Title 81, Banks and Financial Institutions

Any amendment to the articles of association must first be approved by a vote of not less than two-thirds of all of the members of the board of directors. Such proposed amendment shall then be submitted to either a regular or a special meeting of the members of the association, a…

The charter to organize any association under this chapter may be applied for by three proposed members of such association, such application to be made in the manner and form as prescribed by the chapter on corporations, when, and whereupon, such charter may be granted by the st…

Said associations may make and adopt any and all bylaws, not in conflict with the laws of the State of Mississippi, for the governing and control of its affairs. Such bylaws shall provide for such officers as may be necessary for the operation of said association, and name the ti…

The associations shall have power to invest and reinvest the surplus and sinking funds as may accumulate in its hands from time to time for the use and benefit of its members and stockholders.

So long as said associations shall be kept mutual, and shall lend only to members, they shall be exempt from all forms of taxation; that is, from state, county, municipal, levee board and public improvement taxes, excepting ad valorem taxation of motor vehicles owned by said asso…

It is the purpose of this chapter to promote, encourage and assist the united action of the farmers of the state, through co-operative methods in obtaining necessary moneys and credits for the members of the associations contemplated herein during a longer period of time and at a…

(a) The terms used in this chapter, in addition to their common use and meaning are also defined as follows:(a) The term “agricultural products” shall include horticultural, viticultural, dairy, live stock, poultry, bee, fowl, and any other farm products;(b) The term “member” sha…

Ten or more persons, a majority of whom are residents of this state, engaged in the production of any of the products named in Section 81-17-5 may form an association, with or without capital stock, under the provisions hereof.

An association may be organized hereunder to engage in any one or more of the activities mentioned above or in financing those engaged in any one or more of such activities, or engaged in doing both.