Vacancies among directors shall be filled by the chancellor on ex parte hearing in term time, or in vacation, but the choice of any four remaining directors shall be the choice of the chancellor, except for good cause shown. Removal of directors shall be in the discretion of the chancellor, in term time or in vacation, on petition of any party aggrieved, and upon such notice not less than five days as the chancellor may direct.
Structure Mississippi Code
Title 81 - Banks and Financial Institutions
§ 81-9-1. Capital stock impaired; how restored
§ 81-9-3. Transfers by banks and other acts in contemplation of insolvency
§ 81-9-5. Closing insolvent banks
§ 81-9-7. Examiner to be placed in charge
§ 81-9-9. Conservation of assets; title
§ 81-9-11. Sale of assets of insolvent bank
§ 81-9-13. Reopening banks under "freezing of deposits" agreements
§ 81-9-15. Limitation on custodial period; approval of acts involving discretion or judgment
§ 81-9-17. Receiver to be appointed
§ 81-9-19. Surrender of assets to receiver; reports
§ 81-9-25. Receivers empowered to borrow money
§ 81-9-27. Receivers may sell assets of insolvent banks
§ 81-9-29. Liquidation; separate assets for creditors; corporate stock
§ 81-9-33. Inventory and books by the receiver
§ 81-9-35. Dividends by receiver
§ 81-9-39. Compensation and expenses of receiver and attorney
§ 81-9-41. Liquidation of solvent bank
§ 81-9-43. Procedure to obtain depositors' liquidation
§ 81-9-45. Petition and decree thereon
§ 81-9-49. General powers of liquidating corporation
§ 81-9-51. Double liability of certain stockholders released
§ 81-9-53. Bond of directors; compensation
§ 81-9-55. Vacancies and removal of directors
§ 81-9-57. Officers of the corporation
§ 81-9-59. Compensation of liquidator and other employees
§ 81-9-61. Exercise of discretion without approval of court
§ 81-9-63. Sale of assets to going bank
§ 81-9-65. Corporation and directors may be restrained
§ 81-9-67. Liquidating corporations may apply to court for directions