Mississippi § 65-13-51 - Designation of depository.
Full text of Mississippi Mississippi Code of 1972 Annotated § 65-13-51 — Designation of depository., with citation guidance and answers to common questions.
§ 65-13-51. Designation of depository.
The board of trustees shall designate one or more banks within the county to serve as depositories for the funds of the authority, and all funds of the authority shall be deposited in such depository bank or banks. Before designating a depository bank or banks, the trustees shall issue a notice stating the time and place the trustees will meet for such purpose and inviting the banks in the area to submit applications to be designated depositories. The term of service for depositories shall be prescribed by the trustees. Such notice shall be published one time in a newspaper or newspapers published in the area and specified by the trustees. At the time mentioned in the notice, the trustees shall consider the applications and the management and condition of the banks filing them, and shall designate as depositories the bank or banks which offer the most favorable terms and conditions for the handling of the funds of the authority and which the trustees find have proper management and are in condition to warrant handling of authority funds. Membership on the board of trustees of an officer or director of a bank shall not disqualify such bank from being designated as a depository. If no applications acceptable to the trustees are received by the time stated in the notice, the trustees shall designate some bank or banks within or without the authority upon such terms and conditions as they may find advantageous to the authority.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 65-13-51
What does Mississippi Code of 1972 Annotated § 65-13-51 cover?
Section 65-13-51 ("Designation of depository.") 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 § 65-13-51?
A common citation format is "Mississippi Code of 1972 Annotated § 65-13-51" (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 § 65-13-51 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.