{"data":{"id":"us-ms/miss.-code-ann.-81-27-5.102","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 81-27-5.102","heading":"Transactions in state trust company shares or participation shares.","body":"(a) A state trust company may acquire its own shares or participation shares if:\n(1) The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares or participation shares under regulatory accounting principles; or\n(2) The state trust company obtains the prior written approval of the commissioner.\n(b) A state trust company may acquire a lien upon its own shares or participation shares if:\n(1) The aggregate amount of indebtedness so secured is less than the amount of the state trust company’s undivided profits; or\n(2) The state trust company obtains the prior written approval of the commissioner.\n(c) Except with the prior written approval of the commissioner:\n(1) The state trust company may not hold its own shares or participation shares as treasury stock for more than two (2) years; and\n(2) A lien acquired under this section may not by its original terms extend for more than two (2) years.","path":["Title 81. Banks and Financial Institutions","Chapter 27. Multistate, State and Limited Liability Trust Institutions","Article 5. Investments, Loans and Deposits.","Subarticle B. State Trust Company Investments."],"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":"d35c3f13c5135d3150a46a17aa28e99cca761a04a363a854dfac0b3cdb7becd7","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-81-27-5.101","next":"us-ms/miss.-code-ann.-81-27-5.103","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."}