If there is a corporate borrower, the committee shall require the personal guarantee or endorsement of any principal or entity owning at least twenty percent (20%) of the corporation that is borrowing money from any lender under the provisions of this article, and the committee may also require any other guarantees it deems appropriate.
Miss. Code Ann. § 57-10-117
Supplementary security requirement for corporate borrower
Codes, 1942, § 8940-139; Laws, 1972, ch. 441, § 9; Laws, 1995, ch. 548, § 3, eff from and after passage (approved April 6, 1995
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.