81-12-103 - Records; overvaluation of assets. - Mississippi Statutes

§ 81-12-103. Records; overvaluation of assets.
 

The commissioner, after a determination of value made in accordance with Section 81-12-177(8), may order that assets, individually or in the aggregate, to the extent that such assets are overvalued on an association's books, be charged off, or that a special reserve or reserves equal to such overvaluation be set up by transfers from undivided profits or reserves. 
 

Sources: Laws,  1977, ch. 445, § 29(8, 9); reenacted, 1982, ch. 301, § 52; Laws, 1990 Ex Sess, ch. 52, § 53; Laws, 1993, ch. 441, § 53; reenacted and amended, 1994, ch. 622, § 85; Laws, 1996, ch. 400, § 23; reenacted without change, Laws,  1997, ch. 496, § 50; reenacted without change, Laws, 2001, ch. 488, § 52, eff from and after July 1, 2001.