At the time fixed by law for the assessment of banks, the person in charge of a branch bank shall furnish the assessor, under oath, a statement showing the amount of the capital of the parent bank employed by it, less that invested in real estate of the said branch bank, and the assessor shall assess it accordingly. The said real estate shall be assessed where situated as other real estate. The branch bank shall pay taxes, state, county and municipal, upon such assessment in the county where located, at the time and in the manner that banks are required by law to pay taxes. This shall not apply to agents who do not sell exchange, but simply make collections. The amount of capital so assessed against the branch bank shall be credited on the assessment of capital of the parent bank.
Miss. Code Ann. § 27-35-37
Branch banks, how assessed
Applied in 1 court decision — leading case 543 So. 2d 138 - Calhoun Cty. Bd. of Sup'rs v. Grenada Bk. (1989)
Most recently applied in 543 So. 2d 138 - Calhoun Cty. Bd. of Sup'rs v. Grenada Bk. (May 1989)
Codes, Hutchinson’s 1848, ch. 8, art 17 (7); 1857, ch. 3, art 15; 1871, § 1668; 1880, § 473; 1892, § 3750; 1906, § 4259; Hemingway’s 1917, § 6892; 1930, § 3139; 1942, § 9763.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.