Mississippi § 81-13-11 - Power.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-13-11 — Power., with citation guidance and answers to common questions.
§ 81-13-11. Power.
In addition to the general powers authorized for corporations in Section 79-3-7, a credit union shall have the following specific powers: It may receive the savings of its members in payment for shares and on deposit and investments by other credit unions on deposit. It may make loans to members, authorized by the credit committee, and may make loans to other credit unions, committee members and directors, as authorized by the board of directors. It may invest, through the board of directors, only in accordance with NCUA’s rules and regulations, Federal Credit Union Act, and any interpretive rulings issued by the NCUA. The funds of the credit union shall be used first, however, for loans to members and preference shall be given to the smaller loan in the event the available funds do not permit all loans to be made which have been approved by the credit committee or loans officers.
Frequently Asked Questions About Mississippi § 81-13-11
What does Mississippi Code of 1972 Annotated § 81-13-11 cover?
Section 81-13-11 ("Power.") 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 § 81-13-11?
A common citation format is "Mississippi Code of 1972 Annotated § 81-13-11" (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 § 81-13-11 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.