81-14-305 - Prohibited security. - Mississippi Statutes

§ 81-14-305. Prohibited security.
 

No savings bank, or subsidiary thereof, may accept its own capital stock or its own mutual capital certificates as security for any loan made by such savings bank. Further, no loans of any type shall be made, either directly or indirectly, for purposes relating to its own stock. 
 

Sources: Laws,  1992, ch. 489, § 75; reenacted without change, Laws,  1997, ch. 364, § 77; reenacted without change, Laws, 2001, ch. 457, § 77, eff from and after July 1, 2001.