Mississippi Code

Miss. Code Ann. § 81-12-175 (2026)

Branch offices

✓ current as of July 2026

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(1) A branch office is a legally established place of business of the association other than the home office, authorized by the board of directors and approved as provided herein, at which savings accounts and loan payments may be accepted and applications for loans may be received, and at which account books and certificates may be issued and loans may be closed by employees of the association.

(2) Each association shall be operated from the home office. All branch offices shall be subject to direction from the home office.

(3) No association may establish or operate a branch office without authorization of the commissioner. Each application for approval of the establishment and operation of a branch office shall state the proposed location thereof, the need therefor, the functions to be performed therein, the estimated volume of business thereof, the estimated annual expense thereof and the mode of payment therefor, and shall be accompanied by a budget of the association for the current earnings period and for the next succeeding semiannual period, which reflects the estimated additional expense of the maintenance of such a branch office. A resolution adopted by the board of directors of the association authorizing the proposed branch office and specifying the location and manner in which the branch office will be financed shall be submitted with each application. The commissioner may, by regulation, require the application to state other relevant and necessary information. Applications shall be made to the commissioner; and, upon receipt, he shall make an investigation to determine whether the establishment and maintenance of such office will unduly injure any properly conducted existing association or federal association in the community where such branch office is proposed to be established. The provisions of Section 81-12-29 of this chapter shall be followed in processing such application, except that the hearing shall be before the commissioner instead of the board.

(4) No association may change the location of a branch office to a municipality other than that in which it is located without authorization of the commissioner. Each application for approval of change of location of a branch office to another municipality shall state the proposed location thereof, the need therefor, the functions to be performed therein, the estimated volume of business thereof, the estimated annual expense thereof, and the mode of payment therefor, and shall be accompanied by a budget of the association for the current earnings period and for the next succeeding semiannual period, which reflects the estimated additional expense of the maintenance of such proposed change of location of the branch office. A resolution adopted by the board of directors of the association authorizing the proposed change of location of the branch office to another municipality and specifying the location and proposed manner in which such branch office will be financed shall be submitted with each application. The commissioner may, by regulation, require the application to state other relevant and necessary information. Applications shall be made to the commissioner; and, upon receipt, he shall make an investigation to determine whether the establishment and maintenance of such office will unduly injure any properly conducted existing association or federal association in the community to which the location of such branch office is proposed to be changed. The provisions of Section 81-12-29 shall be followed in processing such applications, except that the hearing shall be before the commissioner instead of the board.

(5) No association may change the location of a branch office to another location in the same municipality without authorization by the commissioner. The commissioner shall prescribe the form of the application, prerequisites and requirements. Notice of such proposed change of location shall be given as provided in Section 81-12-29(1). If no protests are filed after such notice, the commissioner may approve such application if it meets the established prerequisites and requirements. If protests are filed, the commissioner, upon reasonable notice to the applying association and its attorney and to the protestants and their attorneys, shall hold a hearing and, based upon his written findings at such hearing, issue a certificate of approval or disapproval.

(6) No branch office in this state may be discontinued or abandoned without the consent in writing of the commissioner first obtained.

Laws, 1977, ch. 445, § 53; Laws, 1982, chs. 301, § 88; Laws, 1982, 331, § 5; reenacted, Laws, 1990 Ex Sess, ch. 52, § 89; Laws, 1993, ch. 441, § 89; reenacted and amended, Laws, 1994, ch. 622, § 121; Laws, 1996, ch. 400, § 25; reenacted without change, Laws, 1997, ch. 496, § 86; reenacted without change, Laws, 2001, ch. 488, § 88, eff. 7/1/2001.

Notes of Decisions

Cited in 4 cases, 1985–1988 · leading case: State of Tex. v. Clarke, 690 F. Supp. 573 (W.D. Tex. 1988).

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State of Tex. v. Clarke, 690 F. Supp. 573 (W.D. Tex. 1988). “This Court disagrees and finds that the branching statute does contain an affirmative branching grant. In Deposit Guaranty, the Mississippi statute allowing Mississippi savings associations branching reads, “[n]o association may establish or operate a branch office without…”

Dep't of Banking & Consum. Fin. v. Clarke, 809 F.2d 266 (5th Cir. 1987). “A savings association may open branches throughout the state, Miss.Code Ann. § 81-12-175, whereas the state commercial banks, since the 1986 amendments, are allowed to open branches only in the county in which the bank’s principal office is located, or within a 100-mile radius,…”

Dep't of Banking & Consum. Fin. v. Selby, 617 F. Supp. 566 (S.D. Miss. 1985). · cites it 2× “Miss. Code Ann. § 81-12-175 (Supp.1984). The Comptroller determined, based on cases and statutes defining the business of banking in other contexts and a study of the banking industry in Mississippi submitted by DGNB, that savings associations in Mississippi are engaged in the…”

Dept. of Banking & Consum. Fin. v. Selby, 617 F. Supp. 566 (S.D. Miss. 1985). · cites it 2× “Miss. Code Ann. § 81-12-175 (Supp.1984). The Comptroller determined, based on cases and statutes defining the business of banking in other contexts and a study of the banking industry in Mississippi submitted by DGNB, that savings associations in Mississippi are engaged in the…”

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