Mississippi § 81-27-8 - 102.
Full text of Mississippi Mississippi Code of 1972 Annotated § 81-27-8 — 102., with citation guidance and answers to common questions.
§ 81-27-8. 102.
Any state trust company may place its assets and business under the control of the commissioner for liquidation by a resolution of a majority of its directors or members upon notice to the commissioner, and, upon taking possession of the state trust company, the commissioner, or duly appointed agent, shall retain possession thereof until such state trust company shall be authorized by the commissioner to resume business or until the affairs of the state trust company shall be fully liquidated as provided in this article. No state trust company shall make any general assignment for the benefit of its creditors except by surrendering possession of its assets to the commissioner, as herein provided. Whenever any state trust company for any reason shall suspend operations for any length of time, the state trust company shall, immediately upon such suspension of operations, be deemed in the possession of the commissioner and subject to liquidation hereunder.
Frequently Asked Questions About Mississippi § 81-27-8
What does Mississippi Code of 1972 Annotated § 81-27-8 cover?
Section 81-27-8 ("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 § 81-27-8?
A common citation format is "Mississippi Code of 1972 Annotated § 81-27-8" (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 § 81-27-8 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.