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§ 81-27-1.101. Companies authorized to act as a fiduciary

MS Code § 81-27-1.101 (2019) (N/A)
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(a) No company shall act as a fiduciary in this state except:

(1) A state trust company;

(2) A state bank;

(3) A savings association organized under the laws of this state and authorized to act as a fiduciary pursuant to Section 81-12-1 et seq. or Section 81-14-1 et seq.;

(4) A national bank having its principal office in this state and authorized by the Comptroller of the Currency to act as a fiduciary pursuant to 12 USCS 92a;

(5) A federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;

(6) An out-of-state bank with a branch in this state established or maintained pursuant to Section 81-23-1 et seq. or a trust office licensed by the commissioner pursuant to this chapter;

(7) An out-of-state trust company with a trust office licensed by the commissioner pursuant to this chapter; or

(8) A foreign bank with a trust office licensed by the commissioner pursuant to this chapter.

(b) No company shall engage in an unauthorized trust activity.

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§ 81-27-1.102. Activities not requiring a charter, etc