{"data":{"id":"us-ms/miss.-code-ann.-81-7-7","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 81-7-7","heading":"Establishment of branch banks de novo or by merger or consolidation.","body":"(1) For purposes of this section and Section 81-7-8, “branch bank de novo” or “branching de novo” refers to a branch established by the opening of a new branch bank and includes a branch bank or branch office acquired from another bank without acquiring substantially all of the assets of the other bank.\n(2) Subject to the restrictions contained in Section 81-7-8, a bank may establish:\n(a) Branch banks de novo within the applicable radius from the parent bank, as specified in subsection (5) of this section, subject to compliance with the procedures set forth in Section 81-7-1;\n(b) Branch banks by the merger or consolidation with, or the purchase of all or substantially all of the assets of, any other bank located in Mississippi; and\n(c) Branch banks de novo in accordance with subsection (3) of this section, subject to compliance with the procedures set forth in Section 81-7-1.\nCompliance with the procedures set forth in Section 81-7-1 is not required to establish branch banks under paragraph (b) of this subsection.\n(3) Subject to the restrictions contained in Section 81-7-8, after the establishment of a branch bank or branch banks outside of the applicable radius from the parent bank (of the surviving bank for branching purposes), as specified in subsection (5) of this section, as a result of a transaction pursuant to subsection (2)(b) of this section, a bank may establish branch banks de novo:\n(a) In any county where any such branch bank established under subsection (2)(b) is located; and\n(b) If any such branch bank established under subsection (2)(b) is located in a town or city situated in two (2) or more counties, in any of such counties; and\n(c) If any such branch bank established under subsection (2)(b) is located in an area designated as a Metropolitan Statistical Area by the United States Office of Management and Budget or any successor designation based upon substantially the same criteria, throughout such area so designated, or if such area is not entirely located in Mississippi then throughout the portion of such area located in Mississippi.\n(4) The bank resulting from a merger, consolidation or purchase may retain and operate as branch banks any of the parent offices, branch banks or branch offices of the banks participating in the transaction.\n(5) For the purposes of this section, the applicable radius from the parent bank shall be:\n(a) One hundred (100) miles, from July 1, 1986, through June 30, 1987;\n(b) One hundred fifty (150) miles, from July 1, 1987, through June 30, 1988;\n(c) Two hundred (200) miles, from July 1, 1988, through June 30, 1989;\n(d) The geographical boundaries of the State of Mississippi, from and after July 1, 1989.","path":["Title 81. Banks and Financial Institutions","Chapter 7. Branch Banks"],"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":"308d32273e725f1f12d534d11a506910b35ae98617f91a8c572809e5327d6640","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-81-7-3","next":"us-ms/miss.-code-ann.-81-7-8","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."}