81-5-5 - Local and regional banks for farm loans authorized.
§ 81-5-5. Local and regional banks for farm loans authorized.
Local and regional banks for the purpose of making and floating loans upon farms in the State of Mississippi may be established under any legislation enacted or to be enacted by Congress and in such manner as may be provided by Congress and any bonds representing loans on farms and bearing a rate of interest of six per cent or less per annum, shall be exempt from all state and other taxation.
Sources: Codes, 1942, § 5278; Laws, 1934, ch. 146.