Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 4 - Countable Resources
Rule 23-103-4.12 - Stocks
Universal Citation: MS Code of Rules 23-103-4.12
Current through September 24, 2024
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.
Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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