Mississippi § 81-27-5 - 102.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-27-5 — 102., with citation guidance and answers to common questions.
§ 81-27-5. 102.
A state trust company may acquire its own shares or participation shares if: The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares or participation shares under regulatory accounting principles; or The state trust company obtains the prior written approval of the commissioner. A state trust company may acquire a lien upon its own shares or participation shares if: The aggregate amount of indebtedness so secured is less than the amount of the state trust company’s undivided profits; or The state trust company obtains the prior written approval of the commissioner. Except with the prior written approval of the commissioner: The state trust company may not hold its own shares or participation shares as treasury stock for more than two (2) years; and A lien acquired under this section may not by its original terms extend for more than two (2) years.
Frequently Asked Questions About Mississippi § 81-27-5
What does Mississippi Code of 1972 Annotated § 81-27-5 cover?
Section 81-27-5 ("102.") 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 § 81-27-5?
A common citation format is "Mississippi Code of 1972 Annotated § 81-27-5" (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 § 81-27-5 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.