Mississippi § 81-14-305 - Prohibited security.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-14-305 — Prohibited security., with citation guidance and answers to common questions.
§ 81-14-305. Prohibited security.
No savings bank, or subsidiary thereof, may accept its own capital stock or its own mutual capital certificates as security for any loan made by such savings bank. Further, no loans of any type shall be made, either directly or indirectly, for purposes relating to its own stock.
Frequently Asked Questions About Mississippi § 81-14-305
What does Mississippi Code of 1972 Annotated § 81-14-305 cover?
Section 81-14-305 ("Prohibited security.") 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 § 81-14-305?
A common citation format is "Mississippi Code of 1972 Annotated § 81-14-305" (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 § 81-14-305 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.