AN ACT TO AMEND SECTION 89-12-3, MISSISSIPPI CODE OF 1972, TO DEFINE THE TERM FARM CREDIT SYSTEM COOPERATIVE ASSOCIATIONS UNDER THE PROVISIONS OF THE UNIFORM DISPOSITION OF UNCLAIMED PROPERTY ACT; TO AMEND SECTION 89-12-11, MISSISSIPPI CODE OF 1972, TO EXEMPT FARM CREDIT SYSTEM COOPERATIVE ASSOCIATIONS FROM THE REQUIREMENTS TO DISPOSE OF STOCK OR OTHER INTANGIBLE OWNERSHIP INTERESTS, DIVIDENDS, DISTRIBUTIONS OR PROPERTY PRESUMED TO BE ABANDONED BY AN OWNER AFTER THE SPECIFIED FIVE-YEAR PERIOD IN THE MANNER PRESCRIBED BY LAW; TO ALLOW FARM CREDIT SYSTEM COOPERATIVE ASSOCIATIONS TO RETAIN THE UNCLAIMED FUNDS WHICH SHALL BE USED FOR THE BENEFIT OF THE GENERAL MEMBERSHIP OF THE ASSOCIATION; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 89-12-3, 89-12-11
As Passed by the House: 89-12-3, 89-12-11
Approved by the Governor: 89-12-3, 89-12-11