81-1-81 - Examination of banks. - Mississippi Statutes

§ 81-1-81. Examination of banks.
 

It shall be the duty of the commissioner to apportion the work of examining banks among the examiners in such a way that each bank, under the provisions of law, shall be examined at least once during an eighteen-month period and more often, if necessary, in the discretion of the commissioner, at irregular intervals and without prior notice. However, neither the commissioner nor any examiner shall examine one (1) bank twice in succession unless the commissioner, for cause, so determines. In the event the commissioner's office, because of work load or other good sufficient cause, is unable to conduct an examination of a bank as provided for in this section, the commissioner is hereby authorized to accept the examination of any state bank performed by the Federal Deposit Insurance Corporation or the Federal Reserve Bank in lieu of the examination provided for in this section. However, in no case shall the commissioner be authorized to accept any such examination of any state bank performed by either the Federal Deposit Insurance Corporation or the Federal Reserve Bank for any two (2) consecutive eighteen-month periods. 
 

Sources: Laws,  1980, ch. 312, § 14; reenacted, 1982, ch. 303, § 14; Laws, 1990 Ex Sess, ch. 46, § 13; Laws, 1993, ch. 442, § 14; Laws, 1994, ch. 622, § 15; Laws, 1995, ch. 308, § 10; reenacted without change, Laws,  1997, ch. 497, § 14; reenacted without change, Laws, 2001, ch. 410, § 14, eff from and after July 1, 2001.