In the case of any investment made by an association in a real estate loan where the ownership of the real estate security or any part thereof later becomes vested in a person other than the party or parties originally executing the security instruments, unless there is an agreement in writing to the contrary, an association may, without notice to such party or parties, deal with such successor or successors in interest with reference to said mortgage and the debt thereby secured in the same manner as with such party or parties, and may forbear to sue or may extend time for payment of or otherwise modify the terms of the debt secured thereby, without discharging or in any way affecting the liability of such original party or parties thereunder or upon the debt thereby secured.
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