2013 Mississippi Code
Title 81 - BANKS AND FINANCIAL INSTITUTIONS
Chapter 14 - SAVINGS BANK LAW
Article 3 - CORPORATE CHANGES
§ 81-14-113 - Merger of savings banks where ownership is converted


MS Code § 81-14-113 (2013) What's This?

(1) Any two (2) or more state mutual savings banks may merge to form a single state stock savings bank in separate merger-conversion proceedings or in simultaneous merger-conversion proceedings.

(2) Any two (2) or more state stock savings banks may merge to form a single state mutual savings bank in separate merger-conversion proceedings or in simultaneous merger-conversion proceedings.

(3) The commissioner may promulgate rules and regulations to facilitate the transition from two (2) or more savings banks to a single savings bank under a new form of ownership.

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