Mississippi § 81-22-9 - Handling of consumer funds [Repealed effective July 1, 2022].
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-22-9 — Handling of consumer funds [Repealed effective July 1, 2022]., with citation guidance and answers to common questions.
§ 81-22-9. Handling of consumer funds [Repealed effective July 1, 2022].
Funds deposited in escrow account.The debt management service provider shall deposit, within two (2) business days of receipt, all funds received from or on behalf of a consumer for payment to a creditor or creditors in a federally insured escrow account for the benefit of the consumer in a supervised financial organization. Any escrow account established to receive consumer funds is free from trustee process and unavailable to creditors of the debt management service provider. Requirements for handling of funds.The debt management service provider shall: Maintain separate records of account for each consumer receiving debt management services; Remit funds received from or on behalf of a consumer to the consumer’s creditor or creditors within fifteen (15) business days of receipt of the funds; and Correct or remedy any misdirected payments resulting from an error by the debt management service provider and reimburse the consumer for any actual costs or fees imposed by a creditor as a result of such misdirection. Commingling of funds.The debt management service provider may not commingle escrow accounts established for the benefit of consumers with any operating accounts of the debt management service provider.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 81-22-9
What does Mississippi Code of 1972 Annotated § 81-22-9 cover?
Section 81-22-9 ("Handling of consumer funds [Repealed effective July 1, 2022].") 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 § 81-22-9?
A common citation format is "Mississippi Code of 1972 Annotated § 81-22-9" (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 § 81-22-9 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.