24 Miss. Code. R. 1-2.1.11

Current through December 10, 2024
Rule 24-1-2.1.11 - PROHIBITION AGAINST SHARING IN EARNINGS

No member, officer or employee of, or member of a committee of, or person connected with, the Board, or any other private individual, shall receive at any time any of the net earnings or pecuniary profit from the operations of the Department, provided that this shall not prevent the payment to any such person of such reasonable compensation for services rendered to or for the Department in effecting any of its purposes as shall be fixed by the law or the Board; and no such person or persons shall been titled to share in the distribution of any of the Department assets upon the dissolution of the Department. All members of the Board shall be deemed to have expressly consented and agreed that upon such dissolution or winding up of the affairs of the Department, whether voluntary or involuntary, and the assets of the Department, after all debts have been satisfied, then remaining in the hands of the Board shall be distributed, transferred, conveyed, delivered, and paid over, in such amounts as the law may determine or as may be determined by a Court of competent jurisdiction, exclusively to the State of Mississippi, or other entity authorized by statute.

24 Miss. Code. R. 1-2.1.11

Miss Code Ann. § 41-4-1, et seq.
Amended 7/10/2015
Amended 4/1/2017
Amended 8/6/2017
Amended 11/1/2018