§ 81-27-8.112. List of claims presented and deposits; copies; proviso
Upon the expiration of the time fixed for presentation of claims, the commissioner, or the duly appointed agent, shall make a full and complete list of the claims presented, including and specifying any claims which have been rejected. One (1) copy shall be filed in the office of the chancery clerk in the pending action, […]
§ 81-27-8.003. Authority to liquidate; publication
If the commissioner shall approve the liquidation, the commissioner shall issue to the state trust company under the commissioner’s seal, a permit for such purpose. No such permit shall be issued by the commissioner until the commissioner shall be satisfied that provision has been made by the state trust company to satisfy and pay off […]
§ 81-27-8.004. Examination and reports
When any state trust company shall be in process of voluntary liquidation, it shall be subject to examination by the commissioner, and shall furnish such reports from time to time as may be called for by the commissioner.
§ 81-27-8.005. Unclaimed property
All unclaimed property remaining in the hands of a liquidated state trust company shall be subject to the provisions of Uniform Disposition of Unclaimed Property Act (Section 89-12-1 et seq.).
§ 81-27-8.006. Sell or transfer of property
Whenever the commissioner shall approve it, any state trust company may sell and transfer to any other trust institution, whether state or federally chartered, all of its assets of every kind upon such terms as may be agreed upon and approved by the commissioner and by two-thirds (2/3) vote of its board of directors or […]
§ 81-27-8.101. When commissioner may take charge
The commissioner may forthwith take possession of the business and property of any state trust company to which this chapter is applicable whenever it shall appear that such state trust company: Has violated its charter or any laws applicable thereto; Is conducting its business in an unauthorized or unsafe manner; Is in an unsafe or […]
§ 81-27-8.102. Directors may act
Any state trust company may place its assets and business under the control of the commissioner for liquidation by a resolution of a majority of its directors or members upon notice to the commissioner, and, upon taking possession of the state trust company, the commissioner, or duly appointed agent, shall retain possession thereof until such […]
§ 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.
§ 81-27-8.001. Required vote of shareholders or participants
A state trust company may go into voluntary liquidation and be closed, and may surrender its charter and franchise as a corporation of this state by the affirmative votes of its shareholders or participants owning two-thirds (2/3) of its stock or participation shares.