GroundRules
Miss. Code Ann. § 81-13-60: Establishment of branch office.
Where this section sits in the code
- Title 81. Banks and Financial Institutions
- Chapter 13. Credit Unions
(1) Any state credit union may apply to the Commissioner of Banking and Consumer Finance for permission to establish a branch office. The application shall be in such a form as may be prescribed by the commissioner and shall be approved or denied by the commissioner within one hundred twenty (120) days of filing.
(2) The commissioner shall approve a branch application when all of the following criteria are met:
(a) The applicant has an examination rating of two (2) or higher;
(b) The applicant has capital ratios equal or exceeding the amount required by the insurer of deposit accounts;
(c) The applicant has no formal or informal enforcement actions outstanding; and
(d) The applicant has demonstrated that its members would be well served by the branch.
(3) If the commissioner denies the branch application, the branch applicant will have the right of a hearing as prescribed in Section 81-13-1 for those applicants denied a new credit union.
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