2016 Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 27 - Multistate, State and Limited Liability Trust Institutions
Article 6 - Additional Definitions; Ownership; Governance; Mergers
B. Transfer of Ownership Interest in State Trust Company (§§ 81-27-6.101 - 81-27-6.106)
§ 81-27-6.102. Application regarding acquisition of control

(a) The proposed transferee seeking approval to acquire control of a state trust company or a person that controls a state trust company must file with the commissioner:

(1) An application in the form prescribed by the commissioner;

(2) The filing fee required by statute, rule or regulation;

(3) All information required by rule or that the commissioner requires in a particular application as necessary to an informed decision to approve or reject the proposed acquisition.

(b) If the proposed transferee includes any group of individuals or entities acting in concert, the information required by the commissioner may be required of each member of the group.

(c) Information obtained by the commissioner under this section is confidential and may not be disclosed by the commissioner or any employee of the department except as provided by Subarticle B of Article 2 of this chapter.

(d) If the proposed transferee is not a Mississippi resident, a Mississippi corporation, or an out-of-state corporation qualified to do business in this state, a written consent to service of process on a resident of this state in any action or suit arising out of or connected with the proposed acquisition.

(e) The proposed transferee must publish notice of the application, its date of filing, and the identity of each participant, in the form specified by the commissioner, in a newspaper of general circulation in the county where the state trust company's home office is located, promptly after the commissioner accepts the application as complete. Publication of notice of an application filed in contemplation of a public tender offer subject to the requirements of 15 USCS Section 78n(d)(1) may be deferred for not more than thirty-four (34) days after the date the application is filed if:

(1) The proposed transferee requests confidential treatment and represents that a public announcement of the tender offer and the filing of appropriate forms with the Securities and Exchange Commission or the appropriate federal banking agency, as applicable, will occur within the period of deferral; and

(2) The commissioner determines that the public interest will not be harmed by the requested confidential treatment.

(f) The commissioner may waive the requirement that a notice be published or permit delayed publication on a determination that waiver or delay is in the public interest.