SEC. 75-67-105. License required.

(1) No person shall engage in the business of lending money except as authorized by this article, and without being the holder of a valid and subsisting license to engage in such business as provided by the Small Loan Privilege Tax Law [Sections 75-67-201 through 75-67-243].

(2) Every person engaged in the business of lending money as authorized by this article shall have a physical office located in the State of Mississippi. A separate license is required for each office doing business in the State of Mississippi.

SOURCES: Codes, 1942, Sec. 5591-03; Laws, 1958, ch. 179, Sec. 3, eff from and after July 1, 1958. Laws, 1996, ch. 423, Sec. 2, eff from and after July 1, 1996

1997 Amendment

Section 75-67-105, Mississippi Code of 1972, is amended as follows:

 75-67-105. (1) No person shall engage in the business of lending money except as authorized by this article, and without being the holder of a valid and subsisting license to engage in such business as provided by the Small Loan Privilege Tax Law [Sections 75-67-201 through 75-67-243].

 (2) Every person engaged in the business of lending money as authorized by this article shall have a physical office located in the State of Mississippi. A separate license is required for each office doing business in the State of Mississippi. Each electronic loan processing machine owned or operated by a licensed office is required to possess a separate license and have a permanent address with loan records to be maintained in a designated licensed office in the state.

SOURCE: 1997 Laws, Chapter 332, Sec. 4, HB916, Effective Marach 17, 1997.