81-13-57 - Refunds to expelled or withdrawing members. - Mississippi Statutes

§ 81-13-57. Refunds to expelled or withdrawing members.
 

All amounts paid in on shares of an expelled or withdrawing member with any dividends credited to his shares to the date of expulsion or withdrawal shall be paid to said member but only as funds therefor become available and after deducting any amounts due to the corporation by said member. All deposits of an expelled or withdrawing member, with any interest accrued, shall be paid to such member, subject to ninety (90) days' notice, and after deducting any amounts due to the corporation by said member. Said member, when withdrawing shares or deposits, shall have no further right in said credit union or to any of its benefits, but such expulsion or withdrawal shall not operate to relieve such member from any remaining liability to the corporation. 
 

Sources: Codes, 1930, § 4258; 1942, § 5419; Laws,  1924, ch. 177; reenacted without change, 1982, ch. 304, § 3; reenacted, 1995, ch. 374, § 30; reenacted without change, Laws,  1997, ch. 368, § 28; reenacted without change, Laws, 2001, ch. 408, § 28, eff from and after July 1, 2001.