5 Miss. Code. R. 3-4.5

Current through October 31, 2024
Rule 5-3-4.5 - Title Pledge Office

Section 75-67-435, Mississippi Code of 1972, Annotated defines a Title Pledge Office as "the location at which, or premises in which, a title pledge lender regularly conducts business. No other business other than title pledge business shall be conducted at a Title Pledge Office." Therefore, to meet the requirements of this provision of the law, a Title Pledge Office is one that is further defined as: a location that has a definitive U. S. Postal address and/or E911 address; meets local zoning requirements; has a minimum of 100 square feet, with walls from floor to ceiling separating the operation from any other business(es); has an outside entrance, however you may be located in an area that has a common lobby shared by another business(es); proper signage; and maintain separate books and records. All title pledge business must be conducted in this location.

Upon adoption of this regulation, a current licensee operating a configuration less than these requirements has until June 30, 2001, the end of the current licensing period, to conform or their license will not be renewed. Any new application for license, after adoption of this regulation, shall include documentation attesting to the compliance of these regulations.

5 Miss. Code. R. 3-4.5

Miss. Code Ann. § 75-67-405; Miss. Code Ann. § 75-67-407; Effective date December 15, 2003