23 Miss. Code. R. 103-4.12

Current through December 10, 2024

Rule 23-103-4.12 - Stocks

A. General.

1. Shares of stocks represent ownership in a business corporation. The term "stock" includes:

a) Preferred stock,

b) Warrants and rights; and

c) Options to purchase stock:

B. Treatment.

1. To determine value:

a) Absent evidence to the contrary, assume each owner of a stock owns an equal share of stock; and

b) Can sell the stock at will, at current value.

1) Broker fees do not reduce the value that stocks have as a resource.

2. Ownership is determined using the stock certificate or most recent account statement (including dividend account) from the brokerage firm that issued or is holding the stock.

23 Miss. Code. R. 103-4.12

Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).