The attorney general, or the corporation, may by certiorari out of the circuit court of the First Judicial District of Hinds County, Mississippi, within ten (10) days from the date of the order in the hearing provided in Section 77-3-403, remove the entire proceeding to such court, which removal shall not operate as a supersedeas. No supersedeas shall be allowed, but the circuit court or the circuit judge in vacation shall examine the record for errors of law. If the said court shall find no errors of law, the order shall be affirmed. If errors of law appear, it shall be reversed, and such reversal shall operate as a stay of such order, and no subsequent action on the charter forfeiture shall be taken by the commission on such order, but the cause shall be remanded to the commission with directions for a new hearing, or dismissed, as the circuit court finds appropriate by reason of errors of law appearing on the face of the record.