{"data":{"id":"us-ms/miss.-code-ann.-81-27-6.210","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 81-27-6.210","heading":"Bonding requirements.","body":"(a) The board of a state trust company shall require protection and indemnity for clients in reasonable amounts established by rules or regulations adopted under this article, against dishonesty, fraud, defalcation, forgery, theft, and other similar insurable losses, with corporate insurance or surety companies:\n(1) Authorized to do business in this state; or\n(2) Acceptable to the commissioner and otherwise lawfully permitted to issue the coverage against those losses in this state.\n(b) Except as otherwise provided by rule or regulation, coverage required under subsection (a) of this section must include each director, manager, managing participant, officer, and employee of the state trust company without regard to whether the person receives salary or other compensation.\n(c) A state trust company may apply to the commissioner for permission to eliminate the bonding requirement of this section for a particular individual. The commissioner shall approve the application if the commissioner finds that the bonding requirement is unnecessary or burdensome. Unless the application presents novel or unusual questions, the commissioner shall approve the application or set the application for hearing not later than the sixty-first day after the date the commissioner considers the application complete and accepted for filing.","path":["Title 81. Banks and Financial Institutions","Chapter 27. Multistate, State and Limited Liability Trust Institutions","Article 6. Additional Definitions; Ownership; Governance; Mergers.","Subarticle C. Board and Officers."],"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":"82b3a64253595cbebe2f40134588875bbe4089dd0cce13446c0da7318268cf20","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-81-27-6.209","next":"us-ms/miss.-code-ann.-81-27-6.211","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."}