SEC. 81-14-159. Prolonged audit, examination or revaluation; payments of costs.

(1) If, in the opinion of the commissioner an examination conducted under the provisions of Section 81-14-155 fails to disclose the complete financial condition of a savings bank, he may in order to ascertain its complete financial condition:

(a) Make an extended audit or examination of the savings bank, or cause such an audit or examination to be made by an independent auditor;

(b) Make an extended revaluation of any of the assets or liabilities of the savings bank, or cause an independent appraiser to make such revaluation.

(2) The commissioner shall collect from the savings bank a reasonable sum for actual or necessary expenses of such an audit, examination or revaluation.

SOURCES: Laws, 1992, ch. 489, Sec. 45, eff from and after passage (approved May 8, 1992).

1997 Amendment

 SECTION 45. Section 81-14-159, Mississippi Code of 1972, is reenacted as follows:

 81-14-159. (1) If, in the opinion of the commissioner an examination conducted under the provisions of Section 81-14-155 fails to disclose the complete financial condition of a savings bank, he may in order to ascertain its complete financial condition:

 (a) Make an extended audit or examination of the savings bank, or cause such an audit or examination to be made by an independent auditor;

 (b) Make an extended revaluation of any of the assets or liabilities of the savings bank, or cause an independent appraiser to make such revaluation.

 (2) The commissioner shall collect from the savings bank a reasonable sum for actual or necessary expenses of such an audit, examination or revaluation.

SOURCE: 1997 Laws, Chapter 364, Sec. 45, HB389, Effective July 1, 1997.