Mississippi § 83-31-35 - Money advanced by officers or members.
Full text of Mississippi Mississippi Code of 1972 Annotated § 83-31-35 — Money advanced by officers or members., with citation guidance and answers to common questions.
§ 83-31-35. Money advanced by officers or members.
Any director, officer, or member of any such company, or any other person, may advance to such company any sum or sums of money necessary for the purpose of its business or to enable it to comply with any of the requirements of the law. Such moneys and such interest thereon as may have been agreed upon, not exceeding ten percent (10%) per annum, shall not be a liability or claim against the company or any of its assets, except as herein provided, and shall be repaid only out of the surplus earnings of such company. No commission nor promotion expenses shall be paid in connection with the advance of any such money to the company, and the amount of such advance shall be reported in each annual statement.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 83-31-35
What does Mississippi Code of 1972 Annotated § 83-31-35 cover?
Section 83-31-35 ("Money advanced by officers or members.") 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 § 83-31-35?
A common citation format is "Mississippi Code of 1972 Annotated § 83-31-35" (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 § 83-31-35 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.