SEC. 81-14-73. Status as IRS qualified thrift institution.

All state savings banks must qualify for and maintain eligibility for the bad debt reserve under Section 7701(a)(19) of the Internal Revenue Code of 1968 and any amendments thereto.

SOURCES: Laws, 1992, ch. 489, Sec. 16, eff from and after passage (approved May 8, 1992).

1997 Amendment

Reenacted: July 1, 1997. 

SOURCE: 1997 Laws, Chapter 364, Sec.16, HB389, Effective July 1, 1997.