GroundRules
Miss. Code Ann. § 81-14-267: Bonding.
Where this section sits in the code
- Title 81. Banks and Financial Institutions
- Chapter 14. Savings Bank Law
- Article 6. Corporate Administration.
(1) A savings bank shall maintain a blanket indemnity bond of at least a minimum amount as prescribed by the commissioner.
(2) A savings bank which employs collection agents, who for any reason are not covered by the bond as herein required, shall provide for the bonding of each agent in an amount equal to at least twice the average monthly collections of such agent. Such agents shall be required to make settlement with the institution at least once monthly. No such coverage by bond will be required of any agent which is an institution insured by the Federal Deposit Insurance Corporation. The amount and form of such bonds and the sufficiency of the surety thereon shall be approved by the board of directors and the commissioner before such bonds are valid. All such bonds shall provide that a cancellation thereof, either by the surety or by the insured, shall not become effective until thirty (30) days’ notice in writing has been given to the commissioner.
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