A limited liability trust company shall file with the commissioner a copy of any participation agreement by which a participant of the limited liability trust company agrees to become a full liability participant and the name and address of each full liability participant. Solely that portion of the filed copy containing the designation of each full liability participant shall be a public record.
The commissioner may require a complete copy of the participation agreement to be filed with the department, regardless of whether the state trust company has a full liability participant, except that the provisions of the participation agreement other than those by which a participant of the limited liability trust company agrees to become a full liability participant are confidential and subject to release only as provided by Subarticle B of Article 2 of this chapter.
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
Special Provisions for Limited Liability Trust Companies
§ 81-27-6.301. Filing of notice of full liability
§ 81-27-6.302. Liability of participants and managers
§ 81-27-6.303. Contracting debts and obligations
§ 81-27-6.304. Management of limited liability trust company
§ 81-27-6.305. Withdrawal or reduction of participant's contribution to capital
§ 81-27-6.306. Interest in limited liability trust company; transferability of interest
§ 81-27-6.308. Allocation of profits and losses
§ 81-27-6.310. Other provisions related to a limited liability trust company