§ 81-27-7.104. Removal of directors, officers and employees
Consistent with Section 81-27-7.102, the commissioner may require the immediate removal from office of any officer, director, or employee of any authorized trust institution, who is found to be dishonest, incompetent, or reckless in the management of the affairs of the authorized trust institution, or who persistently violates the laws of this state or the […]
§ 81-27-7.105. Review by the court
Administrative orders issued by the commissioner and civil money penalties imposed for violation of such orders shall be subject to review by the Chancery Court of the First Judicial District of Hinds County, Mississippi.
§ 81-27-7.001. Commissioner shall have supervision over authorized trust institutions and shall examine
For the purposes of this article, the term “authorized trust institution” means any state trust company, trust office or representative trust office. Every authorized trust institution shall be under the supervision of the commissioner. The commissioner shall execute and enforce through the department and such other agents as are now or may hereafter be created […]
§ 81-27-7.002. Fees for examination
The fees for examination of authorized trust institutions shall be assessed and collected by the commissioner.
§ 81-27-7.003. Department to act under authority of the commissioner
All the powers, duties and functions granted to or imposed upon the department under this chapter shall be exercised under the direction and supervision of the commissioner.
§ 81-27-7.101. Administrative orders; penalties for violation
In addition to any other powers conferred by this chapter, the commissioner shall have the power to: Order any authorized trust institution, or subsidiary thereof, or any director, officer, or employee to cease and desist violating any provision of this chapter or any lawful rule or regulation issued under this chapter. Order any authorized trust […]
§ 81-27-7.102. Notice and opportunity for hearing
Notice and opportunity for a hearing shall be provided before any of the foregoing actions may be undertaken by the commissioner. However, in cases involving extraordinary circumstances requiring immediate action, the commissioner may take such action, but shall promptly afford a subsequent hearing upon application to rescind the action taken.
§ 81-27-7.103. Subpoena power and examination under oath
The commissioner shall have the power to subpoena witnesses, compel their attendance, require the production of evidence, administer oaths, and examine any person under oath in connection with any subject related to a duty imposed or a power vested in the commissioner.