Savings banks shall maintain cash and readily marketable investments in an amount that may be established in the rules and regulations of the commissioner, but such amount shall not be less than ten percent (10%) of the assets of the savings bank. Upon receipt of a duly certified copy of a resolution by the board of directors of any savings bank requesting a temporary suspension, the commissioner may suspend the liquidity requirement for a period not longer than six (6) months.
Miss. Code Ann. § 81-14-353
Liquidity
Known as the Savings Bank Law
The act spans §§ 81-14-1 to 81-14-91 (108 sections).
Laws, 1992, ch. 489, § 85; reenacted without change, Laws, 1997, ch. 364, § 87; reenacted without change, Laws, 2001, ch. 457, § 87, eff from and after July 1, 2001.
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.