Title 27, Taxation and Finance

The commission hereby created shall have authority to adopt and promulgate such rules and regulations as may be reasonable and proper to properly and effectively carry out the purpose of this article. The commission shall elect a secretary from its membership, or otherwise, who s…

When any payment shall be made into the state depository in pursuance of this article, the depository shall give the person making such payment triplicate receipts specifying the account on which the payment is made, one of which shall be immediately mailed to the state treasurer…

All institutions and departments which withdraw funds from the State Treasury, all agencies and departments of the state government whose funds are not deposited in the State Treasury, and all agencies and departments of the state government which maintain imprest funds are hereb…

In making settlements with the auditor of public accounts, the tax collector of each county shall pay the amount due the state over to a state depository in his county, if there be one in his county, otherwise he shall make payment in some other state depository, most convenient …

(1) In the event of the failure of any public funds depository to pay any check lawfully issued by the State of Mississippi or any agency or department of the state or any county, municipality or other governmental unit on any funds on deposit belonging to the State of Mississipp…

The making of profit, directly or indirectly, by the State Treasurer, tax collector, treasurer of any board of trustees, or any officers whatsoever, out of any money belonging to the state, with the custody of which the state treasurer is charged, by loaning or otherwise using it…

If any officer, treasurer of board of trustees, or other custodian of the state’s money shall wilfully fail or refuse, at any time, to do or perform any act required of him by this article, he shall be guilty of a misdemeanor and, upon conviction thereof, shall be sentenced to pa…

(a) As used in this chapter:(a) The words “bank” or “banks,” whenever used in this chapter, shall include trust companies.(b) The term “pooled investment vehicle” means any investment fund, account or trust in which public monies from two (2) or more funds, accounts or trusts are…

When the Governor of the State of Mississippi and the State Treasurer are each individually performing their respective duties as required by Article 5, Section 137 of the Mississippi Constitution of 1890 [Section 137 repealed], each shall recognize, treat, and count receipts of …

(1) No later than August 1 of each year, the State Treasurer shall review each public fund, account or trust that receives interest allocation from a pooled investment vehicle to determine if the fund, account or trust that receives interest had no transactional activity, other t…

(1) It shall be the duty of the State Treasurer and the State Fiscal Officer on or about the tenth day of each month, and in their discretion at any other time, to analyze carefully the amount of cash in the General Fund of the state and in all special funds credited to any speci…

(1) Each state agency shall review its funds, accounts or trusts held within and outside of the State Treasury and shall report to the State Treasurer and the Department of Finance and Administration no later than September 30, 2026, the following information:(a) The name of each…

(a) The state depository commission, composed of the Governor, Attorney General, and State Treasurer, shall meet annually in the month of February, and more often, if necessary, on call of any member of the commission. The commission shall keep a full and correct record of its pr…

All banks in this state are required to accept all checks and drafts that are payable to any state department, agency, board or commission, only for deposit to the credit of the particular payee to which such checks or drafts are payable, or to issue cashier’s checks, certified c…

(1) Any financial institution maintaining a deposit-taking facility in this state whose accounts are insured by the Federal Deposit Insurance Corporation or any successors to that insurance corporation, may qualify as a public funds depository by submitting an application to the …

(1) There is established within the State Treasury a public funds guaranty pool to consist of qualified public funds depositories commissioned under Section 27-105-5(2) to be administered by a Guaranty Pool Board and the State Treasurer. (2) There is established a nine-member Gua…

The Governor, Attorney General and auditor are authorized to cancel any coupon state bonds payable to bearer and to issue registered bonds in lieu thereof whenever such state bonds are offered as security for deposit. They shall make a full report of all such cancellations and is…

The State Treasurer shall give notice of the provisions of this article once a month to each eligible bank and financial institution in the state having an amount of state funds less than the amount authorized to be allocated to the bank or financial institution under Section 27-…

The adoption of this code shall not be construed as repealing any law or laws providing for deposits by and loans of the board of commissioners for the Yazoo-Mississippi delta levee district and the board of Mississippi levee commissioners.

The amount of money belonging to the several funds in the county treasury of each county in the state which is required to meet the current needs and demands of no more than seven (7) business days shall be kept on deposit in or through qualified financial institutions whose acco…

(a) Beginning on July 1, 2025, the board of supervisors at the regular December meeting, and annually thereafter or, in the discretion of the board of supervisors, thereafter at such other interval of time as determined by the board of supervisors, up to every four (4) years, sha…

When no bid is made by any qualified financial institution in the county or in the adjoining county to qualify as a depository at the January meeting, the board of supervisors shall readvertise at some subsequent meeting for a depository and select same, in the manner provided by…

Any county failing to secure a county depository by the advertisement to the qualified financial institutions of the county and of the adjoining counties, shall readvertise at any subsequent meeting of the board of supervisors, and as soon as possible, for bids for a county depos…

The clerk of the board of supervisors shall mail a copy of the notice provided for in Section 27-105-309 to the State Treasurer, who shall make efforts to have some qualified financial institution in the state submit bids for such depository.

It shall be unlawful for any officer in any financial institution, or any other person, to make an agreement of any kind with the intent and purpose of keeping any financial institution from bidding for county deposits, whether such agreement be express or implied, and any person…

(1) Any financial institution in a county, or in an adjoining county where there is no financial institution in the county qualifying, whose accounts are insured by the Federal Deposit Insurance Corporation or any successors to that insurance corporation may qualify as a county d…

A county depository must be issued a commission under Section 27-105-11 before receipt of county deposits.

When any payment of county funds shall be made into a county depository in pursuance of this article, the depository shall give the person making such payment triplicate receipts, specifying the accounts on which the payment is made, one of which shall be immediately mailed to th…

In any county where a county depository or depositories shall qualify as herein provided, every such depository, at the regular January, April, July and October meetings of the board of supervisors, and at such other times as may be required by the board, shall make to the board …

In making a settlement with the county treasury, the tax collector of each county shall pay the amount due the county to a county depository, according to law and the rules of the board of supervisors. The tax collector, in making deposits, shall receive duplicate receipts for th…

The amount to be paid by any and all depositories for the privilege of keeping county funds on deposit, if required to be paid under the provisions of Section 27-105-303, shall be computed on the average daily balance of the public money kept on deposit therewith and there be cre…

In the event of the failure of any county depository to pay any county warrant lawfully issued on any funds on deposit belonging to the county in the depository, the county is empowered to order the State Treasurer to sell such securities as are placed with the State Treasurer by…

The State Treasurer, on behalf of any county in the State of Mississippi that has acquired bonds or other securities as the result of the closing of the depository or depositories of the county, is authorized and empowered in his discretion to sell, trade, refinance or agree to t…

In any county in this state where no depository or depositories were selected and qualified, as provided by law, on or before the first Monday of January 1932, or in which the depository or depositories are not selected and qualified annually thereafter on or before the first Mon…

In the event no financial institution qualifies as county depository as provided by law prior to the first Monday in January, 1986, or does not qualify on or before said date annually thereafter, and the board of supervisors does not designate a county depository which qualifies …

Upon the selection of any county depository, either upon bids therefor or by designation of the board of supervisors or the Commissioner of Banking and Consumer Finance, and such designated financial institution becoming qualified as required by law, the tax collector of such cou…

In counties where county depositories have been designated and qualified as provided by law or which shall hereafter be designated and qualified as provided by law but not for an amount sufficient to cover all county funds belonging to such counties, the provisions of Sections 27…

Sections 27-105-333 through 27-105-339 shall not be held to modify or repeal any existing law relative to county depositories and the deposit of county funds, but are expressly intended to extend the existing laws of the state and provide additional methods of selecting county de…

From and after March 19, 1932, all the duties except the duty of receiving and disbursing money that were imposed by law on county treasurers shall be required to be done by chancery clerks, and they shall be the custodians of all the books, records, papers, and vouchers heretofo…

The making of profit, directly or indirectly, by the county treasurer, tax collector, treasurer of any board of trustees, or any officer whatever, out of any money belonging to a county, the custody of which the county treasurer or other officer is charged with, by loaning or oth…

If any officer, treasurer, sheriff, tax collector, member of the board of supervisors, or other person charged with the enforcement of this article, shall at any time fail or refuse to perform any act required of him by this article, he shall be guilty of a misdemeanor, and, upon…

(a) The State Treasurer is authorized and empowered to allow county depositories of county funds or county district funds of every kind and character to withdraw any bonds pledged or filed or deposited as security for those deposits:(a) When in the opinion of the State Treasurer …

All funds coming into the county treasury belonging to any drainage district shall be deposited in the county depositories under the same conditions as county funds are deposited, to be drawn by the proper parties and in the manner provided by law. All tax collectors may pay drai…

The board of mayor and aldermen or other municipal authorities of each and every city, town or village in the state are required to select a depository in the manner provided by law for the selection of county depositories, including the same intervals of time as counties for rec…

Each depository shall enter into bond, or deposit securities with the State Treasurer as required of county depositories; the bond or security to be approved by the State Treasurer.

The duties of a depository are hereby made the same in respect to the municipal fund as the duties imposed upon county depositories or in respect to county funds. The penalties for making profit on or removing municipal funds are hereby made the same as those provided by law agai…