81-1-77 - Borrowing money from or indorsing notes to state banks by officers or employees of department prohibited; penalties. - Mississippi Statutes

§ 81-1-77. Borrowing money from or indorsing notes to state banks by officers or employees of department prohibited; penalties.
 

No officer or employee of the department shall be permitted to borrow money from any state bank directly or indirectly or to indorse any note to any state bank. Any such officer or employee who borrows any money from any state bank or indorses any note to any state bank and any officer or employee of any state bank who makes any such loan to any officer or employee of the department or accepts the indorsement of any officer or employee of the department on any note to any state bank shall be guilty of a misdemeanor and, upon conviction of such offense, shall be imprisoned for not more than six (6) months in the county jail, or fined not more than One Thousand Dollars ($1,000.00), or both. Each renewal of any loan or indorsement forbidden by this section shall constitute a separate offense. 
 

Sources: Laws,  1980, ch. 312, § 12; reenacted, 1982, ch. 303, § 12; Laws, 1990 Ex Sess, ch. 46, § 11; Laws, 1993, ch. 442, § 12; Laws, 1994, ch. 622, § 13; reenacted without change, Laws,  1997, ch. 497, § 12; reenacted without change, Laws, 2001, ch. 410, § 12, eff from and after July 1, 2001.