81-12-157 - Association may not invest in security or grant loan when liquid assets are less than five percent of savings liability. - Mississippi Statutes

§ 81-12-157. Association may not invest in security or grant loan when liquid assets are less than five percent of savings liability.
 

No association shall invest in any security, other than those that qualify as liquid assets, or in any loan at any time when its liquid assets are less than five percent (5%) of its savings liability unless the commissioner shall after investigation have issued written approval. 
 

Sources: Laws,  1977, ch. 445, § 46; reenacted, 1982, ch. 301, § 79; Laws, 1990 Ex Sess, ch. 52, § 80; Laws, 1993, ch. 441, § 80; Laws, 1994, ch. 622, § 112; reenacted without change, Laws,  1997, ch. 496, § 77; reenacted without change, Laws, 2001, ch. 488, § 79, eff from and after July 1, 2001.