Associations shall have power to invest in securities as follows:
Without limit, in obligations of, or obligations which are fully guaranteed as to principal and interest by, the United States or this state; in stock or obligations of any federal home loan bank or banks; in stock or obligations of the Federal Deposit Insurance Corporation; in stock or obligations of the Federal National Mortgage Association, the Government National Mortgage Association, Federal Home Loan Mortgage Corporation, or any successor or successors thereto; in demand, time, or savings deposits, accounts or other obligations of any financial institution the accounts of which are insured by a federal agency; in bankers' acceptances which are eligible for purchase by Federal Reserve banks;
Not in excess of twenty-five percent (25%) of its assets in (i) bonds, notes or other evidences of indebtedness which are a general obligation of, or guaranteed as to principal and interest by, any agency or instrumentality of the United States not specified in subsection (a) or of this state, or any city, town, village, county, district or other municipal corporation or political subdivision of this state, or any public instrumentality or public authority of any one or more of the foregoing; (ii) capital stock, obligations, or other securities of service organizations, provided that the commissioner shall establish by regulation the permissible aggregate of such investments as a percentage of assets; and (iii) other stocks, securities and obligations which the board shall approve and place on a list to be published and distributed to every association from time to time, and the commissioner is directed to publish and make distribution of such a list. An association holding investments which are so listed by the commissioner shall have a reasonable time to dispose of the same if at a later time the commissioner shall remove such investments from the list.
Structure Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 12 - Savings Associations Law
§ 81-12-1. Citation of chapter
§ 81-12-4. Private corporation laws; application to savings and loan associations
§ 81-12-7. Rights, powers, privileges and duties of board
§ 81-12-9. Determinations of commissioner final; judicial review
§ 81-12-11. Duties of department
§ 81-12-25. Incorporation; petition; fee; articles; bylaws; exhibits
§ 81-12-27. Incorporation; examination and investigation of petition
§ 81-12-49. Powers of associations
§ 81-12-51. Additional powers of capital stock associations
§ 81-12-53. Conversion of association organized under state law into federal association
§ 81-12-55. Conversion of federal association into association organized under state law
§ 81-12-63. Conversion prohibited; exceptions
§ 81-12-65. Reorganization, merger and consolidation of associations
§ 81-12-75. Membership fees prohibited
§ 81-12-85. Bonding of association's officers, attorneys, employees, agents and directors
§ 81-12-89. Deposit of association funds; approval by directors
§ 81-12-93. Management contracts
§ 81-12-95. Records; minutes of meetings; business transactions
§ 81-12-99. Records; maintenance by means of data processing services
§ 81-12-103. Records; overvaluation of assets
§ 81-12-107. Records; loan and investment
§ 81-12-109. Records; membership and stockholder
§ 81-12-111. Records; reproduction by photostatic, photographic or microfilming process
§ 81-12-119. Savings accounts; execution of contract by holder
§ 81-12-121. Savings accounts; evidence of ownership
§ 81-12-123. Savings accounts; lost or destroyed account books or certificates
§ 81-12-125. Savings accounts; inducements to open
§ 81-12-127. Savings accounts; adverse claims to accounts
§ 81-12-129. Savings plans at educational institutions
§ 81-12-131. Payroll savings plans
§ 81-12-133. Attorneys authorized to make withdrawals; revocation of authority
§ 81-12-139. Accounts of administrators, executors, guardians, trustees, and other fiduciaries
§ 81-12-141. Accounts of deceased nonresidents
§ 81-12-143. Payments to successors without administration
§ 81-12-145. Accounts payable at death
§ 81-12-149. Payment of earnings on savings accounts
§ 81-12-151. Withdrawals by savings account holders
§ 81-12-155. Securities in which associations may invest
§ 81-12-159. Loans and other investments in which associations may invest
§ 81-12-161. Real estate loans to be written on approved loan plans
§ 81-12-167. Late payment charges
§ 81-12-169. Reinstatement of loan prior to foreclosure sale
§ 81-12-171. Right of association to deal with successor in interest of real estate securing loan
§ 81-12-173. Right to act to avoid loss
§ 81-12-176. Branch offices; additional types of offices
§ 81-12-179. Order of discontinuance of violation; enforcement in chancery court
§ 81-12-184. Supervisory merger
§ 81-12-185. Restrictions on appointment of conservator or receiver
§ 81-12-191. Federal associations domiciled in state
§ 81-12-195. Offering and sale of savings accounts exempt from securities regulations
§ 81-12-205. Appeal from final rule, regulation or order of commissioner or board
§ 81-12-217. Commissioner to issue supervisory control for association
§ 81-12-219. Appeal of cease and desist order
§ 81-12-221. Reimbursement of fines or penalties
§ 81-12-223. Cumulative fines and penalties
§ 81-12-225. Credit allowed; discretion of commissioner
§ 81-12-227. Amount of liability to association for loans
§ 81-12-229. Commissioner to furnish copy of call reports; fee; failure or refusal; misdemeanor