Mississippi Code
Transfer of Ownership Interest in State Trust Company
§ 81-27-6.103. Hearing and decision on acquisition of control

Not later than the sixtieth day after the date the notice is published, the commissioner shall approve the application or set the application for hearing. If the commissioner sets a hearing, the commissioner shall conduct a hearing and one or more prehearing conferences and opportunities for discovery as the commissioner considers advisable and consistent with governing statutes and rules. A hearing held under this section is confidential and closed to the public.
Based on the record, the commissioner may issue an order denying an application if:
The anticompetitive effects of the proposed acquisition are clearly outweighed in the public interest by the probable effect of acquisition in meeting the convenience and needs of the community to be served; and
The proposed acquisition is not in violation of law of this state or the United States;
If an application filed under this section is approved by the commissioner, the transaction may be consummated. Any written commitment from the proposed transferee offered to and accepted by the commissioner as a condition that the application will be approved is enforceable against the state trust company and the transferee and is considered for all purposes an agreement under this chapter.

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