102. Transactions in state trust company shares or participation shares.

Miss. Code Ann. § 81-27-5.102
in effect
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A state trust company may acquire its own shares or participation shares if: The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares or participation shares under regulatory accounting principles; or The state trust company obtains the prior written approval of the commissioner. A state trust company may acquire a lien upon its own shares or participation shares if: The aggregate amount of indebtedness so secured is less than the amount of the state trust company’s undivided profits; or The state trust company obtains the prior written approval of the commissioner. Except with the prior written approval of the commissioner: The state trust company may not hold its own shares or participation shares as treasury stock for more than two (2) years; and A lien acquired under this section may not by its original terms extend for more than two (2) years.
Source: Public.Resource.Org MS CodeURL: https://unicourt.github.io/cic-code-ms/transforms/ms/ocms/r78/gov.ms.code.title.81.htmlFetched: 6/10/2026

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