No corporation shall acquire directly or indirectly, the whole or any part of the capital stock of any competing corporation doing business in this state, nor directly or indirectly acquire the franchise, plant or equipment of any other competing corporation doing business in this state if such other corporation be engaged in the same kind of business and be a competitor therein, where the effect of such acquisition of stock, franchise, plant or equipment may be to substantially lessen competition or to restrain trade or competition in the state, or any community thereof, or tend to create a monopoly of any line of commerce and will be inimical to public welfare. This section shall not apply to corporations purchasing such stock in payment of an indebtedness, and not using the same by voting, or otherwise, to bring about or attempting to bring about, the substantial lessening of competition. Provided, however, that fire and marine insurance corporations may own stock in other insurance companies and may be licensed to do business in this state, or authorized to continue business in this state, but the state insurance commissioner may refuse permission to any company to be licensed in the first instance or he may subsequently revoke the license of any company if it appears after notice and hearing that to permit one insurance corporation owning stock in a competing corporation to continue to do business in this state would be injurious to, or contrary to the public interest.
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 21 - Trusts and Combines in Restraint or Hindrance of Trade
§ 75-21-1. Trust and combine; defined
§ 75-21-3. Additional contracts or combinations not allowed by law
§ 75-21-5. Agricultural and other organizations not forbidden
§ 75-21-7. Penalty for violation of anti-trust laws
§ 75-21-9. Private persons and corporations may sue
§ 75-21-13. Corporations not to purchase competing one
§ 75-21-15. To defraud in public contracts
§ 75-21-17. Moneys not collectible
§ 75-21-19. Proceedings for forfeiture of charter and right to do business
§ 75-21-21. Proceedings may be brought in county where trust and combine formed
§ 75-21-23. Proceedings may be brought in county where violation of law occurred
§ 75-21-25. Witness not to be excused from testifying
§ 75-21-27. Witness not liable to indictment or prosecution
§ 75-21-29. Books, records to be produced in court
§ 75-21-31. Penalty for failure to comply
§ 75-21-33. Right to examine books, records and accounts of corporations
§ 75-21-35. Corporations answerable for unlawful act