All trustees, guardians, administrators, executors and other fiduciaries may, without court order, if not prohibited by the instrument, judgment, decree or order establishing the fiduciary relationship, invest or deposit funds held in a fiduciary capacity in time certificates of deposit, savings accounts or other interest-bearing accounts of (a) any state or national bank (including itself, if such fiduciary be a bank) whose main office is located in the state and the deposits of which are insured by the Federal Deposit Insurance Corporation, or (b) any state or federal savings and loan association (including itself, if such fiduciary be a savings and loan association) whose main office is located in the state and the deposits of which are insured by the Federal Savings and Loan Insurance Corporation.
Miss. Code Ann. § 91-13-6
Federally insured accounts and certificates of deposit as legal investments
Applied in 1 court decision — leading case 753 So. 2d 1057 - McNeil v. Hester (2000)
Most recently applied in 753 So. 2d 1057 - McNeil v. Hester (February 2000)
Laws, 1982, ch. 364, § 1, eff from and after July 1, 1982.
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.