§ 81-9-3. Transfers by banks and other acts in contemplation of insolvency
All transfers of the notes, bonds, bills of exchange, or other evidences of debt owing to any bank, or of deposits to its credit; all assignments of mortgage, securities on real estate, or of judgments or decrees in its favor; all deposits of money, bullion, or other valuable thing for its use, or for the […]
§ 81-9-5. Closing insolvent banks
If at any time the state comptroller shall be of the opinion that a bank is insolvent, or that its condition is such that a further continuance of its business is hazardous to its creditors, depositors, or the public, or is unable to meet its obligations in the ordinary course of business, he shall close […]
§ 81-9-7. Examiner to be placed in charge
If the Commissioner of Banking and Consumer Finance shall close a bank as provided in this chapter and the assets thereof shall not be promptly sold as provided in Section 81-9-11, he shall immediately place in charge an examiner, whose salary and expenses, including auditing and clerical help, shall be paid out of the assets […]
§ 81-9-9. Conservation of assets; title
During the period in which such examiner shall be in charge he shall prepare and make a transcript of the books and affairs of the bank, and shall generally conserve the assets of the bank. During such period the legal title to the assets of the bank shall be in the state comptroller, which title […]
§ 81-9-11. Sale of assets of insolvent bank
After the state comptroller has taken charge of an insolvent bank as herein provided, he shall have power and authority, by and with the consent of the chancery court, or of the chancellor in vacation, to whose jurisdiction the affairs of the insolvent bank have been submitted, (and also of the Federal Deposit Insurance Corporation […]
§ 81-9-13. Reopening banks under “freezing of deposits” agreements
The comptroller of banks of the State of Mississippi is authorized to reopen any closed bank, with the approval of the chancery court of the county in which the bank is situated, or of the chancellor thereof in vacation, when at least three-fourths of the general depositors and creditors therein holding unsecured deposits, or any […]
§ 81-9-15. Limitation on custodial period; approval of acts involving discretion or judgment
The period in which the state comptroller shall remain the custodian of banks closed as provided in Section 81-9-5 shall not exceed ninety days, and during such period all acts of the state comptroller involving discretion or judgment shall be approved by order of the chancellor, entered in the cause provided for in Section 81-9-9 […]
§ 81-9-17. Receiver to be appointed
At the end of ninety days, if the state comptroller has not sold the assets of the bank as provided in Section 81-9-11 above, the state comptroller shall file a petition in the proper chancery court in a cause to be entitled “In the matter of the receivership of (name of bank).” Such petition shall […]