Mississippi § 75-67-111 - Licensees to keep records; requirements as to.
Full text of Mississippi Mississippi Code of 1972 Annotated § 75-67-111 — Licensees to keep records; requirements as to., with citation guidance and answers to common questions.
§ 75-67-111. Licensees to keep records; requirements as to.
Each licensee shall keep and use in his business such books, accounts and other records which shall be in accordance with sound and accepted business practices and shall be in such form as will clearly reflect all loan transactions for every borrower and will enable the commissioner to determine whether the licensee is complying with the provisions of this article, or the Small Loan Privilege Tax Law (Section 75-67-201 et seq.). Such records shall be kept with respect to each loan transaction for a period of at least twenty-four (24) months after the final transaction on such loan. The records shall be kept in accordance with instructions of the commissioner and, in addition to any information which may be required by the commissioner, such records shall be so maintained as to clearly reflect, over the signature of the borrower, the following: Cash received by the borrower; Charges for interest; Charges for recording fees and insurance, if any; Total amount of note; Period of time for which loan is extended; and Federal annual percentage rate and the state contract rate. All such records shall be open to the inspection of the commissioner or his duly authorized representatives at all times during regular business hours. Any suit brought against a licensee by any person on account of the violation or alleged violation of any of the provisions of this article with reference to any loan transaction shall be brought within twenty-four (24) months after the final maturity date of the loan, and not thereafter.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 75-67-111
What does Mississippi Code of 1972 Annotated § 75-67-111 cover?
Section 75-67-111 ("Licensees to keep records; requirements as to.") 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 § 75-67-111?
A common citation format is "Mississippi Code of 1972 Annotated § 75-67-111" (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 § 75-67-111 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.