Mississippi § 81-12-113 - Reserves.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-12-113 — Reserves., with citation guidance and answers to common questions.
§ 81-12-113. Reserves.
Every association shall set up and maintain the reserves required by the board and may set up and maintain such additional reserves as are permitted by this chapter. The commissioner shall fix the amount of each association’s separate reserve account to be set up and maintained for the sole purpose of absorbing losses (termed in this chapter “general reserve”), but in no event shall such amount of such general reserve be less than the amount required by the Federal Deposit Insurance Corporation. Transfers to general reserve shall be made at such time or times as set by the commissioner.
Frequently Asked Questions About Mississippi § 81-12-113
What does Mississippi Code of 1972 Annotated § 81-12-113 cover?
Section 81-12-113 ("Reserves.") 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 § 81-12-113?
A common citation format is "Mississippi Code of 1972 Annotated § 81-12-113" (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 § 81-12-113 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.