GroundRules
Miss. Code Ann. § 81-27-4.203: Change in outstanding capital and surplus.
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 B. Amendment of Articles; Changes in Capital and Surplus.
(a) A state trust company may not reduce or increase its outstanding capital through dividend, redemption, issuance of shares or participation shares, or otherwise, without the prior approval of the commissioner, except as permitted by this section or rules adopted under this article.
(b) Unless otherwise restricted by rules or regulations, prior approval is not required for an increase in capital accomplished through:
(1) Issuance of shares of common stock or their equivalent in participation shares for cash;
(2) Declaration and payment of pro rata share dividends as defined in the Mississippi Business Corporation Act; or
(3) Adoption by the board of a resolution directing that all or part of undivided profits be transferred to capital.
(c) Prior approval is not required for a decrease in surplus caused by incurred losses in excess of undivided profits.
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