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
C. Board and Officers (§§ 81-27-6.201 - 81-27-6.211)
§ 81-27-6.208. Fiduciary responsibility
The board of a state trust company is responsible for the proper exercise of fiduciary powers by the state trust company and each matter pertinent to the exercise of fiduciary powers, including:
(1) The determination of policies;
(2) The investment and disposition of property held in a fiduciary capacity; and
(3) The direction and review of the actions of each officer, employee, and committee used by the state trust company in the exercise of its fiduciary powers.
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