Mississippi § 51-9-149 - Depository for funds of district.
Full text of Mississippi Mississippi Code of 1972 Annotated § 51-9-149 — Depository for funds of district., with citation guidance and answers to common questions.
§ 51-9-149. Depository for funds of district.
The board of directors shall designate one or more qualified state depositories within the district to serve as depositories for the funds of the district, and all funds of the district other than funds required by any trust agreement to be deposited, from time to time, with the trustee or any paying agent for outstanding bonds of the district shall be deposited in such depository or depositories. Any such designated depository shall be eligible to hold funds of the district to the extent that it is qualified as a depository for state funds. Before designating a depository or depositories, the board of directors shall issue a notice stating the time and place the board will meet for such purpose and inviting the qualified state depositories in the district to submit applications to be designated depositories. The term of service for depositories shall be prescribed by the board. Such notice shall be published one (1) time in a newspaper or newspapers published in the district and specified by the board. At the time mentioned in the notice, the board shall consider the applications and the management and condition of the depositories filing them, and shall designate as depositories the qualified state depository or depositories which offer the most favorable terms and conditions for the handling of the funds of the district and which the board finds have proper management and are in condition to warrant handling of district funds. Membership on the board of directors of an officer or director of a depository shall not disqualify such depository from being designated as a depository. If no applications acceptable to the board are received by the time stated in the notice, the board shall designate some qualified state depository or depositories within or without the district upon such terms and conditions as it may find advantageous to the district. Any such designated depository shall be eligible to hold funds of the district to the extent that it is qualified as a depository for state funds.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 51-9-149
What does Mississippi Code of 1972 Annotated § 51-9-149 cover?
Section 51-9-149 ("Depository for funds of district.") 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 § 51-9-149?
A common citation format is "Mississippi Code of 1972 Annotated § 51-9-149" (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 § 51-9-149 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.