Section 81-5-13 - Federal Reserve Act requirements must be observed

Any bank or trust company, incorporated under the laws of Mississippi, which shall become a member of a Federal Reserve bank, shall comply with the reserve requirements of the Federal Reserve Act and its amendments, and the compliance of such bank or trust company therewith shall be in lieu of, and shall relieve such bank or trust company from, compliance with the provisions of the laws of this state relating to the maintenance of reserves.Codes, 1942, § 5284; Laws, 1934, ch. 146.