Except as expressly otherwise permitted, a person may not without the prior written approval of the commissioner directly or indirectly acquire control of a state trust company through a change in a legal or beneficial interest in voting securities of a state trust company or a corporation or other entity owning voting securities of a state trust company.
This subarticle does not prohibit a person from negotiating to acquire, but not acquiring, control of a state trust company or a person that controls a state trust company.
This section does not apply to:
Structure Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 27 - Multistate, State and Limited Liability Trust Institutions
Article 6 - Additional Definitions; Ownership; Governance; Mergers
Transfer of Ownership Interest in State Trust Company
§ 81-27-6.101. Acquisition of control
§ 81-27-6.102. Application regarding acquisition of control
§ 81-27-6.103. Hearing and decision on acquisition of control
§ 81-27-6.104. Appeal from adverse decision