§ 81-27-2.004. Trust office; representative trust office
A state trust institution may establish or acquire and maintain trust offices or representative trust offices anywhere in this state. A state trust institution desiring to establish or acquire and maintain such an office shall file a written notice with the commissioner setting forth the name of the state trust institution, the location of the […]
§ 81-25-171. Authority of commissioner to seize property
If the commissioner finds that any of the factors set forth in Section 81-25-167 are true with respect to any foreign bank which is licensed to establish and maintain a Mississippi state branch or Mississippi state agency and that it is necessary for the protection of the interests of the creditors of such foreign bank’s […]
§ 81-25-201. Intention
This article is intended generally to ensure that interstate state branches of out-of state foreign banks may be established and operated in the State of Mississippi (a) to the extent consistent with the provisions of Section 5 of the federal International Banking Act, and (b) under terms and conditions that are generally comparable to and […]
§ 81-25-203. Establishment of an interstate Mississippi state branch by an out-of-state foreign bank
Except as provided in subsection (2) of this section, an out-of-state foreign bank may establish an interstate Mississippi state branch in the same manner, including by merger or other transactions under Section 44 of the Federal Deposit Insurance Act, as, and subject generally to the same criteria, standards, conditions, requirements and procedures applicable to the […]
§ 81-27-1.001. Title and purposes
Articles 1 and 2 of this chapter may be cited as the Multistate Trust Institutions Act. It is the express intent of Articles 1 and 2 of this chapter to permit banks and other depository institutions, foreign banks and trust companies to engage in the trust business on a multistate and international basis to the […]
§ 81-27-1.002. Certain Definitions
In Articles 1 and 2 of this chapter: “Account” means the client relationship established with a trust company involving the transfer of funds or property to the trust company, including a relationship in which the trust company acts as trustee, executor, administrator, guardian, custodian, conservator, bailee, receiver, registrar, or agent, but excluding a relationship in […]
§ 81-27-1.003. Regulations
The commissioner may promulgate such rules and regulations as he or she determines to be necessary or appropriate in order to implement the provisions of this chapter.
§ 81-27-1.004. Severability
If any provision of this chapter or the application of such provision is found by any court of competent jurisdiction in the United States to be invalid as to any trust institution or other person or circumstance, or to be superseded by federal law, the remaining provisions of this chapter shall not be affected and […]
§ 81-27-1.101. Companies authorized to act as a fiduciary
No company shall act as a fiduciary in this state except: A state trust company; A state bank; A savings association organized under the laws of this state and authorized to act as a fiduciary pursuant to Section 81-12-1 et seq. or Section 81-14-1 et seq.; A national bank having its principal office in this […]
§ 81-25-167. Suspension or revocation of license
If, after notice and a hearing, the commissioner finds any of the following with respect to a foreign bank which is licensed to establish and maintain a Mississippi state branch or Mississippi state agency, he or she may issue an order suspending or revoking the license of such foreign bank: That the foreign bank has […]