors, and at such other times as may be required by the board, shall make to the board of supervisors a detailed report of all moneys received by it and of the disbursements thereof, so that said receipts and disbursements shall clearly and distinctly appear; and each depository shall exhibit with its reports the vouchers for the disbursements charged therein, and all such vouchers paid by the county depository shall be marked cancelled by the clerk and shall be filed and preserved by the clerk subject to examination by the state auditing department. Such depository shall also, at the time of making such reports, present a certified statement of the amount then on deposit in the depository, and shall, upon demand of the board of supervisors, bring all moneys belonging to the county to the board of supervisors to be counted; and, if any county depository shall neglect or refuse to make such reports, it shall forfeit the sum of two hundred and fifty dollars ($250.00) to be recovered by suit in the name of the county for its use.
Codes, Hemingway's 1917, § 4244; 1930, § 4350; 1942, § 9154; Laws, 1912, ch. 194; Laws, 1946, ch. 338, § 1.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-325 - How tax collectors to settle with county treasury

In making a settlement with the county treasury, the tax collector of each county shall pay the amount due the county to a county depository, according to law and the rules of the board of supervisors. The tax collector, in making deposits, shall receive duplicate receipts for the same and shall mail one to the chancery clerk, and the county depository, upon demand, shall issue its official receipt as required heretofore.
Codes, Hemingway's 1917, § 4245; 1930, § 4351; 1942, § 9155; Laws, 1912, ch. 194.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-327 - Amount to be paid by depositories for privilege of keeping funds; how computed

The amount to be paid by any and all depositories for the privilege of keeping county funds on deposit, if required to be paid under the provisions of Section
27-105-303
, shall be computed on the average daily balance of the public money kept on deposit therewith and there be credited and paid to the county monthly. Each depository shall render, at the beginning of each and every month, to the chancery clerk a statement in duplicate, showing the daily balance of the county money held by it during the month next preceding, and all sums paid to the county for the privilege of keeping said county money shall be credited to the account of the several funds entitled thereto.
Codes, Hemingway's 1917, § 4246; 1930, § 4352; 1942, § 9156; Laws, 1912, ch. 194; Laws, 1985, ch. 514, § 24, eff. 10/1/1985.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-329 - Failure to pay county warrants

In the event of the failure of any county depository to pay any county warrant lawfully issued on any funds on deposit belonging to the county in the depository, the county is empowered to order the State Treasurer to sell such securities as are placed with the State Treasurer by the depository, or call on the public funds guaranty pool if the depository is a member, or so much of them as may be necessary to cover back into the county treasury the amount of county funds on deposit with the depository, with accrued interest thereon, as provided in Section
27-105-25
. In the event of the failure of the county depository to pay any warrant when the depository has placed as security surety bonds, the clerk or holder of the warrant shall notify the president of the board of supervisors and he shall take such immediate action as he may deem best and most expedient for covering back into the Treasury all county money on deposit in the depository, and the board of supervisors is authorized to employ counsel, if necessary, to more speedily enforce the payment. The expenses of the collection, including the counsel fee, shall be charged against the depository, and, in addition thereto, the depository shall be liable for damages at the rate of one percent (1%) per month for any delay in paying over any county funds when lawfully demanded, and the bond of any depository shall be liable for those expenses and damages.
Codes, Hemingway's 1917, § 4247; 1930, § 4353; 1942, § 9157; Laws, 1912, ch. 194; Laws, 2000, ch. 408, § 9, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15) › Chapter 105 - DEPOSITORIES (§§ 27-105-1 — 27-105-371) › Article 3 - DEPOSITORIES FOR FUNDS OF LOCAL GOVERNMENTS (§§ 27-105-301 — 27-105-371) › Section 27-105-331 - Acquisition of closed depository securities

The State Treasurer, on behalf of any county in the State of Mississippi that has acquired bonds or other securities as the result of the closing of the depository or depositories of the county, is authorized and empowered in his discretion to sell, trade, refinance or agree to the refinancing of any or all of those bonds now held or owned by it and by any subdivision or taxing district of the county. The State Treasurer is further authorized and empowered, in his discretion, in refinancing any of those bonds, to agree to a reduction of the principal sum and likewise to agree to a reduction of the interest rate thereon. The State Treasurer is authorized and empowered, in his discretion, to sell any of those bonds at or for the best price obtainable, or to trade those bonds for other bonds, when in the judgment of the State Treasurer the best interests of the county would be advanced thereby, and he is further authorized to handle and negotiate any matured interest coupons on any of those bonds in the same manner as he is authorized in this section to deal with the bonds.
All of the proceeds of the sale, refinancing, trading, or collection of any of those bonds shall be accounted for by the State Treasurer and placed to the credit of the subdivisions or funds of the counties entitled to those proceeds.
Codes, 1942, § 9158; Laws, 1936, ch. 302; Laws, 2000, ch. 408, § 10, eff. 7/1/2001.