Corpus

Limitation on outstanding money transmissions or checks in Mississippi.

Miss. Code Ann. § 75-15-25
in effect
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Whenever the bond or securities deposit required under Section 75-15-11 is less than Five Hundred Thousand Dollars ($500,000.00), the licensee may not at any time have a total amount in outstanding money transmissions or checks in Mississippi, in excess of the bond or securities deposit required of him under Section 75-15-11, and the licensee shall, in accordance with rules and regulations promulgated by the commissioner under this chapter, submit a written report to the commissioner on the last business day of each month regarding his money transmissions outstanding in Mississippi, whether issued by himself or through agents, provided that this limitation shall be the principal sum of the bond or the market value of the securities deposit required of the licensee under Section 75-15-11, and the sum of this limitation shall not be increased by any bond or securities deposit increase required by the commissioner under Section 75-15-29 or by deposit of any revocation order, suspension bond or securities deposit under Section 75-15-27.