Mississippi § 81-5-17 - Bank stock; transfer and use as collateral.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-5-17 — Bank stock; transfer and use as collateral., with citation guidance and answers to common questions.
§ 81-5-17. Bank stock; transfer and use as collateral.
The shares of stock of banks shall be deemed personal property, and shall be transferred on the books of the bank in such manner as the by-laws thereof shall direct, and as required by law. But no bank shall accept as collateral, or be the purchaser of, its own stock, except in cases where the taking of such collateral, or such purchase, shall be necessary to prevent loss upon a debt previously contracted in good faith, and in such cases, unless full payment of such debt is made, such stock shall be sold by the bank within twelve months from the date it was acquired.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 81-5-17
What does Mississippi Code of 1972 Annotated § 81-5-17 cover?
Section 81-5-17 ("Bank stock; transfer and use as collateral.") 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 § 81-5-17?
A common citation format is "Mississippi Code of 1972 Annotated § 81-5-17" (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 § 81-5-17 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.