Companies authorized to act as a fiduciary
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Law
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Mississippi Code
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Banks and Financial Institutions
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Multistate, State and Limited Liability Trust Institutions
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General Provisions; Trust Institution Authorized Activities
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Companies Authorized to Act as a Fiduciary
- Companies authorized to act as a fiduciary
No company shall act as a fiduciary in this state except:
- A state trust company;
- A state bank;
- 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.;
- 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;
- A federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;
- 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;
- An out-of-state trust company with a trust office licensed by the commissioner pursuant to this chapter; or
- A foreign bank with a trust office licensed by the commissioner pursuant to this chapter.
No company shall engage in an unauthorized trust activity.
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