Mississippi § 81-27-6 - 305.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-27-6 — 305., with citation guidance and answers to common questions.
§ 81-27-6. 305.
A participant may not receive from a limited liability trust company any part of the participant’s contribution to capital until: All liabilities of the state trust company, except liabilities to participants on account of contribution to capital, have been paid or, if after the withdrawal or reduction, sufficient property of the state trust company will remain to pay all liabilities of the state trust company, except liabilities to participants on account of contribution to capital; All participants consent, unless the return of the contribution to capital may be demanded as provided by this article; or The articles of association are canceled or amended to set out the withdrawal or reduction. A participant may demand the return of the participant’s contribution to capital on the dissolution of the limited liability trust company and the failure by the full liability participants to exercise the right for the business of the limited liability trust company to be carried on by the remaining participants as provided by Section 81-27-6.307. Unless allowed by the articles of association or by the unanimous consent of all participants of the limited liability trust company, a participant may demand the return of the participant’s contribution to capital only in cash.
Frequently Asked Questions About Mississippi § 81-27-6
What does Mississippi Code of 1972 Annotated § 81-27-6 cover?
Section 81-27-6 ("305.") 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 § 81-27-6?
A common citation format is "Mississippi Code of 1972 Annotated § 81-27-6" (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 § 81-27-6 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.