Mississippi § 81-5-3 - Bank not to permit use of its name.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-5-3 — Bank not to permit use of its name., with citation guidance and answers to common questions.
§ 81-5-3. Bank not to permit use of its name.
It shall be unlawful for any bank or corporation liable to taxation on its capital stock to permit any person to use its name in taking promissory notes, mortgages or deeds or trust, or to permit such instruments to indicate on their face that they are payable to such bank or corporation when the money to secure which such instruments are taken is not actually advanced or is not intended to be advanced by such bank or corporation, and it shall be unlawful for any person to use the name of such bank or corporation in making loans of money. Any such bank or corporation or individual violating the provisions of this section shall be liable to a penalty of twenty-five per cent of the amount of such loan, to be recovered by the state.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 81-5-3
What does Mississippi Code of 1972 Annotated § 81-5-3 cover?
Section 81-5-3 ("Bank not to permit use of its name.") 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 § 81-5-3?
A common citation format is "Mississippi Code of 1972 Annotated § 81-5-3" (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 § 81-5-3 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.