Mississippi § 37-106-51 - Authorization to establish consolidated revolving loan fund for operating forgivable loan programs.
Full text of Mississippi Mississippi Code of 1972 Annotated § 37-106-51 — Authorization to establish consolidated revolving loan fund for operating forgivable loan programs., with citation guidance and answers to common questions.
§ 37-106-51. Authorization to establish consolidated revolving loan fund for operating forgivable loan programs.
The board is authorized to establish a consolidated revolving loan fund for the purpose of providing monies for the operation of all forgivable loan programs authorized to the board and for the purpose of providing monies for the operation of such other loan programs as may be deemed appropriate and authorized by the board from time to time for the furtherance of education of eligible applicants. The board shall be charged with the duty of directing the dispensing of such funds in a manner so as to best effectuate the purpose of this section. Any monies collected in the form of repayment of loans, both principal and interest, shall be deposited in this fund. The board is authorized to maintain such revolving fund in an official state depository and, in accordance with Section 27-105-21, Mississippi Code of 1972, shall invest such funds, less the amount required for current operation, at interest as required by said section. All interest earned on such investments shall likewise be deposited in said fund. From and after the effective date of this chapter [Laws, 1991, Chapter 547, effective July 1, 1991], the sums maintained in the respective revolving funds being repealed by Chapter 547, Laws, 1991, or other revolving funds being maintained by the board shall become and constitute the monies of the consolidated revolving fund created by this section, wherever such funds may be physically located. The board is hereby authorized to transfer said funds to an official state depository, as aforesaid.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 37-106-51
What does Mississippi Code of 1972 Annotated § 37-106-51 cover?
Section 37-106-51 ("Authorization to establish consolidated revolving loan fund for operating forgivable loan programs.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 37-106-51?
A common citation format is "Mississippi Code of 1972 Annotated § 37-106-51" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 37-106-51 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.