Merger of mutual and stock savings banks
Known as the Savings Bank Law
The act spans §§ 81-14-1 to 81-14-91 (108 sections).
Laws, 1992, ch. 489, § 33; reenacted without change, Laws, 1997, ch. 364, § 33; reenacted without change, Laws, 2001, ch. 457, § 33, eff from and after July 1, 2001.
(1) Any two (2) or more savings banks, when one or more is mutually owned and one or more is stock owned, may merge to form either a mutual or stock savings bank in separate conversion-merger proceedings and in simultaneous conversion-merger proceedings.
(2) The commissioner may promulgate rules and regulations to facilitate the merger of mutual and stock savings banks.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.