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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) No company shall act as a fiduciary in this state except:
(1) A state trust company;
(2) A state bank;
(3) 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.;
(4) A national bank having its principal office in this state and authorized by the Comptroller of the Currency to act as a fiduciary pursuant to 12 USCS 92a;
(5) A federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;
(6) An out-of-state bank with a branch in this state established or maintained pursuant to Section 81-23-1 et seq. or a trust office licensed by the commissioner pursuant to this chapter;
(7) An out-of-state trust company with a trust office licensed by the commissioner pursuant to this chapter; or
(8) A foreign bank with a trust office licensed by the commissioner pursuant to this chapter.
(b) No company shall engage in an unauthorized trust activity.
Cite this article: FindLaw.com - Mississippi Code Title 81. Banks and Financial Institutions § 81-27-1.101 - last updated January 01, 2025 | https://codes.findlaw.com/ms/title-81-banks-and-financial-institutions/ms-code-sect-81-27-1-101/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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