GroundRules
Miss. Code Ann. § 81-13-11: Power.
Where this section sits in the code
- Title 81. Banks and Financial Institutions
- Chapter 13. Credit Unions
In addition to the general powers authorized for corporations in Section 79-3-7, a credit union shall have the following specific powers:
(a) It may receive the savings of its members in payment for shares and on deposit and investments by other credit unions on deposit.
(b) It may make loans to members, authorized by the credit committee, and may make loans to other credit unions, committee members and directors, as authorized by the board of directors.
(c) It may invest, through the board of directors, only in accordance with NCUA’s rules and regulations, Federal Credit Union Act, and any interpretive rulings issued by the NCUA.
The funds of the credit union shall be used first, however, for loans to members and preference shall be given to the smaller loan in the event the available funds do not permit all loans to be made which have been approved by the credit committee or loans officers.
Collected 2026-10-27T05:54:28Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source