{"data":{"id":"us-ms/miss.-code-ann.-81-27-4.202","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 81-27-4.202","heading":"Establishing a series of shares or participation shares.","body":"(a) If the articles of association expressly give the board authority to establish series and determine the preferences, limitations, and relative rights of each series, the board may do so only on compliance with this section and any rules adopted under this article.\n(b) A series of shares or participation shares may be established in the manner provided by the provisions of the Mississippi Business Corporation Act as if the state trust company were a domestic corporation, but the shares or participation shares of the series may not be issued and sold except upon compliance with this section. The state trust company shall file the original and one (1) copy of the statement of action required by the Mississippi Business Corporation Act with the commissioner. Unless the submission presents novel or unusual questions, the commissioner shall approve or reject the series not later than the thirty-first day after the date the commissioner considers the submission informationally complete and accepted for filing. The commissioner may require the submission of additional information as considered necessary to an informed decision.\n(c) If the commissioner finds that the interests of the clients and creditors of the state trust company will not be adversely affected by the series, that the series otherwise conforms to law and any conditions imposed by the commissioner, and that any required filing fee has been paid, the commissioner shall:\n(1) Endorse the face of the original and copy of the statement with the date of approval and the word “Approved”;\n(2) File the original in the department’s records; and\n(3) Deliver a certified copy of the statement to the state trust company.","path":["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."],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.81.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:28Z","sha256":"ecd3f4091de0b1c305dd76f2f7a1c7cafaed0f032eb32fdbfe861a0d4c80cd44","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-81-27-4.201","next":"us-ms/miss.-code-ann.-81-27-4.203","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"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.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"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.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}