No association shall invest in any security, other than those that qualify as liquid assets, or in any loan at any time when its liquid assets are less than five percent (5%) of its savings liability unless the commissioner shall after investigation have issued written approval.
Miss. Code Ann. § 81-12-157
Association may not invest in security or grant loan when liquid assets are less than five percent of savings liability
Known as the Savings Association Law
The act spans §§ 81-12-1 to 81-12-99 (121 sections).
Laws, 1977, ch. 445, § 46; reenacted, Laws, 1982, ch. 301, § 79; Laws, 1990 Ex Sess, ch. 52, § 80; Laws, 1993, ch. 441, § 80; Laws, 1994, ch. 622, § 112; reenacted without chang…
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.