reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.108 - Bond of the commissioner; surety; condition; minimum penalty

Upon taking possession of any state trust company, the commissioner, or a duly appointed agent shall execute and file a bond payable to this state, with some surety company as surety thereon, with the chancery clerk of the county where the state trust company is located, conditioned upon the faithful performance of all duties imposed by reason of the liquidation of such state trust company by the commissioner, or duly appointed agent assisting in the liquidation of a state trust company, the penal sum of the bond to be fixed by order of the commissioner, which in no case shall be less than Fifty Thousand Dollars ($50,000.00). Any person interested, by motion in the pending action, shall be heard by the presiding chancellor of the district as to the sufficiency of the bond; the chancellor hearing the motion may thereupon fix the bond.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.109 - Inventory

Within thirty (30) days after the filing of the notice of the taking possession of a state trust company in the office of the chancery clerk, the commissioner, or a duly appointed agent, shall file an inventory of the assets and liabilities of such state trust company. A copy of the inventory shall be filed with the chancery clerk in the pending action and a copy shall be kept on file in the state trust company. The inventory shall be open for inspection during the usual business hours, provided that nothing herein shall require the state trust company to remain open unnecessarily.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.110 - Notice and time for filing claims

Notice shall be given by advertisement once a week for four (4) consecutive weeks in a newspaper published in the county where the state trust company is located, or if no newspaper is published in the county, then in some newspaper having a general circulation in the county, calling on all persons who may have claims against the state trust company to present the same to the commissioner at the office of the state trust company, and within the time to be specified in the notice which time shall not be less than ninety (90) days from the date of the first publication. A copy of this notice shall be mailed to all persons whose names appear as creditors upon the books of the state trust company. Affidavit by the commissioner, or agent mailing the notice, to the effect that the notice was mailed shall be conclusive evidence thereof.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.111 - Power to reject claims; notice; affidavit of service; action on claims

If the commissioner, or a duly appointed agent, doubts the validity of any claim, the commissioner or agent may reject the same and serve notice of such rejection upon the claimant, either personally or by registered mail, and an affidavit of the service of such notice shall be filed in the office of the chancery clerk in the pending action, and shall be conclusive evidence of such notice. Any action or suit upon rejected claim must be brought by the claimant against the commissioner or agent, in the chancery court of the county in which the state trust company is located within ninety (90) days after such service, or the same shall be barred. Objections to any claim not rejected by the commissioner, or the duly appointed agent, may be made by any person interested by filing such objection in the pending action and by serving a copy thereof on the commissioner, or duly appointed agent, and the commissioner, or duly appointed agent, after investigation, shall either allow such objection and reject the claim, or disallow the objection. If the objection is not allowed and the claim not rejected, the commissioner, or the duly appointed agent, shall file a notice to this effect in the pending action; and within ten (10) days thereafter, the person filing objection by motion in the pending action, a copy of which notice shall be served upon the person whose claim or deposit is objected to, and present to the court the question of the validity of the claim; and the questions of law and issues of fact shall thereupon be determined as in other civil actions.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.112 - List of claims presented and deposits; copies; proviso

Upon the expiration of the time fixed for presentation of claims, the commissioner, or the duly appointed agent, shall make a full and complete list of the claims presented, including and specifying any claims which have been rejected. One (1) copy shall be filed in the office of the chancery clerk in the pending action, and one (1) copy shall be kept on file with the inventory in the office of the state trust company for examination. Any claim which may be presented after the expiration of the time fixed for the presentation of claims in the notice hereinbefore provided shall, if allowed, share pro rata in the distribution only of those assets of the state trust company in the hands of the commissioner, and undistributed at the time the claim is presented. However, when it is made to appear to the presiding chancellor in the district, that the claim could not have been filed within that period, the chancellor may permit those creditors or depositors who subsequently file their claim to share as other creditors.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.113 - Declaration of dividends; order of preference in distribution

At any time after the expiration of the date fixed by the commissioner, or the duly appointed agent, for the presentation of claims against the state trust company, and from time-to-time thereafter, the commissioner, out of the funds in the hands of the commissioner, after the payment of expenses and priorities, may declare and pay dividends to the shareholders or participants and other creditors of such state trust company in the order now or hereafter provided by law; and a dividend may be declared when and as often as the funds on hand subject to the payment of dividends shall be sufficient to pay ten percent (10%) of all claims entitled to share in such dividends. In paying dividends and calculating the same, all disputed claims shall be taken into account, but no dividend shall be paid upon such disputed claims until the same shall have been finally determined. The following shall be the order and preference in the distribution of the assets of any state trust company liquidated hereunder:
(1)
Taxes and fees due the commissioner for examination or other services;
(2)
Wages and salaries due officers and employees of the state trust company, for a period of not more than four (4) months;
(3)
Expenses of liquidation;
(4)
Amounts due creditors other than stockholders or participants.
The word "asset" used herein shall not be deemed to include bailments or other property to which the state trust company has no title. A statement of all dividends paid shall be filed in the office of the chancery clerk in the pending action, and such statements shall show the expenses deducted and the disputed claims in determining the dividend.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.114 - Deposit of funds collected

All funds collected by the commissioner, in liquidating any state trust company, shall be deposited from time-to-time in a bank as may be selected by the commissioner, and shall be subject to the check of the commissioner.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.115 - Employment of counsel; accountants; and other experts; compensation

The commissioner, for the purpose of liquidating state trust companies as herein provided, shall employ such liquidating agents, competent local attorneys, accountants and clerks as may be necessary to properly liquidate and distribute the assets of a state trust company, and shall fix the compensation for all such agents, attorneys, accountants and clerks, and shall pay the same out of the funds derived from the liquidation of the assets of the state trust company. However, all expenditure for the purpose herein provided shall be approved by the presiding chancellor in the pending action at such time as the same may be reported, and such charges shall be a proper charge and lien on the assets of the state trust company until paid.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.116 - Unclaimed dividends held in trust

Any unclaimed dividends remaining in the hands of the commissioner for six (6) months after the order for final distributions shall be held in trust for the several creditors of the liquidated state trust company; and the money so held by the commissioner shall be paid over to the persons respectively entitled thereto as and when satisfactory evidence of their right to the same is furnished. In case of doubtful or conflicting claims the commissioner shall have authority to apply to the chancery court, by motion in the pending action, for an order from the chancellor of the district directing the payment of the moneys so claimed. When issues of fact are raised by motion, the same may, upon request of any claimant, be determined as in other civil actions. The interest earned on the unclaimed dividend so held shall be applied toward defraying the expenses incurred in the distribution of such unclaimed dividends. The balance of interest, if any, shall be deposited and held as other funds to the credit of the commissioner. After the commissioner has held the unclaimed dividends held in trust under the provisions of this statute for the creditors of the liquidated state trust company for a period of ten (10) years, the commissioner may pay the principal amount of such unclaimed dividends to the State Treasurer, to be held by the State Treasurer without liability for profit or interest until a just claim therefor shall be made by the parties entitled thereto. Upon payment of unclaimed dividends to the State Treasurer, the commissioner shall be fully discharged from all further liability therefor.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.118 - Annual report of the commissioner; items included

The commissioner shall file, as a part of an annual report to the Governor, a list of the names of the state trust companies of which possession was taken and liquidated; and the commissioner shall, from time-to-time compile and make available for public inspection, reports showing the condition of each and all such state trust companies; and the annual report of the commissioner shall show the sum of unclaimed assets, with respect to each state trust company, and shall show all depositories of all sums coming into the hands of the commissioner under the provisions of this section.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.119 - Compensation of the commissioner

The commissioner, for services rendered in connection with the liquidation of state trust companies hereunder, shall be entitled to actual expenses incurred in connection with the liquidation of each state trust company, including therein a reasonable sum for the time of the examiners and other agents of the commissioner, which expenses shall be a prior lien on the assets of such state trust company so liquidated until paid in full; and the commissioner shall have authority to prescribe reasonable rules and regulations for fixing such expenses.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.120 - Exclusive method of liquidation

No state trust company created before July 1, 1998, shall be liquidated in any other way or manner than that provided in this chapter.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.121 - Disposition of books and records

All books, papers and records of a state trust company which has been finally liquidated shall be deposited by the receiver in the office of the chancery clerk for the county in which the office of such state trust company is located, or in such other place as in the receiver's judgment will provide for the proper safekeeping and protection of such books, papers, and records. The books, papers, and records herein referred to shall be held subject to the orders of the commissioner and the chancery clerk of the county in which such state trust company was located.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.122 - Destruction of books and records

After the expiration of five (5) years from the date of filing in the office of the chancery clerk of a final order approving the liquidation by the commissioner of any insolvent state trust company and the delivery to the clerk or into the clerk's custody of the records of such state trust company, the same may be destroyed by the chancery clerk.
After five (5) years from the filing by the commissioner of a final report of liquidation of any insolvent state trust company, the commissioner may destroy the records of any insolvent state trust company held in the office of the commissioner in connection with the liquidation of such state trust company. However, in connection with any unpaid dividends the commissioner shall preserve the records or other evidence of indebtedness of the trust company with reference to the unpaid dividend until the dividend shall have been paid.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.123 - Trust terminated on insolvency of state trust company

Whenever any state trust company created under the laws of this state, which has heretofore been, or shall hereafter be, appointed trustee in any indenture, deed of trust or other instrument of like character, executed to secure the payment of any bonds, notes or other evidences of indebtedness, has been or shall be by reason of insolvency, or for any other cause provided by law, taken over for liquidation by the commissioner or by any other legally reconstituted authority, the powers and duties of such state trust company as trustee in any such instrument shall, upon the entry of an order of the chancery clerk of the court appointing a successor trustee, upon a petition as hereinafter provided, immediately cease and terminate.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.124 - Petition for new trustee

In all cases of insolvency and liquidation provided in this article, the chancery clerk of any county in which such indenture, deed of trust or other instrument of like character is recorded, shall, upon the verified petition of any person interested in any such trust, either as trustee, beneficiary or otherwise, which interest shall be set out in the petition, enter an order directing service on all interested parties either personally or by the publication in some newspaper published in the county, or in some adjoining county if no newspaper is published in the county where such application is made, a notice directed to all persons concerned, commanding and requiring all persons having any interest in the trust, appear in the clerk's office at a day designated in the order and notice, not less than thirty (30) days from the date thereof, and show cause why a new trustee shall not be appointed.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.125 - Publication and notice

Such notice shall be published in the manner required by law for service of summons by publication, and shall set forth the names of the parties to the indenture deed of trust, or other such instrument, the date thereof, and the place or places where the same is recorded.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.126 - Appointment where no objection made

If, upon the day fixed in the notice, no person appears and objects to the appointment of a substitute trustee, the clerk shall, upon such terms the clerk deems advisable and in the best interest of all parties, appoint some competent person, or corporation authorized to act as, substitute trustee. The substitute trustee shall be vested with and shall exercise all the powers reconferred upon the trustee named in this instrument.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.127 - Hearing upon objection

If objections are made to the appointment of a new trustee, the clerk shall hear and determine the matter, and from the clerk's decision an appeal may be prosecuted as in the case of special proceedings generally.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.128 - Registration of final order

The final order of appointment of a new trustee shall be certified by the clerk in an order which shall be recorded in the office of the register of deeds in the county or counties in which the instrument under which the appointment has been made was recorded, and a notation of the same shall be entered by the register of deeds on the margin of the record where the original instrument was recorded.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.129 - Petition and order applicable to all instruments

The petition and the order appointing a new trustee may include, relate and apply to any number of indentures, deeds of trust or other instruments, wherein the same trustee is named.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.130 - Additional remedy

Sections
81-27-8.124
and
81-27-8.129
shall be in addition to and not in substitution for any other remedy provided by law.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 27 - MULTISTATE, STATE AND LIMITED LIABILITY TRUST INSTITUTIONS (§§ 81-27-1.001 — 81-27-8.131) › Article 8 - DISSOLUTION AND RECEIVERSHIP; CONSERVATORSHIP (§§ 81-27-8.001 — 81-27-8.131) › Subarticle B - INVOLUNTARY DISSOLUTION AND LIQUIDATION (§§ 81-27-8.101 — 81-27-8.131) › Section 81-27-8.131 - Report to the Secretary of State

The commissioner shall on or before the first day of each year thereafter file with the Secretary of State a report showing all state trust companies under liquidation in this state, and the names of any and all auditors together with the amounts paid to them for auditing each of the state trust companies, and the names of any and all attorneys employed in connection with the liquidation of the state trust companies together with the amount paid or contracted to be paid to each of the attorneys. If any attorney has been employed on a fee contingent upon recovery, the report must state in substance the contract.
Within five (5) days from the receipt of the report the Secretary of State shall cause the same to be published one (1) time in some newspaper published in each county in which a state trust company or state trust companies are under liquidation. If there is no newspaper published in the county, the Secretary of State shall cause a copy of the report to be posted at the courthouse door in the county.
Laws, 1998, ch. 437, § 1, eff. 7/1/1998.
Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 29 - LENDER TRADE NAME AND TRADEMARK USE (§§ 81-29-1 — 81-29-3) › Section 81-29-1 - Definitions

For purposes of this chapter, the following terms shall have the following meanings:
(a)
"Lender" means a bank, savings bank, savings and loan association, credit union, small loan company, finance company, mortgage company, mortgage broker or other person who makes or services loans in this state, and any affiliate thereof, or any third party operating with the consent of the lender. A person shall not be considered a lender based on the person's former employment with the lender.
(b)
"Person" means any individual, firm, corporation, partnership, organization, association or other legal entity.
Laws, 2008, ch. 370, § 1, eff. 7/1/2008.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-1 - Department of insurance created

There is hereby continued a separate and distinct department of insurance, which shall be charged with the execution of all laws (except as otherwise specifically provided by statute) now in force, or which may hereafter be enacted, relative to all insurance and all insurance companies, corporations, associations, or orders.
Codes, 1871, § 2442; 1880, § 1073; 1892, § 2322; 1906, § 2550; Hemingway's 1917, § 5014; 1930, § 5114; 1942, § 5616; reenacted without change, Laws, 1982, ch. 366, § 1; reenacted without change, Laws, 1990, ch. 559, § 1; reenacted without change, Laws, 1996, ch. 313, § 1, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-3 - Commissioner of Insurance

The chief officer of the department shall be denominated the Commissioner of Insurance, who shall be elected at the general election as other state officers, and who shall possess the same qualifications as required for the Secretary of State. His term of office shall be four (4) years, as that of other state officials. No person shall be Commissioner of Insurance who is in any way connected with the management or control of any company, corporation, association, or order affected by this title, and his term of office shall immediately cease if at any time he shall become so interested. Before entering on the discharge of his duties, the commissioner shall take the oath of office required of state officers and give a corporate bond in favor of the state in the penal sum of Twenty-five Thousand Dollars ($25,000.00) in some company or companies duly authorized to transact business in this state, to be approved by the Governor and conditioned for the faithful performance of the duties of said office during his term, which bond and oath of office shall be filed with the Secretary of State.
Codes, 1906, § 2551; Hemingway's 1917, § 5015; 1930, § 5115; 1942, § 5617; reenacted without change, Laws, 1982, ch. 375, § 1; reenacted, Laws, 1990, ch. 559, § 2; reenacted without change, Laws, 1996, ch. 313, § 2, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-4 - Rules and regulations relative to certain general liability insurance policies

The Commissioner of Insurance is hereby authorized and directed to promulgate rules and regulations necessary to establish a plan for the availability of commercial liability insurance contracts of owners', landowners' and tenants' liability policies and manufacturers' and contractors' liability policies, covering bodily injury and property damage.
The commissioner shall report on such plan to the 1987 Regular Session of the Legislature.
Laws, 1986, ch. 414, eff. 3/28/1986.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-5 - Compensation and employees

The commissioner shall receive a compensation to be fixed by law. He is hereby authorized to employ a clerk and stenographer and an actuary at a salary to be fixed by law; and in addition shall be allowed a sufficient sum for traveling expenses and for extra clerical help. To assist the commissioner in efficiently performing the official duties imposed upon him by law, he may employ suitable and competent persons who possess the professional skill and/or expert knowledge needed to fulfill these duties. The State Personnel Board, based upon its findings of fact, shall exempt these persons from the provisions of Section
25-3-39
when the acquisition of such professional services is precluded based on the prevailing wage in the relevant labor market, provided such compensation shall not, directly or indirectly, be in excess of the salary authorized to be paid to the deputy commissioner.
Codes, 1906, § 2553; Hemingway's 1917, § 5017; 1930, § 5116; 1942, § 5618; Laws, 1926, ch. 345; reenacted without change, Laws, 1982, ch. 375, § 2; reenacted without change, Laws, 1990, ch. 559, § 3; reenacted without change, Laws, 1996, ch. 313, § 3; Laws, 2012, ch. 546, § 42, eff. 7/1/2012.
Amended by Laws, 2014, ch. 396, HB 532, 1, eff. 3/17/2014.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-6 - [Repealed]

Repealed by Laws of 1990, ch 559, § 4, eff. 7/1/1990.
Laws, 1982, ch. 375, § 3.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-7 - Deputy

The commissioner shall have authority to appoint, with the consent of the Governor, a deputy commissioner, who shall have power, during his absence or inability to act from any cause, to perform any and all of the duties of the commissioner. Said deputy shall be commissioned by the Governor and shall be subject to the same requirements, restrictions, and qualifications as the commissioner, excepting that the bond of the deputy shall be in the penal sum of Ten Thousand Dollars ($10,000.00), conditioned and approved in the same manner as the bond of the commissioner.
Codes, 1906, § 2552; Hemingway's 1917, § 5016; 1930, § 5117; 1942, § 5619; reenacted without change, Laws, 1982, ch. 366, § 2; reenacted, Laws, 1990, ch. 559, § 5; reenacted without change, Laws, 1996, ch. 313, § 4, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-9 - Offices

Suitable offices in the Statehouse for conducting the business of said department shall be provided by the Governor, and the superintendent or keeper of the Statehouse shall, from time to time, furnish the necessary furniture, seal and stationery, fuel, lights, and other requirements, and properly care for said offices. The expense thereof shall be defrayed in the same manner as like expenses of other departments of the state government.
Codes, 1906, § 2557; Hemingway's 1917, § 5021; 1930, § 5118; 1942, § 5620; reenacted without change, Laws, 1982, ch. 366, § 3; reenacted, Laws, 1990, ch. 559, § 6; reenacted without change, Laws, 1996, ch. 313, § 5, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-11 - Seal

The Department of Insurance shall have a seal, around the margin of which shall appear the words "Commissioner of Insurance, Mississippi," with the image of an eagle in the center and thirteen (13) stars over the head of the eagle. Each certificate and other official paper executed by the commissioner under authority of law and sealed with the seal of the department shall be received as evidence in all courts, investigations, and proceedings authorized by law, and may be recorded in the same manner and with like effect as a deed. All copies of papers certified by him and authenticated by said seal shall be accepted in all matters equally and in like manner as the original.
Codes, 1906, § 2555; Hemingway's 1917, § 5019; 1930, § 5119; 1942, § 5621; reenacted without change, Laws, 1982, ch. 366, § 4; reenacted, Laws, 1990, ch. 559, § 7; reenacted without change, Laws, 1996, ch. 313, § 6, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-13 - Monthly report; payment of taxes to state treasurer

The commissioner shall furnish to the Auditor on or before the tenth day of each month a statement, in detail, of the taxes and licenses received by him under this title during the previous month, and shall pay to the Treasurer the amount in full of such taxes and licenses. The State Tax Commission shall make payment to the State Treasurer of taxes collected by it under this title in the manner provided by Section
7-9-21
.
Codes, 1906, § 2628; Hemingway's 1917, § 5094; 1930, § 5120; 1942, § 5622; Laws, 1982, ch. 351, § 9; reenacted without change, Laws, 1982, ch. 366, § 5; Laws, 1984, ch. 462, § 3; reenacted, Laws, 1990, ch. 559, § 8; reenacted without change, Laws, 1996, ch. 313, § 7, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-15 - Annual report to governor

The commissioner shall, on or before the first day of May, annually, make a report to the governor, which shall show all of his official acts; the condition of all insurance companies within the meaning of this title, doing business in this state, accompanied by a condensation of their reports to him arranged in proper form for printing; the licenses issued by him, and the taxes received from all sources and paid by him to the treasurer; and such changes in the laws affecting his department, as in his judgment should be made. The governor shall transmit this report to the legislature. The commissioner shall see that all laws relating to matters under his supervision are faithfully executed. He shall supply each insurance company doing business in this state with all necessary printed forms.
Codes, 1857, ch. 35, art. 59; 1871, § 2444; 1880, § 1075; 1892, § 2325; 1906, § 2558; Hemingway's 1917, § 5022; 1930, § 5121; 1942, § 5623; reenacted without change, Laws, 1982, ch. 366, § 6; reenacted without change, Laws, 1990, ch. 559, § 9; reenacted without change, Laws, 1996, ch. 313, § 8, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-17 - Laws enforced by suit

Compliance with the provisions of this title as to deposits, obligations, prohibitions, and the payment of taxes, fees, and penalties by and upon foreign insurance companies or other insurers may be enforced by the commissioner by suit in the name of the state.
Codes, 1906, § 2650; Hemingway's 1917, § 5116; 1930, § 5122; 1942, § 5624; reenacted without change, Laws, 1982, ch. 366, § 7; reenacted without change, Laws, 1990, ch. 559, § 10; reenacted without change, Laws, 1996, ch. 313, § 9, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-19 - Group insurance for state employees

The state insurance commissioner is hereby authorized, empowered and directed, in his discretion, to promulgate such regulations as may properly apply to the writing of group insurance on state officials and employees. Such insurance shall be optional with any one or all of said state officials or employees.
Codes, 1930, § 5123; 1942, § 5625; Laws, 1930, ch. 53; reenacted without change, Laws, 1982, ch. 366, § 8; reenacted without change, Laws, 1990, ch. 559, § 11; reenacted without change, Laws, 1996, ch. 313, § 10, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-21 - Reports on file as public record

The commissioner shall keep in his office for public inspection all reports received by him, a record of all his proceedings, including a concise statement of the result of official examinations, an exhibit of the financial condition and methods of all insurers under his supervision, as disclosed by their statements or by official examination, and such other information with regard to them as he may deem it proper to preserve.
Such reports or records which are no longer useful or necessary may be disposed of in accordance with approved records control schedules. No records, however, may be destroyed without the approval of the Director of the Department of Archives and History.
Codes, 1906, § 2560; Hemingway's 1917, § 5025; 1930, § 5124; 1942, § 5626; Laws, 1946, ch. 361, § 1; Laws, 1981, ch. 501, § 26; reenacted, Laws, 1982, ch. 366, § 9; reenacted, Laws, 1990, ch. 559, § 12; reenacted without change, Laws, 1996, ch. 313, § 11, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-23 - Examination before granting authority

Before granting a certificate of authority to any insurance company organized under the laws of another state or government, the commissioner shall be satisfied that it is qualified to transact business under the laws of the state in which it has its principal office, and also as to its financial ability and condition.
Codes, 1880, § 1085; 1892, § 2327; 1906, § 2564; Hemingway's 1917, § 5029; 1930, § 5125; 1942, § 5627; reenacted without change, Laws, 1982, ch. 366, § 10; reenacted without change, Laws, 1990, ch. 559, § 13; reenacted without change, Laws, 1996, ch. 313, § 12, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-25 - [Repealed]

Repealed by Laws of 1997, ch. 410, § 23, eff. 7/1/1997.
Codes, 1906, § 2565; Hemingway's 1917, § 5030; 1930, § 5126; 1942, § 5628; Laws, 1944, ch. 322; Laws, 1946, ch. 355, § 1; Laws, 1958, ch. 432; Laws, 1966, ch. 520, § 1; Laws, 1972, ch. 325, § 1; Laws, 1982, ch. 351, § 11; reenacted, Laws, 1982, ch. 366, § 11; Laws, 1984, ch. 462, § 4; reenacted, Laws, 1990, ch. 559, § 14; repealed, Laws, 1992, ch. 319, § 10; reenacted, Laws, 1996, ch. 313, § 13 .
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-29 - Suspension or revocation of certificate of authority

Whenever it shall appear to the commissioner, upon examination or other evidence, that a foreign insurance company is in an unsound condition, or upon notification by the State Tax Commission that the company is delinquent in the payment of taxes due the state, or that it has failed to comply with the law, or that it, its officers, or agents, refused to submit to examination or to perform any legal obligation in relation thereto, he shall revoke or suspend all certificates of authority granted to it or its agents, and shall cause notification thereof to be published in one or more newspapers published in this state. No new business shall thereafter be done by it or its agents in this state while such default or disability continues, nor until its authority to do business is restored by the commissioner. If, upon examination, he is of the opinion that any domestic insurance company is insolvent, or has exceeded its powers, or has failed to comply with any provision of law applicable to it, or that its condition is such as to render its further proceeding hazardous to the public or its policyholders, or upon notification by the State Tax Commission that the company is delinquent in the payment of taxes due the state, he shall suspend its license. If he deems it necessary, he shall apply to a judge of the chancery court to issue an injunction restraining it, in part or in whole from further proceeding with its business. Such judge may, in his discretion, issue the injunction forthwith or upon notice and hearing thereon and, after a full hearing of the matter, may dissolve or modify such injunction or make it permanent, may make all orders and decrees needful in the premises, and may appoint agents or receivers to take possession of the property or effects of the company and to settle its affairs, subject to such rules and orders as the court may, from time to time, prescribe according to the course of proceedings in equity.
Codes, 1906, § 2567; Hemingway's 1917, § 5032; 1930, § 5128; 1942, § 5630; Laws, 1982, ch. 351, § 10; reenacted without change, Laws, 1982, ch. 366, § 13; Laws, 1984, ch. 462, § 6; reenacted, Laws, 1990, ch. 559, § 16; reenacted without change, Laws, 1996, ch. 313, § 15, eff. 6/30/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 1 - DEPARTMENT OF INSURANCE (§§ 83-1-1 — 83-1-201) › GENERAL PROVISIONS (§§ 83-1-1 — 83-1-51) › Section 83-1-31 - Audit of books to determine tax liability

When, in the judgment of the Insurance Commissioner, or upon request by the State Tax Commission, an audit, examination, or inspection of the books, records, invoices, papers, memoranda, or other data appears to be required or necessary to determine the assessment of a tax, or to establish a tax liability, or to verify a payment of a tax, under the tax laws of this state, of a taxpayer doing business both within and without the state and maintaining his principal place of business outside the state, such audit, or examination, or inspection may be made at the principal place of business outside the state to the same extent and same effect as audits, examinations, or inspections are made of books, records, invoices, papers, memoranda, or other data located in this state.
The Insurance Commissioner, who is directly charged with the duty of auditing the records necessary for use by the State Tax Commission in assessing and collecting taxes under laws which require a taxpayer to keep adequate books, records, papers, invoices, memoranda, or other data at a place in this state, reflecting his liability for any tax due the state, and which taxpayer conducts his business both within and without Mississippi and maintains his principal place of business outside this state, at which his books, records, etc., are located, may elect to audit, examine, or inspect all books, records, papers, invoices, memoranda, or other data reflecting upon the Mississippi tax assessment and tax liability at the principal place of business of the taxpayer, rather than require the taxpayer to transport all of his books, records, papers, invoices, memoranda, and other data to some place in this state.
Codes, 1942, § 9218; Laws, 1942, ch. 126; Laws, 1982, ch. 351, § 13; reenacted without change, Laws, 1982, ch. 366, § 14; Laws, 1984, ch. 462, § 7; reenacted, Laws, 1990, ch. 559, § 17; reenacted without change, Laws, 1996, ch. 313, § 16, eff. 6/30/1996.