MS Code § 81-27-5.101 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 27 - Multistate, State and Limited Liability Trust Institutions|Article 5 - Investments, Loans and Deposits|State Trust Company Investments|§ 81-27-5.101. Securities

 A state trust company may invest its corporate funds in any type or character of equity or investment securities subject to the limitations provided by this section.   Unless the commissioner approves maintenance of a lesser amount in writing, a state trust company must invest and maintain an amount equal to at least forty percent (40%) of the state trust company's capital under Section 81-27-4.106 in unencumbered cash, cash equivalents, and readily marketable securities.   Subject to subsection (d) of this section, the total investment in equity and investment securities of any one issuer, obligor, or maker, held by the state trust company for its own account, may not exceed an amount equal to fifteen percent (15%) of the state trust company's capital. The commissioner may authorize investments in excess of this limitation on written application if the commissioner concludes that:    The excess investment is not prohibited by other applicable law; and   The safety and soundness of the requesting state trust company is not adversely affected.   Securities that are offered and sold under 15 USCS Section 77d(5);   Mortgage related securities as defined in 15 USCS Section 78c(a), except that notwithstanding Section 347 of the Riegle Community Development and Regulatory Improvement Act of 1994, a note or obligation that is secured by a first lien on one or more parcels of real estate on which is located one or more commercial structures is subject to the limitations of subsection (c) of this section;   Investment securities issued or guaranteed by the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, the Government National Mortgage Association, the Federal Agricultural Mortgage Association, or the Federal Farm Credit Banks Funding Corporation;   Investment securities issued or guaranteed by the North American Development Bank; or   Securities issued by a Federal Home Loan Bank.    Notwithstanding subsection (c) of this section, a state trust company may purchase for its own account, without limitation and subject only to the exercise of prudent judgment:   Bonds and other legally created general obligations of a state, an agency or political subdivision of a state, the United States, or an agency or instrumentality of the United States;   An investment security that this state, an agency or political subdivision of this state, the United States, or an agency or instrumentality of the United States has unconditionally agreed to purchase, insure, or guarantee;   Notwithstanding 15 USCS Section 77r-1(c), subsection (c) of this section applies to investments in small business related securities as defined by 15 USCS Section 78c(a).   The commissioner may adopt rules to establish limits, requirements, or exemptions other than those specified by this section for particular classes or categories of investment, or limit or expand investment authority for state trust companies for particular classes or categories of securities or other property.