GroundRules
Miss. Code Ann. § 81-27-4.101: Organization and powers of state trust company.
Where this section sits in the code
- Title 81. Banks and Financial Institutions
- Chapter 27. Multistate, State and Limited Liability Trust Institutions
- Article 4. State Trust Company.
- Subarticle A. Organization; General.
(a) Subject to the other provisions of this article, one or more persons may organize and charter a state trust company. A state trust company may perform any act as a fiduciary or engage in any trust business within or without this state.
(b) Subject to Section 81-27-4.107, a state trust company may exercise the powers of a business corporation reasonably necessary or helpful to enable exercise of its specific powers under this chapter.
(c) A state trust company may contribute to community funds, or to charitable, philanthropic, or benevolent instrumentalities conducive to public welfare, amounts that its board considers appropriate and in the interests of the state trust company.
(d) Subject to Section 81-27-5.301, a state trust company may deposit trust funds with itself or an affiliate.
(e) Subject to obtaining any required insurance from the Federal Deposit Insurance Corporation, a state trust company may receive and pay deposits with or without interest, made by agencies of the United States Government or of a state, county, or municipality.
Collected 2026-10-27T05:54:28Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source