STATE STATUTES & CODES

MISSISSIPPI STATUTES AND CODES

Chapter 5 - General Provisions Relating to Banks and Banking.

• 81-5-1 - General regulations.
• 81-5-2 - Private corporation laws; application to state banks.
• 81-5-3 - Bank not to permit use of its name.
• 81-5-5 - Local and regional banks for farm loans authorized.
• 81-5-7 - Preservation of old records.
• 81-5-9 - Banks shall become members of the Federal Deposit Insurance Corporation.
• 81-5-11 - State banks may become members of Federal Reserve Bank.
• 81-5-13 - Federal Reserve Act requirements must be observed.
• 81-5-15 - Officers and employees of banks to furnish fidelity bond; insurance.
• 81-5-17 - Bank stock; transfer and use as collateral.
• 81-5-19 - Stock; record of transfer of to be kept.
• 81-5-21 - Stock of other banks not to be owned.
• 81-5-23 - Preferred stock; issuance authorized.
• 81-5-25 - Investments in stock of small business investment companies.
• 81-5-27 - Liability of stockholders.
• 81-5-28 - Bank holding companies; definitions; control of banks.
• 81-5-29 - Corporations may be formed to purchase, hold and own bank assets.
• 81-5-31 - Voting trusts prohibited.
• 81-5-33 - Powers in regard to trusts.
• 81-5-34 - Accounts of administrators, executors, guardians, trustees, and other fiduciaries.
• 81-5-35 - State and national banks acting in fiduciary capacity not required to file bond; exception.
• 81-5-37 - Uniform Common Trust Fund Law.
• 81-5-39 - Banks may register securities held in fiduciary capacity in name of bank's nominee.
• 81-5-40 - Repealed.
• 81-5-41 - Foreign investors may engage in certain activities without qualifying.
• 81-5-43 - Out-of-state banking and trust associations and corporations may act as executors, administrators, trustees and guardians.
• 81-5-45 - Qualification and oath of directors; meetings; executive and auditing committee.
• 81-5-47 - Directors may contract to sell stock while continuing to serve.
• 81-5-49 - Interlocking directorates prohibited.
• 81-5-51 - Loans to directors and executive officers.
• 81-5-53 - Limitation of liability when dealing with agents, trustees, etc.
• 81-5-55 - Name of depositors not to be disclosed.
• 81-5-56 - Month and year checking account opened to be printed on face of checks.
• 81-5-57 - Excess deposits; limit and penalty.
• 81-5-59 - Deposit of minors.
• 81-5-61 - Safe deposit boxes; leasing to minors.
• 81-5-62 - Accounts payable at death.
• 81-5-63 - Deposit in name of two or more persons; payments to successors of deceased depositors without administration; "successor" defined.
• 81-5-65 - Accounts of deceased depositors to be reported; publicity of same.
• 81-5-67 - Settlement of adverse claims to deposits.
• 81-5-69 - Repealed.
• 81-5-71 - Certifying checks.
• 81-5-73 - Repealed.
• 81-5-75 - Authorization for payment of dividend.
• 81-5-77 - Limit of loans to single borrower.
• 81-5-79 - Small loans.
• 81-5-81 - Effect of third-party deposits to induce making of unsound loans.
• 81-5-83 - Limit of borrowing power of banks.
• 81-5-85 - Consolidation, conversion or merger of state or state and national banks, state or federal savings and loan associations and state-chartered banks, and state or federal savings banks and sta
• 81-5-87 - Holding of real estate by bank.
• 81-5-89 - Limitations upon acceptances.
• 81-5-91 - Repealed.
• 81-5-93 - Clearinghouse associations authorized.
• 81-5-95 - Powers of clearinghouse associations.
• 81-5-97 - Banking hours.
• 81-5-98 - Drive-in teller windows and branch offices considered to be branch banks.
• 81-5-99 - Repealed.
• 81-5-100 - Establishment of electronic banking terminals.
• 81-5-101 - Dissolution of solvent banks.
• 81-5-103 - General penalty.
• 81-5-105 - Standard of care for bank directors established.

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