Mississippi § 81-19-27 - Separate account required for charges and fees collected by broker; authorization to withdraw from account.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-19-27 — Separate account required for charges and fees collected by broker; authorization to withdraw from account., with citation guidance and answers to common questions.
§ 81-19-27. Separate account required for charges and fees collected by broker; authorization to withdraw from account.
Loan charges and fees collected on behalf of a lender by the licensee from a borrower shall be deposited and kept in an account maintained solely for that purpose and totally apart and separate from the monies of the licensee. Withdrawals of loan charges and fees from the separate account shall be only at the direction of the lender, an escrow agent or a loan closing attorney. Proof of the authorization to withdraw and pay out loan charges and fees shall be retained by the licensee.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 81-19-27
What does Mississippi Code of 1972 Annotated § 81-19-27 cover?
Section 81-19-27 ("Separate account required for charges and fees collected by broker; authorization to withdraw from account.") 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 § 81-19-27?
A common citation format is "Mississippi Code of 1972 Annotated § 81-19-27" (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 § 81-19-27 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.