Mississippi § 81-27-2 - 302.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-27-2 — 302., with citation guidance and answers to common questions.
§ 81-27-2. 302.
After notice and opportunity for hearing, The commissioner may determine: That an office maintained by an out-of-state trust institution in this state is being operated in violation of any provision of the laws of this state or in an unsafe and unsound manner; or That a company is engaged in an unauthorized trust activity. In either event, the commissioner shall have the authority to take all such enforcement actions as he or she would be empowered to take if the office or the company were a state trust company, including but not limited to issuing an order temporarily or permanently prohibiting the company from engaging in a trust business in this state; The commissioner may determine by order that an out-of-state trust institution engaging in or proposing to engage in a trust business in this state does not meet the requirements for establishing a representative trust office in this state pursuant to Section 81-27-2.202, which order shall be effective on the date of issuance or such other date as the commissioner shall determine; In cases involving extraordinary circumstances requiring immediate action, the commissioner may take any action permitted by Section 81-27-2.302(a) or (b) without notice or opportunity for hearing, but shall promptly afford a subsequent hearing upon an application to rescind the action taken. The commissioner shall promptly give notice to the home state regulator of each enforcement action taken against an out-of-state trust institution and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving said enforcement action.
Frequently Asked Questions About Mississippi § 81-27-2
What does Mississippi Code of 1972 Annotated § 81-27-2 cover?
Section 81-27-2 ("302.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 81-27-2?
A common citation format is "Mississippi Code of 1972 Annotated § 81-27-2" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 81-27-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.