81-12-201 - Advertising for deposits prohibited; exception as to certain state and federal banks, credit unions and associations. - Mississippi Statutes

§ 81-12-201. Advertising for deposits prohibited; exception as to certain state and federal banks, credit unions and associations.
 

From and after July 1, 1977, no person, whether or not incorporated, other than a bank or credit union organized under the laws of this state or of the United States, or an association organized under the laws of this state or of the United States, shall advertise by newspaper, radio, television, or other commercial media for deposits of money from the public. The commissioner shall have authority to enforce this prohibition by injunctive relief in the chancery court in which any such person may be a resident or domiciled. 
 

Sources: Laws,  1977, ch. 445, § 62; reenacted, 1982, ch. 301, § 101; Laws, 1990 Ex Sess, ch. 52, § 104; Laws, 1993, ch. 441, § 105; Laws, 1994, ch. 622, § 137; reenacted without change, Laws,  1997, ch. 496, § 102; reenacted without change, Laws, 2001, ch. 488, § 104, eff from and after July 1, 2001.