23 Miss. Code R. § 103-4.12

Current through June 25, 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).