Mississippi § 81-27-5 - 301.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-27-5 — 301., with citation guidance and answers to common questions.
§ 81-27-5. 301.
A state trust company may deposit trust funds with itself as an investment if authorized by the settlor or the beneficiary provided: It maintains as security for the deposits a separate fund of securities, legal for trust investments, under control of a federal reserve bank or a clearing corporation, as defined by Section 75-8-102, either in this state or elsewhere; The total market value of the security is at all times at least equal to the amount of the deposit; The separate fund is designated as such; and The separate fund is maintained under the control of another trust institution, bank or government agency. A state trust company may make periodic withdrawals from or additions to the securities fund required by subsection (a) of this section as long as the required value is maintained. Income from the securities in the fund belongs to the state trust company. Security for a deposit under this section is not required for a deposit under subsection (a) of this section to the extent the deposit is insured by the Federal Deposit Insurance Corporation or its successor.
Frequently Asked Questions About Mississippi § 81-27-5
What does Mississippi Code of 1972 Annotated § 81-27-5 cover?
Section 81-27-5 ("301.") 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.