Supplementary security requirement for corporate borrower.

Miss. Code Ann. § 57-10-117
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
If there is a corporate borrower, the committee shall require the personal guarantee or endorsement of any principal or entity owning at least twenty percent (20%) of the corporation that is borrowing money from any lender under the provisions of this article, and the committee may also require any other guarantees it deems appropriate.

Starting a business in Mississippi? Mississippi LLC guide: costs and requirements