Mississippi § 81-14-267 - Bonding.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-14-267 — Bonding., with citation guidance and answers to common questions.
§ 81-14-267. Bonding.
A savings bank shall maintain a blanket indemnity bond of at least a minimum amount as prescribed by the commissioner. A savings bank which employs collection agents, who for any reason are not covered by the bond as herein required, shall provide for the bonding of each agent in an amount equal to at least twice the average monthly collections of such agent. Such agents shall be required to make settlement with the institution at least once monthly. No such coverage by bond will be required of any agent which is an institution insured by the Federal Deposit Insurance Corporation. The amount and form of such bonds and the sufficiency of the surety thereon shall be approved by the board of directors and the commissioner before such bonds are valid. All such bonds shall provide that a cancellation thereof, either by the surety or by the insured, shall not become effective until thirty (30) days’ notice in writing has been given to the commissioner.
Frequently Asked Questions About Mississippi § 81-14-267
What does Mississippi Code of 1972 Annotated § 81-14-267 cover?
Section 81-14-267 ("Bonding.") 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 § 81-14-267?
A common citation format is "Mississippi Code of 1972 Annotated § 81-14-267" (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 § 81-14-267 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.