Mississippi § 81-27-4 - 203.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-27-4 — 203., with citation guidance and answers to common questions.
§ 81-27-4. 203.
A state trust company may not reduce or increase its outstanding capital through dividend, redemption, issuance of shares or participation shares, or otherwise, without the prior approval of the commissioner, except as permitted by this section or rules adopted under this article. Unless otherwise restricted by rules or regulations, prior approval is not required for an increase in capital accomplished through: Issuance of shares of common stock or their equivalent in participation shares for cash; Declaration and payment of pro rata share dividends as defined in the Mississippi Business Corporation Act; or Adoption by the board of a resolution directing that all or part of undivided profits be transferred to capital. Prior approval is not required for a decrease in surplus caused by incurred losses in excess of undivided profits.
Frequently Asked Questions About Mississippi § 81-27-4
What does Mississippi Code of 1972 Annotated § 81-27-4 cover?
Section 81-27-4 ("203.") 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 § 81-27-4?
A common citation format is "Mississippi Code of 1972 Annotated § 81-27-4" (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 § 81-27-4 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.