Mississippi Code Title 81. Banks and Financial Institutions § 81-14-75

A newly chartered savings bank shall commence business within one (1) year after the date upon which its corporate existence was begun. A savings bank which does not commence business within such time shall forfeit its corporate existence, unless the commissioner, upon written request from the savings bank, approves an extension of time before the expiration of such one-year period. If the corporate existence is forfeited, the certificate of incorporation shall expire and any action taken in connection with the incorporation and chartering of the savings bank, with the exception of fees paid to the department, shall become null and void. The commissioner shall determine if a savings bank has failed to commence business within one (1) year, without extension as provided in this section, and shall notify the Secretary of State and the registrar of deeds in the county in which the savings bank is located that the certificate of incorporation has expired.