81-5-3 - Bank not to permit use of its name. - Mississippi Statutes

§ 81-5-3. Bank not to permit use of its name.
 

It shall be unlawful for any bank or corporation liable to taxation on its capital stock to permit any person to use its name in taking promissory notes, mortgages or deeds or trust, or to permit such instruments to indicate on their face that they are payable to such bank or corporation when the money to secure which such instruments are taken is not actually advanced or is not intended to be advanced by such bank or corporation, and it shall be unlawful for any person to use the name of such bank or corporation in making loans of money. Any such bank or corporation or individual violating the provisions of this section shall be liable to a penalty of twenty-five per cent of the amount of such loan, to be recovered by the state. 
 

Sources: Codes, 1942, § 5190; Laws,  1934, ch. 146.