Mississippi § 57-77-23 - Authority of corporations to engage professional services.
Full text of Mississippi Mississippi Code of 1972 Annotated § 57-77-23 — Authority of corporations to engage professional services., with citation guidance and answers to common questions.
§ 57-77-23. Authority of corporations to engage professional services.
Subject to the provisions of this section, Magnolia Capital Corporation and Magnolia Venture Capital Corporation are hereby authorized to engage legal counsel, accountants, financial advisors, appraisers, consultants and others as needed in connection with providing venture capital to businesses pursuant to this chapter, and to charge the costs of these services to the businesses receiving such assistance or charge the proceeds of such assistance therefor. However, no such professional services may be engaged unless done so through action taken by a validly appointed board of directors having the legal authority to engage such services. To the extent required by the department, such professional services shall be engaged on a statewide program basis.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 57-77-23
What does Mississippi Code of 1972 Annotated § 57-77-23 cover?
Section 57-77-23 ("Authority of corporations to engage professional services.") 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 § 57-77-23?
A common citation format is "Mississippi Code of 1972 Annotated § 57-77-23" (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 § 57-77-23 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.